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Narrative Economics
How Stories Go Viral and Drive Major Economic EventsBy Robert J. ShillerNarrated by Susan OsmanLength11h 7m
About this audiobook
An audiobook narrated by esteemed BBC television journalist and anchor Susan Orman, with an introduction read by the author himself—Nobel Prize-winning economist and bestselling writer Robert Shiller
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 bestselling 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.
Audiobook details
GenreBusiness and Economics
Length11 hrs 7 mins
Narrated bySusan Osman
FormatAudiobook
Publish dateOct 1, 2019
LanguageEnglish
Table of contents
1Opening Anno, Preface: What is Narrative Economics?
11Chapter 10 - Panic versus Confidence
2Part 1, The Beginnings of Narrative Economics, Chapter 1 - The Bitcoin Narratives
12Chapter 11 - Frugality versus Conspicuous Consumption
3Chapter 2 - An Adventure in Consilience
13Chapter 12 - The Gold Standard versus Bimetallism
4Chapter 3 - Contagion, Constellations, and Confluence
14Chapter 13 - Labor-Saving Machines Replace Many Jobs
5Chapter 4 - Why Do Some Narratives Go Viral?
15Chapter 14 - Automation and Artificial Intelligence Replace Almost All Jobs
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6Chapter 5 - The Laffer Curve and Rubik's Cube Go Viral
16Chapter 15 - Real Estate Booms and Busts
7Chapter 6 - Diverse Evidence on the Virality of Economics Narratives
17Chapter 16 - Stock Market Bubbles
8Part 2, The Foundations of Narrative Economics, Chapter 7 - Causality and Constellations
18Chapter 17 - Boycotts, Profiteers, and Evil Business
9Chapter 8 - Seven Propositions of Narrative Economics
19Chapter 18 - The Wage-Price Spiral and Evil Labor Unions
10Part 3, Perennial Economic Narratives, Chapter 9 - Recurrence and Mutation
20Part 4, Advancing Narrative Economics, Chapter 19 - Future Narratives, Future Research, Closing Anno