In this book, Robert J. Shiller argues that economic events are significantly driven by contagious narratives or stories that spread among the public. He contends that these narratives, whether true or false, can go viral and impact economic decisions, such as investments, spending, and saving. Shiller uses historical examples, including stock market crashes, the rise and fall of Bitcoin, and the Great Depression, to illustrate how these narratives shape economic outcomes. He advocates for incorporating the study of these narratives into economic analysis to better predict and mitigate financial crises and other major economic events.
**This webcast originally aired live on Hedgeye.com on Wednesday June 16th, 2021**
Throughout June, Hedgeye CEO Keith McCullough is hosting a special Real Conversations series with four leading market strategists: Inflation Tsunami: Investing During A Rising Inflationary Tide. Follow this link to get access to our other webcasts: http://landing.hedgeye.com/inflation/
MORE INSIGHT WITH STEVE HANKE
Steve Hanke is the founder and co-director of the Institute for Applied Economics, Global Health, and the Study of Business Enterprise at Johns Hopkins. Hanke served as a senior economist in the Reagan White House and as an advisor to several nations' governments. Currently, he is a senior fellow at the Cato Institute, chairman of a metallurgical supervisory board in Amsterdam and chairman emeritus of the Friedberg Mercantile Group Inc.
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