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By contrasting the Great Depression and the Coronacrisis, we demonstrate that narrative economics (Shiller, 2017) is key in the analysis of economic fluctuations. We note the importance of the populist narrative to understand the economic and health outcomes of the Coronacrisis in Mexico and highlight the role of the predominance of different economic paradigms in economic policy decision-making. We suggest that, just as in 1929, by following orthodox primary fiscal balance sheet policies at the cost of contracting government investment, the Mexican economy will undergo a long and painful recovery process compared to its global peers. [ABSTRACT FROM AUTHOR]

The objective of this review is to discuss the formation of knowledge proposed by Keynes on his Treatise on Probability, and the economic agents' behavior in an uncertainty scenario presented on his General Theory, by the Narrative Economics' and Behavioral Economics perspectives. The hypothesis that will be analyzed is that in a keynesian uncertainty scenario, economic agents tend to act according to their context (social, geographic, historic, cultural) spreading narratives by which they identify themselves and orient decisions that cause sensible movements on the economic aggregates. Revisiting the literature, we could conclude that by bringing together the behavioral economy and the narrative economy theory, we could, from the Keynes' insights on his writings, perceive strong empirical evidence that can be analytically important on the assessment of the economic fluctuations. [ABSTRACT FROM AUTHOR]