An audiobook narrated by esteemed BBC tv journalist and anchor Susan Orman, with an introduction read by the writer 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 disregard the power of viral stories to affect economies? Within this groundbreaking book, Nobel Prize-winning economist and New York Times bestselling author Robert Shiller offers a new way to think about about Narrative Economics: How Tales Move Viral and Get Major Economic Occasions the economy and economic switch. Using a rich array of historic examples and data, Shiller argues that learning popular tales that affect specific and collective economic behavior-what he calls ‘narrative economics’-has the to greatly improve our ability to predict, plan, and lessen the harm of monetary crises, recessions, depressions, and additional major economic occasions.

Spread through the public by means of popular tales, ideas can move viral and move markets-whether it is the belief that tech shares can only rise, that housing prices hardly ever fall, or that some companies are too large to fail. Whether accurate or false, tales like these-transmitted by person to person, by the news media, and significantly by interpersonal media-drive the overall economy by traveling our decisions about how and where you can invest, just how much to spend and conserve, and even more. But regardless of 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 means of focusing on how stories help propel economic events that have had led to war, mass unemployment, and elevated inequality.

The stories people tell-about economic confidence or panic, housing booms, the American desire, or Bitcoin-affect economic outcomes. Narrative Economics points out how we can begin to consider these stories significantly. It might be Robert Shiller’s most significant book to time.