Robert Shiller on Narrative Economics

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Feb 03 2020 62 mins   2.9k
Economist, author, and Nobel Laureate Robert Shiller of Yale University discusses his book Narrative Economics with EconTalk host Russ Roberts. Shiller proposes a novel idea--that the narratives that people believe and use to understand the world affect their economic behavior and in turn affect the macroeconomy. Shiller argues that taking these psychological effects into account is a new frontier of economic research and he gives a number of examples of how we might think about these phenomena.