Narrative Economics: How Stories Go Viral and Drive Major Economic Events

How do economic crises, cryptocurrency jumps, and waves of inflation arise? World-renowned economist Robert Shiller proves that the driving force behind these processes is often not dry numbers, but stories that can affect the collective consciousness. He shows how such narratives shape expectations, influence the decisions of politicians and businesses, and can trigger entire cascades of economic changes — from the cryptocurrency boom to global crises. Based on examples of past and current events, the author offers the reader keys to understanding economic processes. The book will be interesting not only to economists and financiers, but also to everyone who seeks to understand why we react to events in the world of economics in one way or another, why we succumb to collective optimism or panic, and how narratives shape our future.