Robert Shiller on “Narrative Economics”:
“At the age of 19, I started thinking about narratives. That’s when I got to know economic models. I always had the feeling that economists forget something in their calculations, namely: that people never just accept incidents, but they always interpret them. And that is an essential fact. People want a story, a narrative.”
– Nobel laureate Robert Shiller in “Trump and Johnson do outrageous things”, Handelsblatt, 18./19./20. October 2019, No. 201, page 54
