Narrative Economics

Zusatztext "[Shiller aims] to identify the enduring narratives that influence the way we think about the economy! and may influence our patterns of spending and saving! and therefore become self-fulfilling prophecies . . . the results are fascinating! and sometimes startling." ---Howard Davies! Prospect Informationen zum Autor Robert J. Shiller is a Nobel Prize-winning economist! the author of the New York Times bestseller Irrational Exuberance ! and the coauthor! with George A. Akerlof! of Phishing for Phools and Animal Spirits ! among other books (all Princeton). He is Sterling Professor of Economics at Yale University and a regular contributor to the New York Times . He lives in New Haven! Connecticut. Twitter @RobertJShiller Klappentext In a world in which internet troll farms attempt to influence foreign elections, can we afford to ignore the power of viral stories to affect economies? In this groundbreaking book, Nobel Prize-winning economist and New York Times bestselling author Robert Shiller offers a new way to think about the economy and economic change. 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 lessen the damage of financial crises, recessions, depressions, and other major economic events. The stories people tell--about economic confidence or panic, housing booms, the American dream, or Bitcoin--affect economic outcomes. Narrative Economics explains how we can begin to take these stories seriously. It may be Robert Shiller's most important book to date.By explaining how popular stories go viral and contribute to major economic events such as booms and crashes, Robert Shiller, in Narrative Economics , introduces a new way of thinking about, and guiding, economic change. Zusammenfassung From Nobel Prizewinning economist and New York Times bestselling author Robert Shiller, a groundbreaking account of how stories help drive economic eventsand why financial panics can spread like epidemic viruses In a world in which internet troll farms attempt to influence foreign elections, can we afford to ignore the power of viral stories to affect economies? In this groundbreaking book, Nobel Prizewinning economist and New York Times bestselling author Robert Shiller offers a new way to think about the economy and economic change. Using a rich array of historical examples and data, Shiller argues that studying popular stories that affect individual and collective economic behaviorwhat he calls "narrative economics"has the potential to vastly improve our ability to predict, prepare for, and lessen the damage of financial crises, recessions, depressions, and other major economic events. Spread through the public in the form of popular stories, ideas can go viral and move marketswhether it's the belief that tech stocks can only go up, that housing prices never fall, or that some firms are too big to fail. Whether true or false, stories like thesetransmitted by word of mouth, by the news media, and increasingly by social mediadrive the economy by driving our decisions about how and where to invest, how much to spend and save, and more. But despite the obvious importance of such stories, most economists have paid little attention to them. Narrative Economics sets out to change that by laying the foundation for a way of understanding how stories help propel economic events that have had led to war, mass unemployment, and increased inequality. The stories people tellabout economic confidence or panic, housing booms, the American dream, or Bitcoinaffect economic outcomes. Narrative Economics explains how we can begin to take these stories...

"The subject deserved a treatise by a brilliant author, and Robert Shiller delivered. Economic science would benefit immensely if the ideas from this book were to go viral themselves."---Josip Lucev, International Studies

Vorwort
By explaining how popular stories go viral and contribute to major economic events such as booms and crashes, Robert Shiller, in Narrative Economics, introduces a new way of thinking about, and guiding, economic change.

Autorentext

Robert J. Shiller is a Nobel Prize-winning economist, the author of the New York Times bestseller Irrational Exuberance, and the coauthor, with George A. Akerlof, of Phishing for Phools and Animal Spirits, among other books (all Princeton). He is Sterling Professor of Economics at Yale University and a regular contributor to the New York Times. He lives in New Haven, Connecticut. Twitter @RobertJShiller

Klappentext

From Nobel Prize-winning economist and New York Times bestselling author Robert Shiller, a groundbreaking account of how stories help drive economic events-and why financial panics can spread like epidemic viruses

In a world in which internet troll farms attempt to influence foreign elections, can we afford to ignore the power of viral stories to affect economies? In this groundbreaking book, Nobel Prize-winning economist and New York Times bestselling author Robert Shiller offers a new way to think about the economy and economic change. 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 lessen the damage of financial crises, recessions, depressions, and other major economic events.

Spread through the public in the form of popular stories, ideas can go viral and move markets-whether it's the belief that tech stocks can only go up, that housing prices never fall, or that some firms are too big to fail. Whether true or false, stories like these-transmitted by word of mouth, by the news media, and increasingly by social media-drive the economy by driving our decisions about how and where to invest, how much to spend and save, and more. But despite the obvious importance of such stories, most economists have paid little attention to them. Narrative Economics sets out to change that by laying the foundation for a way of understanding how stories help propel economic events that have had led to war, mass unemployment, and increased inequality.

The stories people tell-about economic confidence or panic, housing booms, the American dream, or Bitcoin-affect economic outcomes. Narrative Economics explains how we can begin to take these stories seriously. It may be Robert Shiller's most important book to date.

Zusammenfassung
One of the Financial Times ' Best Books of 2019: Economics