In the book "Animal Spirit", the two authors answered eight important economic questions: why the economy fell into recession, why central bankers have the power to control the economy so far, what measures should be taken in the face of the current financial crisis, why some peo

series book introduction

In 2009, Schiller collaborated with Nobel Prize winner in economics George Akerlof (George A. Akerlof) to create the book Animal Spirits: How Human Psychology Drives the Economy, and Why It Matters for Global Capitalism (Animal Spirits). This book is a subversive work of macroeconomic theory and policy. Its concept comes from the "animal spirit" expounded by economist Keynes, that is, investment behavior cannot be explained by theoretical or rational choices, but must be driven by human natural instinct.

Schiller believes that to understand how the economy runs, how to manage the economy and promote economic prosperity, we must pay attention to certain people's thinking patterns. These thinking patterns can truly reflect people's thoughts and emotions, and have an impact on major economic events such as housing price trends, inflation, and unemployment. In the book "Animal Spirit", the two authors answered eight important economic questions: why the economy fell into recession, why central bankers have the power to control the economy so far, what measures should be taken in the face of the current financial crisis, why some people cannot find jobs, why inflation and unemployment rise and fall in the long run, etc.

Schiller has given great humanistic care to the economic and financial field. Faced with complex economic problems, he always pays attention to the role of "people" in it and constantly tries to put forward new explanations for major economic events.

In Professor Schiller's new book Narrative Economics: How Stories Go Viral and Drive Major Economic Events (Narrative Economics), he tries to correct the tradition of finance that does not value "narrative". He believes that learning economic narrative is crucial because people's word-of-mouth stories are the fundamental force that drives economic development.

In the latest research, Professor Schiller asked about the root causes of truly important economic events. Many economists believe that the reasons behind economic events such as " Great Depression ", unemployment, and "real estate bubble" may be that the central bank made a mistake, or that the US Congress' tax system is not sound enough. Professor Schiller believes that the most important thing behind major economic events is the "viral" spread of various narratives. No matter whether these stories are true or false, good or evil, as long as they spread to a certain extent, they will turn to dominate the direction of economic events.

Professor Schiller's thoughts on "narrative economics" originated from a history course he took during his undergraduate years. In the course, he explored in-depth the causes of the Great Depression of 1929-33.

When it comes to the "Great Depression", people often feel panic. President Roosevelt's famous saying "The only thing we should fear is fear itself" is a popular narrative in the Great Depression era. Schiller believes that there were some other important narratives during the Great Depression, one of which was frugality. Steinbeck 's book "The Grapes of Wrath" describes life during the Great Depression and expresses sympathy for the suffering experience at that time. People at that time believed that Americans were overly indulging in the jazz era, so they returned to their simple Puritan beliefs during the Great Depression.

Technological unemployment is another narrative during the Great Depression, and people think that machines are replacing human work that can never come back. This scares people down their investment spending, just as frugal narratives encourage them to reduce their spending. The narrative of machines replacing human work can be traced back hundreds or even thousands of years ago, and this narrative has repeatedly appeared in history and remains strong until today in the 21st century. The fear of textile opportunities replacing workers emerged in the 19th century. The Great Depression was a warning to robots. The trend of automation that began in the 1950s made people think that machines can control machines can become a reality. Today is a discussion of artificial intelligence and the future of human beings...

Schiller believes that we need a new economic thinking, and economists need to start sorting out various narratives, just like entomologists studying insect species and ornithologists studying bird species. Only in this way can we have a thorough understanding of major economic events. At the same time, the public should also have some understanding of the phenomenon of "narrative influence on the economy", because people are surrounded by various popular narratives in life, and changes in narratives can fundamentally change people's motivations.

In the preface of the book "Narrative Economics", Schiller stated that this book is the crystallization of his research history for most of his life and is the culmination of his attention and research on the field of behavioral economics and over the years. From "Irrational Prosperity" to "Animal Spirit" and "Fishing Fool", Professor Schiller asked about the fundamental logic of economics, constantly innovated the perspective of interpretation, and always cared for "people".

On this occasion, Princeton University Press launched [Schiller's Special Event] , inviting book friends to invest in the most visionary economics works at the best prices. We have prepared three discount packages:

• Narrative Economics (narrative economics) single book is as low as 188 yuan (original price 222), and see the major economic events in the future from the current popular stories.

• Choose three of the seven books 8.5% off , reference plan:

Schiller + Akrlov "Nobel Prize Two Heroes" : Animal Spirits (animal spirit) , Phishing for Phools (diamond fool), Narrative Economics (narrative economics), original price 618 yuan, after discount 525 yuan

Schiller classic : Irrational Exuberance (irrational prosperity), Finance and the Good Society (financial and good society), The Subprime Solution (Subprime Loan Solution), original price is 499 yuan, after discount 424 yuan

• Collection price worth buying in the full set of investment institutions, companies and research institutes: Seven books 1098 yuan (original price 1469 yuan)

Princeton University Press Fate Reading

Leave a message and you will have to customize dolls

Princeton University Press (Princeton University Press) has prepared customized teddy bear dolls for dear readers and friends (the style is as shown in the picture above, the colors are divided into warm wine red and navy blue, and random distribution shall prevail upon receipt). A total of eight readers were selected for gifts for this event, and the rules are as follows.

This gift rule