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  • TIME

    Robert J. Shiller

    Oct 25, 2019 2 minutes
    —BILLY PERRIGO

    What is narrative economics? I define narrative economics as the study of popular stories that are economically relevant, that have a moral, that are a lesson that people will take heed of in their economic decisions.

    The narrative that comes to my mind for the 2007 through 2009 recession is the housing narrative. There were a lot of people flipping houses. That

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