Robert J. Shiller’s Director's Lecture, “Narrative Economics,” addressed narrative psychology in economics and its relation to economic inequality. How society has dealt with inequality in the past is deeply reflective of the narratives that shape our observations of blame and incentivization, Shiller argued. If inequality gets worse as technology continues to replace common labor, society will need to draw on insights from psychology, sociology, and institutional economics to address the problem in a durable way.
