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Sto caricando le informazioni... Narrative Economics: How Stories Go Viral and Drive Major Economic Eventsdi Robert J. Shiller
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Iscriviti per consentire a LibraryThing di scoprire se ti piacerà questo libro. Attualmente non vi sono conversazioni su questo libro. The key point of this book is that what people believe about the economy can affect the way the economy behaves. That is, the stories, or narratives, that we tell about the economy can affect the way the economy works. As much sense as this makes intuitively, it is something that economic theory -- with its fundamental premise of completely rational economic actors -- has ignored. Shiller discusses a series of narratives about the US economy that have repeatedly taken hold. The presumption of a feed back loop between the economy and narratives about the economy could be critical for policy; if you can change the narrative, perhaps you can change performance. But Shiller doesn't take the argument much beyond there. Worth reading, quickly. ( ) A bit of a misdescription; less a “how” and more a “that.” Along with bitcoin and the gold standard, which he argues serve similar rhetorical functions as hard-to-understand systems with magical promises, he also argues that a lack of consumer confidence narrative can itself extend recessions, as people decide not to buy stuff because things aren’t going so well. Ok, I guess. A bit dry so far. Not sure how insightful identify the link between the spread of ideas and the spread of diseases.. (Not yet anyway - still reading..) Still reading, but boy, this is dull. And I love economics! This may be the first book for a very long time that I don't persevere until the very end. Not recommended nessuna recensione | aggiungi una recensione
"Economists have long based their forecasts on financial aggregates such as price-earnings ratios, asset prices, and exchange rate fluctuations, and used them to produce statistically informed speculations about the future--with limited success. Robert Shiller employs such aggregates in his own forecasts, but has famously complemented them with observations about the influence of mass psychology on certain events. This approach has come to be known as behavioral economics. How can economists effectively capture the effects of psychology and its influence on economic events and change? Shiller attempts to help us better understand how psychology affects events by explaining how popular economic stories arise, how they grow viral, and ultimately how they drive economic developments. After defining narrative economics in the book's preface with allusions to the advent of both the Great Depression and to World War II, Shiller presents an example of a recent economic narrative gone viral in the story of Bitcoin. Next, he explains how narrative economics works with reference to how other disciplines incorporate narrative into their analyses and also to how epidemiology explains how disease goes viral. He then presents accounts of recurring economic narratives, including the gold standard, real estate booms, war and depression, and stock market booms and crashes. He ends his book with a blueprint for future research by economists on narrative economics"-- Non sono state trovate descrizioni di biblioteche |
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