Narrative Economics: How Stories Go Viral and Drive Major Economic Events
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"Narrative Economics: How Stories Go Viral and Drive Major Economic Events" by Robert J. Shiller explores the role of storytelling and narratives in shaping economic behavior and influencing financial markets. Shiller argues that the spread of compelling narratives—such as financial crises, market booms, or economic policies—can significantly impact economic outcomes by affecting people's beliefs, decisions, and actions. The book examines historical and contemporary examples to illustrate how powerful stories can drive economic events and shape public perception. By analyzing the interplay between narratives and economic phenomena, Shiller provides insights into how understanding and managing these stories can improve economic forecasting and policy-making. The book aims to bridge the gap between economics and psychology, emphasizing the importance of narratives in understanding and predicting economic trends.
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