Narrative Economics
How Stories Go Viral and Drive Major Economic Events
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Narrative Economics
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Narrated by:
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Susan Osman
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Robert J. Shiller - introduction
About this listen
From Nobel Prize-winning economist and New York Times best-selling author Robert Shiller, a new way to think about how popular stories help drive economic events
In a world in which internet troll farms attempt to influence foreign elections, can we afford to ignore the power of viral stories to affect economies? In this groundbreaking book, Nobel Prize-winning economist and New York Times best-selling author Robert Shiller offers a new way to think about the economy and economic change. Using a rich array of historical examples and data, Shiller argues that studying popular stories that affect individual and collective economic behavior - what he calls "narrative economics" - has the potential to vastly improve our ability to predict, prepare for, and lessen the damage of financial crises, recessions, depressions, and other major economic events.
Spread through the public in the form of popular stories, ideas can go viral and move markets - whether it's the belief that tech stocks can only go up, that housing prices never fall, or that some firms are too big to fail. Whether true or false, stories like these - transmitted by word of mouth, by the news media, and increasingly by social media - drive the economy by driving our decisions about how and where to invest, how much to spend and save, and more. But despite the obvious importance of such stories, most economists have paid little attention to them. Narrative Economics sets out to change that by laying the foundation for a way of understanding how stories help propel economic events that have had led to war, mass unemployment, and increased inequality.
The stories people tell - about economic confidence or panic, housing booms, the American dream, or Bitcoin - affect economic outcomes. Narrative Economics explains how we can begin to take these stories seriously. It may be Robert Shiller's most important book to date.
©2019 Robert J. Shiller (P)2019 Princeton University PressListeners also enjoyed...
What listeners say about Narrative Economics
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Overall3 out of 5 stars
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Performance5 out of 5 stars
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Story3 out of 5 stars
- Anonymous User
- 13-10-20
Stunning
Stunned by this sketch of an economic theory that places popular narratives of economics at the centre and looks at multiple avenues for future research including appropriate methods. Yet, there is nearly no mentioning of Alphabet, Facebook, Instagram, Twitter and the like except, ironically, when laying down the references to his data sources
Frankly, that strikes me as—let's say it—naive, especially for a former Nobel prize winner. Just look at how these big tech firms bring all informations on all consumers together—at least in the USA).
Btw. thx Amazon for providing this cheap read.
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Overall5 out of 5 stars
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Performance5 out of 5 stars
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Story4 out of 5 stars
- ATG
- 25-10-20
Interesting and different
I'm not sure if the sample is from this book or another! Regardless the book provides an interesting angle to economy
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Overall5 out of 5 stars
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Performance5 out of 5 stars
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Story5 out of 5 stars
- jimjimmny
- 14-12-20
Best Shiller book
Loved it. Absolutely loved it. Economics has always strived to be something (a science) it's not and this book lays that out in an engaging and thought provoking way. Thank you Robert Shiller, ably assisted by Susan Osman's superb narration. Planning on listening again very soon.
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Overall3 out of 5 stars
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Performance1 out of 5 stars
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Story4 out of 5 stars
- H�kon Eide
- 31-08-20
Get a better narrator
Pretty interesting book but let down by a stuffy narrator with a stuffy nose. Maybe get a narrator without a speech impediment next time. The accent is also pretty distracting.
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1 person found this helpful
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Overall5 out of 5 stars
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Performance5 out of 5 stars
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Story5 out of 5 stars
- Mr. Stephen S. Alderman
- 01-04-21
This book does exactly what is says on the tin !!!! (Very well read)
An earlier reviewer complained about the narration, however I don’t believe he gave the book enough time . The introduction is narrated by the author and the rest of the book is very well read by Susan Osman.
If you do not want to listen to a very eloquent female English voice then this book is not for you .
I loved how it was read and the content.
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2 people found this helpful
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Overall5 out of 5 stars
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Performance5 out of 5 stars
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Story5 out of 5 stars
- Anonymous User
- 28-07-20
Such an insightful book!
A great book telling the story of how human conversation (the "narrative") plays such a key role in economic events both past and present.
Its ideas give you an idea of how major events such as brexit in the UK, Trump's 2016 election campaign etc. bared fruits.
I would also argue that some of the things described in this book are applicable to the 2020 Coronavirus pandemic (although I'm sure he could not have foreseen that at the time).
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Overall2 out of 5 stars
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Performance2 out of 5 stars
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Story2 out of 5 stars
- Anonymous User
- 29-12-21
Haotic and disappointing
The subject matter and main issues are extremely interesting, but it is difficult to grasp the purpose of this stream of various examples and references. The numerous previews of what we will learn in the following chapters also do not help. As if the author wanted to justify the insufficient clarity of the current argument. I couldn't listen to it in full. I admit that I gave up when the author casually declares that World War II began with the declaration of war on Germany by Great Britain in September 1939. Which is an obvious mistake because the war began with the attack of Germany on Poland in early September. Further events are just a consequence of this. If ignorance on such an elementary level can be afforded, it undermines my belief in the value of any conclusions this book can offer.
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Overall2 out of 5 stars
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Performance1 out of 5 stars
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Story1 out of 5 stars
- DEAN BOOKER
- 27-08-22
yawn
narrative slightly over used word. I know narrative (s) are important but could you find
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