This paper argues for broadening the application of hysteresis to institutions, policy lockin, psychology, identity … application in economics is both an opportunity and a challenge. The opportunity is that it provides a means for incorporating … political, sociological, and psychological forces which economics tends to neglect. That will enrich economics and can also …

Standard economics omits the role of narratives (the stories that people tell themselves and others) when they make all …; motivating action; assigning social roles and identities; defining power relations; and establishing and conveying social norms …

Standard economics omits the role of narratives (the stories that people tell themselves and others) when they make all …; motivating action; assigning social roles and identities; defining power relations; and establishing and conveying social norms …

Standard economics omits the role of narratives (the stories that people tell themselves and others) when they make all …; motivating action; assigning social roles and identities; defining power relations; and establishing and conveying social norms …