Quotes from Robert J Shiller

We need to incorporate the contagion of narratives into economic theory. Otherwise, we remain blind to a very real, very palpable, very important mechanism for economic change, as well as a crucial element for economic forecasting. If we do not understand the epidemics of popular narratives, we do not fully understand changes in the economy and in economic behavior.

the business of statesmanship is to invent new terms for institutions which under their old names have become odious to the public.