Robert J. Shiller Quotes

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To understand the economy then is to comprehend how it is driven by the animal spirits. Just as Adam Smith's invisible hand is the keynote of classical economics, Keynes' animal spirits are the keynote to a different view of the economy — a view that explains the underlying instabilities of capitalism.

Robert J. Shiller

Stock prices are likely to be among the prices that are relatively vulnerable to purely social movements because there is no accepted theory by which to understand the worth of stocks....investors have no model or at best a very incomplete model of behavior of prices, dividend, or earnings, of speculative assets.

Robert J. Shiller

As I write in 2012 we certainly do not believe that it is over yet, and the worst may be yet to come. Efforts by governments to solve the underlying problems responsible for the crisis have still not gotten very far, and the 'stress tests' that governments have used to encourage optimism about our financial institutions were of questionable thoroughness.

Robert J. Shiller

Robert J. Shiller

Robert J. Shiller

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Born: March 29, 1946 (age 76)

Bio: Robert James "Bob" Shiller is an American Nobel Laureate, economist, academic, and best-selling author.

Known for:

Irrational Exuberance (2000)
Finance and the Good Society (2012)

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