The Power of Stories?
February 7, 2017 - Animal Spirits, Big Ideas
Do narratives (stories) sometimes trump rationality in financial markets? In his January 2017 paper entitled “Narrative Economics”, Robert Shiller considers the epidemiology (spread, mutation and fading) of stories as related to economic fluctuations. He explores the 1920-21 depression, the Great Depression of the 1930s, the Great Recession of 2007-9 and the political-economic situation of today as… Keep Reading