Buzz + Ideas

Commentary + Concepts

Economics and the human instinct for storytelling

"Why do economists miss the stories behind many of our economic fluctuations? One reason is that economists have a toolkit, and the narrative hasn’t traditionally been in it. We view narrative as somebody else’s territory. We do simultaneous equations. We teach general equilibrium theory. That’s fine, but by the time we finish teaching those, we’re tired." 

Read the full article from Robert Shiller as posted at Chicago Booth Review