Quotes by Robert J. Shiller

Robert J. Shiller

A major boom in real stock prices in the US after Black Tuesday brought them halfway back to 1929 levels by 1930. This was followed by a second crash, another boom from 1932 to 1937, and a third crash. Speculative bubbles do not end like a short story, novel, or play. There is no final denouement that brings all the strands of a narrative into an impressive final conclusion. In the real world, we never know when the story is over.

Play

Real

Tuesday

As I write in 2012 we certainly do not believe that it is over yet, and the worst may be yet to come. Efforts by governments to solve the underlying problems responsible for the crisis have still not gotten very far, and the ‘stress tests’ that governments have used to encourage optimism about our financial institutions were of questionable thoroughness.

Believe

Stress

Writing

Can a controlled experiment explain why people like Kewpie dolls in one year, Beanie Babies in another, and American Girl dolls this year? Yet social scientists are asked to answer analogous questions. We economists and perhaps psychologists shouldn’t overreact to the derision. That is, we shouldn’t try to overlay a false sense of precision on our admittedly squooshy work.

Baby

Girl

Years

Consider our difficulties avoiding junk food and overspending. Such addictions were carefully planned-for by professional marketing teams.

Addiction

Marketing

Team

Each profession has its own toolkit.

Profession

Economics is (now) about emotion and psychology.

Challenges

Inspire

Psychology

Economists who adhere to rational-expectations models of the world will never admit it, but a lot of what happens in markets is driven by pure stupidity – or, rather, inattention, misinformation about fundamentals, and an exaggerated focus on currently circulating stories.

Expectations

Focus

Stupidity

I am worried that the collapse of home prices might turn out to be the most severe since the Great Depression.

Great Depression

Home

Might

I have argued that we need livelihood insurance, which would protect people against the risk of seeing their skills and expertise no longer needed. Such insurance could be offered by the private sector.

People

Risk

Skills

In the longer run and for wide-reaching issues, more creative solutions tend to come from imaginative interdisciplinary collaboration.

Creative

Issues

Running

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Addiction

Athlete

Authority

Baby

Beats

Believe

Benefits

Challenges

Collecting

Creative

Data

Decision

Earning

Economics

Expectations

Father

Focus

Girl

Great Depression

Home

Impact

Inspirational

Inspire

Intelligence

Investing

Issues

Jobs

Lifelong

Loyalty

Management

Marketers

Marketing

Media

Might

Moral

Movement

News

Pace

People

Play

Profession

Psychology

Real

Reality

Research

Risk

Running

Simple

Skills

Stories

The Future Blueprint

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The Home Therapist: Anti Anxiety

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The Autobiography

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The Behaviour Diary

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Quotes by Robert J. Shiller

Robert J. Shiller

Consider our difficulties avoiding junk food and overspending. Such addictions were carefully planned-for by professional marketing teams.

Each profession has its own toolkit.

Economics is (now) about emotion and psychology.

Economists who adhere to rational-expectations models of the world will never admit it, but a lot of what happens in markets is driven by pure stupidity – or, rather, inattention, misinformation about fundamentals, and an exaggerated focus on currently circulating stories.

I am worried that the collapse of home prices might turn out to be the most severe since the Great Depression.

I have argued that we need livelihood insurance, which would protect people against the risk of seeing their skills and expertise no longer needed. Such insurance could be offered by the private sector.

In the longer run and for wide-reaching issues, more creative solutions tend to come from imaginative interdisciplinary collaboration.

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Topics by Robert J. Shiller

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The Future Blueprint

The Home Therapist: Anti Anxiety

The Autobiography

The Behaviour Diary

The Dating Diary

The Relationship Therapist

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