Yes, there is a lot of research and theories regarding people sentiments. Fun fact if the majority of people in a country believes there is going to be a recession they will most likely cut spending and start saving which courses a recession. Same logic with inflation.
Behavioral economics is the field for this btw.
For sure behavioral economics rules.
Surely having good morale is the point of life. To think of morale in the context of how it affects the economy is grotesque — the question rather is how does the economy affect morale
Book: Narrative Economics: How Stories Go Viral and Drive Major Economic Events
