FYI: Robert Shiller has a new book coming out next month called Narrative Economics: How Stories Go Viral and Drive Major Economic Events. Shiller laid out the idea behind the book in a recent piece for the New York Times:
Forecasting such a shift is extremely difficult. But if we are to have a chance at success, it is critical to insert into the discussion another factor entirely: an examination of the popular narratives that may be infecting individual economic decision-making.
The probability that a recession will come soon — or be severe when it does — depends in part on the state of ever-changing popular narratives about the economy. These are stories that provide a framework for piecing together the seemingly random bits of information that one picks up from friends, the news or social media.
Regards,
Ted
https://awealthofcommonsense.com/2019/09/can-we-talk-ourselves-into-a-recession/?utm_source=Daily+AR&utm_campaign=cd496cc7dc-RSS_EMAIL_CAMPAIGN&utm_medium=email&utm_term=0_c08a59015d-cd496cc7dc-144127017
