Narrative Economics How Stories Go Viral and Drive Major Economic Events Robert J. Schiller

In Narrative Economics, economist Robert J. Shiller argues that human beliefs and actions, rather than numbers and statistics, ultimately drive economic outcomes. He adds that our beliefs and actions spring from the stories we tell ourselves about the economy and our role in it.According to Shiller, these narratives play a crucial role in our understanding of economic events by weaving facts and observations into coherent stories that reflect our values. Therefore, he says, we must analyze how popular stories, myths, and perceptions influence events, institutions, policies, and mindsets.In this guide, we’ll explore:How narratives help us make sense of the world—and how they in turn help shape that worldThe factors that contribute to the spread of economic narrativesRecurring economic narratives throughout historyThe kinds of research that can broaden our understanding of economic narrativesThroughout the guide, we’ll supplement Shiller’s insights with commentary from other economists and explore examples that both support and challenge his ideas.