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Robert J. Shiller

“The keep-up-with-the-Joneses narrative (discussed in chapter 11) seems especially strong at this writing in the United States. President Donald J. Trump models ostentatious living. In addition, there appears to be less generosity toward hungry families. There had been a distinct downtrend in US charitable giving for basic needs even before Trump’s presidency. Research at the Indiana University Lilly Family School of Philanthropy reveals a 29% decline in real, inflation-corrected, basic-needs charity from 2001 to 2014.2 These declines in the modesty and compassion narratives extend to a lower willingness to help the world’s emerging countries.”

Robert J. Shiller, Narrative Economics: How Stories Go Viral and Drive Major Economic Events
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Narrative Economics: How Stories Go Viral and Drive Major Economic Events Narrative Economics: How Stories Go Viral and Drive Major Economic Events by Robert J. Shiller
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