For new ideas to spread, narratives are crucial. But is there a narrative for a progressive paradigm around? With this question, the moderator ULRIKE HERRMANN started the session on narratives.
Narrative economics is prominent, since Robert Shiller laid his focus on the explanation of narratives for economic outcomes. MICHAEL ROOS presented his theoretical framework on narratives and presented two examples from the economic sphere about the genius Elon Musk, and the rule based approach of Ben Bernanke.
More from a practical point of view, THOMAS FRICKE presented a study on narratives in the election programs for the German federal election. Narratives for a new paradigm seemed to be neck-and-neck with narratives of the old market liberal paradigm. He concluded that the new narratives are not yet sufficiently convincing to overtake the old.
In his talk, ANATOLE KALETSKY stressed that the reality is not foreseen by narratives by the example of the fear by many economists after World War II of an era of depression and recessions. Hence, the fear of a stagflation revival might be unnecessary. Also he emphasised that in economics it is really the time for a new paradigm.
WILLIAM LAMB talked about narratives in the context of climate change. More precisely, he talked about the climate change counter movement, preventing climate policy through the propagation of climate denial discourses.