We judge economics by what it can produce. As such, economics is rather more like engineering than physics: more practical than spiritual. — Robert J. Shiller Copy Share Image
Critics of 'economic sciences' sometimes refer to the development of a 'pseudoscience' of economics, arguing that it uses the trappings of science,… — Robert J. Shiller Copy Share Image
The problem is that once we focus on economic policy, much that is not science comes into play. Politics becomes involved, and… — Robert J. Shiller Copy Share Image
That's the world we live in: when it comes to economics, people have emotions; it's not like chemistry or physics. — Robert J. Shiller Copy Share Image
My clinical psychologist wife of 40 years has always had a close intellectual influence on me. When I was beginning to talk… — Robert J. Shiller Copy Share Image
The good news is that, at least in economics, I've seen movement away from its overemphasis on mathematical models of purely rational… — Robert J. Shiller Copy Share Image
Economists who adhere to rational-expectations models of the world will never admit it, but a lot of what happens in markets is… — Robert J. Shiller Copy Share Image
Fear causes individuals to restrain their spending and firms to withhold investments; as a result, the economy weakens, confirming their fear and… — Robert J. Shiller Copy Share Image
Physicists have a bias to aspire to be "seers" like Einstein rather than "craftspeople" who do simple and practical research. I have… — Robert J. Shiller Copy Share Image
Since the global financial crisis and recession of 2007-2009, criticism of the economics profession has intensified. The failure of all but a… — Robert J. Shiller Copy Share Image
This is an anxiety driven world - the whole world is driven by anxiety. It is anxiety about the aftermath of the global financial… — Robert J. Shiller Copy Share
The future is always coming up with surprises for us, and the best way to insulate yourself from these surprises is to diversify. — Robert J. Shiller Copy Share
Can a controlled experiment explain why people like Kewpie dolls in one year, Beanie Babies in another, and American Girl dolls this year? Yet… — Robert J. Shiller Copy Share
News media stimulate bubbles, since stories about them boost their audience. — Robert J. Shiller Copy Share
Diversify, because that helps reduce risk. And you can diversify outside the United States. Some people would never invest in Europe - I think… — Robert J. Shiller Copy Share
I want to know diverse facts about such things as galaxies or molecules or proteins or insect species. I have an impulse to want… — Robert J. Shiller Copy Share
When I see the Trump supporters on television explaining themselves, I don't get a feeling of supreme confidence. They've created a revolution, and now… — Robert J. Shiller Copy Share
I didn't vote for Trump. So we've got him. Let's hope for the best. He might do something good. — Robert J. Shiller Copy Share
Stock prices are likely to be among the prices that are relatively vulnerable to purely social movements because there is no accepted theory by… — Robert J. Shiller Copy Share
Yes, horoscopes still persist in popular newspapers, but they are there only for the severely scientifically challenged, or for entertainment; the idea that the… — Robert J. Shiller Copy Share
Money management has been a profession involving a lot of fakery - people saying they can beat the market, and they really can't. — Robert J. Shiller Copy Share
As far as I can find, almost no one in the profession - not even luminaries like John Maynard Keynes, Friedrich Hayek, or Irving… — Robert J. Shiller Copy Share
A lot of people aren't saving enough. And incidentally, people are living longer now, and health care is improving. You might end up retired… — Robert J. Shiller Copy Share
I think we do need to try to not just rely on the central bank to, in its wisdom, adjust interest rates, but allow… — Robert J. Shiller Copy Share
My father, Benjamin Shiller, told me not to believe in authorities or celebrities - that society tends to imagine them as superhuman. It's good… — Robert J. Shiller Copy Share
