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Nobel laureate Robert Shiller breaks down the psychological forces that will determine the severity of the next recession — and says Great Depression parallels are still alive and well

robert shiller

  • Robert Shiller — the Nobel laureate and famed Yale University economist — described in a New York Times column how market narratives can infest investor psyche, exacerbating the size and direction of economic events in a sometimes self-fulfilling way.
  • He also explains how Great Depression parallels are still alive and well, and outlines how people tie current trends to historical events in the absence of explanation.
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Source:: BusinessInsider.Com