The Narrative Monopoly

#12 - Robert Shiller, Narrative Economics

Episode Summary

A conversation with Nobel laureate Robert Shiller on his book Narrative Economics

Episode Notes

Bio

Robert Shiller is a Nobel laureate, meaning he’s won the Nobel prize in economics. He’s a professor of Economics at Yale. He’s written countless papers, articles and books including Irrational Exuberance which predicted both the bubble in equities in the year 2000 as well as the housing crisis. He’s the “Shiller” in the Case-Shiller Indices which is how we measure home prices in this country. And he’s the author of the 2019 book, and main subject of today’s discussion, Narrative Economics.

Times

• 1:00 - Intro
• 2:00 - Comments on the state of equity markets
• 6:30 - Narrative Contagion & Constellations
• 11:00 - Neuroscience & narratives
• 15:00 - Constructing narratives
• 17:00 Contagion rate & cross-discipline learning
• 19:00 - Consilience
• 22:30 - Behavioral Economics vs Narrative Economics
• 25:30 - Narratives & Truth / Marketing
• 32:30 - October 29 crash narrative & recent crashes
• 39:00 - How does internet distribution affect the contagion rate?
• 43:00 - His recent Op-ed on 1920s
• 49:00 - Thoughts on inflation

Link to his book Narrative Economics

His NYT Op-ed

Narrativemonopoly.com

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