Robert Shiller

We need to be careful about making predictions about the future.

The stock market is a reflection of collective human psychology.

The financial system is constantly evolving, and we need to adapt our understanding of it.

Narratives can spread like viruses and influence economic outcomes.

The housing market is not just about supply and demand; it's also about expectations.

We need to consider the human element in economic models.

The financial crisis highlighted the importance of understanding systemic risk.

The stock market is a fascinating laboratory for studying human behavior.

We need to be critical thinkers and question assumptions in economics.

The future of finance is about understanding the interplay between technology, psychology, and institutions.

Irrational exuberance

The stock market is a voting machine in the short run and a weighing machine in the long run.

Bubbles are the result of stories that spread and excite people.

Economic narratives are the stories that people tell to explain economic events.

Finance is not just about numbers; it's about human behavior.

The good society needs good finance, but finance must serve society.

Speculation is not gambling; it's an essential part of market efficiency.

Home prices have been rising for years, but this cannot continue forever.

The subprime crisis was predictable if you looked at the data.

Nostalgia for the gold standard is misguided; we need modern tools.