Economic decisions aren’t only driven by hard data. A compelling story can change economic behavior and outcomes. In today’s episode, we explore real-world examples of “narrative economics” like how the Suez Canal ended up getting built. And we ask: why do narratives sometimes matter more than truth or data? Related episodes: <a href="https://www.npr.org/2025/11/06/nx-s1-5600041/this-indicator-hasnt-flashed-this-red-since-the-dot-com-bubble"target="_blank" >This indicator hasn’t flashed this red since the dot-com bubble</a> <a href="https://www.npr.org/2025/12/19/nx-s1-5648809/tariffs-consumer-sentiment-cape-ratio-pick-the-indicator-of-the-year"target="_blank" >Tariffs. Consumer sentiment. Cape Ratio. Pick The Indicator of The Year!</a> <a href="https://www.npr.org/2023/09/19/1197954171/the-indicator-from-planet-money-09-19-2023"target="_blank" >The Beigie Awards: Manufacturing takes center stage</a> For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at <a href="http://plus.npr.org/"target="_blank" >plus.npr.org</a>. Fact-checking by <a href="https://www.npr.org/people/1268825622/sierra-juarez"target="_blank" >Sierra Juarez</a>. Music by <a href="https://dropelectric.bandcamp.com/"target="_blank" >Drop Electric</a>. Find us: <a href="https://www.tiktok.com/@planetmoney"target="_blank" >TikTok</a>, <a href="https://www.instagram.com/planetmoney/"target="_blank" >Instagram</a>, <a href="https://www.facebook.com/planetmoney"target="_blank" >Facebook</a>, <a href="https://www.npr.org/newsletter/money"target="_blank" >Newsletter</a>.   Learn more about sponsor message choices: <a href="https://podcastchoices.com/adchoices">podcastchoices.com/adchoices</a> <a href="https://www.npr.org/about-npr/179878450/privacy-policy">NPR Privacy Policy</a>

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