Narrative economics how stories go viral & drive major economic events
"Economists have long based their forecasts on financial aggregates such as price-earnings ratios, asset prices, and exchange rate fluctuations, and used them to produce statistically informed speculations about the future--with limited success. Robert Shiller employs such aggregates in his own...
| Main Author: | Shiller, Robert J. (Author) |
|---|---|
| Format: | Books Print Book |
| Language: | English |
| Published: |
Princeton :
Princeton University Press,
[2019]
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| Subjects: |
Table of Contents:
- Preface
- Part I: The beginnings of narrative economics
- The bitcoin narratives
- An adventure in consilience
- Contagion, contstellations, and confluence
- Why do some narratives go viral?
- The Laffer curve and Rubik's Cube go viral
- Diverse evidence on the virality of economic narratives
- Part II: The foundations of narrative economics
- Causality and constellations
- Seven propositions of narrative economics
- Part III: Perennial economic narratives
- Recurrence and mutation
- Panic versus confidence
- Frugality versus conspicuous consumption
- The gold standard versus bimetallism
- Labor-saving machines replace many jobs
- Automation and artificial intelligence replace almost all jobs
- Real estate booms and busts
- Stock market bubbles
- Boycotts, profiteers, and evil business
- The wage-price spiral and evil labor unions
- Part IV: Advancing narrative economics
- Future narratives, future research
- Appendix: Applying epidemic models to economic narratives.