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Narrative Economics
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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.

About the Author

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

Reviews

"

The idea that human behaviour can exert its own influence in the market is something that most traders would
buy into. . . . But in Narrative Economics, Shiller goes much broader and deeper, looking at how the stories we tell ourselves about the world drive our behaviour. . . . Economists, he argues, need to study this if they are to have any hope of doing a better job than they have in the past of predicting major events . . . and how people react to them.

"---Rana Faroohar, Financial Times
"

Many economists argue that the US housing market and economy are still on solid foundations, but ignore
Shiller's warnings at your peril. He rarely gets it wrong.

"---Tom Rees, The Telegraph
"The book is . . . good fun to read. It is full of amusing and apposite quotations, and interesting detail."---Charles Goodhart, Central Banking Journal
"Shiller's thorough discussion and many examples are certainly convincing as to the importance of narratives in individual economic decision-making and aggregate economic phenomena."---Sonia Jaffe, Science
"Provocative . . . . Especially timely in the current social media-obsessed era, because narratives-both real and false-can spread globally with just a few swipes, affecting not just economic activity, but ultimately the balance of geopolitical power."---Matt Schifrin, Forbes
"Any given scenario can allow for multiple narratives, both actual and potential. The question is why some prove more compelling than others. Shiller offers a range of answers, starting with the most obvious: a narrative is compelling when it is engaging and well expressed. Because his book is very well written, Shiller himself has satisfied this criterion."---Barry Eichengreen, Project Syndicate
"

Shiller has none of the salesman-like bluster of the stock pickers clamouring for attention on business
TV news . . . . As it is, he has only 40-odd years of being freakishly right about things. It will have to do.

"---David Morris, Financial News
"Highly readable, compelling."---Steve Levine, Medium
"Shiller argues forcefully."---Chris Johns, Irish Times
"Much of the book . . . . is an enjoyable and well-informed description of such narratives. I especially liked his discussion of bimetallism, wherein he shows that Brexit is not the first debate about an abstruse issue which triggered a culture war."---Chris Dillow, Stumbling & Mumbling
"A magisterial account . . . . In some ways . . . a bigger challenge to the foundations of economics than behavioral economics."---Steve Denning, Forbes
"An engaging scholarly study of the stories we tell about economic events-stories that go viral, for better or worse . . . . Of immense value to economists and policymakers working on the behavioral side of the field." * Kirkus Reviews *

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