Narrative Economics by Robert J. Shiller
Call Number: HB74.P8 S47 2019
Using a rich array of historical examples and data, Shiller argues that studying popular stories that affect individual and collective economic behavior -- what he calls "narrative economics" -- has the potential to vastly improve our ability to predict, prepare for, and lesson the damage of financial crises, recessions, depressions, and other major economic events.Ideas can go viral and move markets. Stories like these drive the economy by driving our decisions about how and where to invest, how much to spend and save, and more. The stories people tell -- about economic confidence or panic, housing booms, the American dream, or Bitcoin -- affect economic outcomes.