How do economic crises, cryptocurrency fluctuations, and waves of inflation arise? World-renowned economist Robert Shiller argues that these processes are often driven not by dry figures, but by stories that capture the collective consciousness. He shows how such narratives shape expectations, influence the decisions of politicians and businesses, and can trigger cascades of economic change from cryptocurrency booms to global crises. Drawing on examples from past and present events, the author offers readers keys to understanding economic processes. The book will be of interest not only to economists and financiers, but also to anyone who wants to understand why we react to events in the world economy in a certain way, why we succumb to collective optimism or panic, and how narratives shape our future.
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