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" Yes, horoscopes still persist in popular newspapers, but they are there only for the severely scientifically challenged, or for entertainment; the idea that the stars determine our fate has lost all intellectual currency. "

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" As a child, I was fascinated by any branch of physical or biological science. Even today, I find great excitement in discovering the complexity and variability of the world we live in, getting a glimpse into the deeper reality that we mostly ignore in our everyday human activities. "

Robert J. Shiller

Find

Great

Child

" People aren't as impressed by homes anymore after they saw how they collapsed in price with the financial crisis. "

" Hesitation is often like procrastination. One may have vague doubts and feel a need to mull things over; meanwhile, other issues intrude on thought, and no decision is taken. Ask people why they procrastinate, and you probably won't get a crisp answer. "

" I want to know diverse facts about such things as galaxies or molecules or proteins or insect species. I have an impulse to want to know the little details, which are usually of no significance to non-specialists. I own a dissection microscope, and if there is an insect in the house, I sometimes catch it and look at it under the microscope. "

" Trump has never been clear and consistent about what he will do as president. "

" I often tend to think that things are not what they seem. "

" 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 for 30 years - people are not really preparing for that. "

" One should have a wide variety of assets in one's portfolio. And oil, by the way, is a particularly important asset to have in one's portfolio because we need it, and the economy thrives on it. "

" Trump does magic. Maybe it will be black magic sometime, but he's an amazing phenomenon. "

Robert J. Shiller

Will

Black

" Speculative markets have always been vulnerable to illusion. But seeing the folly in markets provides no clear advantage in forecasting outcomes, because changes in the force of the illusion are difficult to predict. "

" In a bubble, eventually people start saying, 'Wait a minute... these prices are way too high! What is anyone buying anymore? What could they possibly be thinking?' And then there's a correction and a bursting. "

" Fear causes individuals to restrain their spending and firms to withhold investments; as a result, the economy weakens, confirming their fear and leading them to restrain spending further. The downturn deepens, and a vicious circle of despair takes hold. "

" I think that a lot of people in all walks of life have the impression, of course, that, 'I specialize in something. I can't - I don't have the time to read other things. I'll just go to pure entertainment when I'm relaxing, and then I'll come back to my pure specialty.' That produces - that attitude produces idiot savants, unfortunately. "

Robert J. Shiller

Think

Life

" All taxes, except a 'lump-sum tax,' introduce distortions in the economy. But no government can impose a lump-sum tax - the same amount for everyone regardless of their income or expenditures - because it would fall heaviest on those with less income, and it would grind the poor, who might be unable to pay it at all. "

" When valuation confidence falls, it means that stock markets are perceived as overpriced. "

" This is an anxiety driven world - the whole world is driven by anxiety. It is anxiety about the aftermath of the global financial crisis; it's anxiety about inequality and about computers replacing jobs. "

" This is the paradox of thrift: belt-tightening causes people to lose their jobs, because other people are not buying what they produce, so their debt burden rises rather than falls. "

" I think we do need to try to not just rely on the central bank to, in its wisdom, adjust interest rates, but allow for people to avoid being exposed to inflation risk. "

" Any time you have change, it costs somebody. Somebody is a loser. "

" I didn't vote for Trump. So we've got him. Let's hope for the best. He might do something good. "

" Somehow, talking to young students brings you back to reality - it should, anyway. "

" People who stay unemployed for a long time start to look like damaged goods, and they don't get such good offers. Also, they're not learning anything. Most learning is on-the-job learning. "

" We judge economics by what it can produce. As such, economics is rather more like engineering than physics: more practical than spiritual. "

" That's the world we live in: when it comes to economics, people have emotions; it's not like chemistry or physics. "

" Manufacturers of food try to get the optimal ratio to tap into your impulsivity. They don't care about your health. "

" One thing I've noticed about history - you can search on newspapers going back hundreds of years, search for 'economic forecast,' you don't find it. It would be very rare to find it. "

Robert J. Shiller

Going

You

" Trump's victory clearly appears to stem from a sense of economic powerlessness, or a fear of losing power, among his supporters. To them, his simple slogan, 'Make America great again,' sounds like 'Make You great again': economic power will be given to the multitudes without taking anything away from the already successful. "

" Since the global financial crisis and recession of 2007-2009, criticism of the economics profession has intensified. The failure of all but a few professional economists to forecast the episode - the aftereffects of which still linger - has led many to question whether the economics profession contributes anything significant to society. "

" We don't know the probabilities of future events. Still, you have to take action, and so you do it on gut feeling. That's the world we live in. "

" In my first few years of elementary school at the Edison School in Detroit, I did poorly. I remember worrying that I might fail the second grade and be held back. "