See What is the role of storytelling in economics? Excerpt:
"Vignettes scattered through Adam Smith’s writing illuminate his arguments. Such thought experiments continue to play a key role in economic analysis today.
Economists are great storytellers. Their tales might be anecdotes of economic events that they have observed and which seem significant. More often, they are small, thoughtfully imagined stories about how the economic world works. Economists use these narratives to reason about why things happen in the way that they do – and perhaps what might happen next.
Where did this style of doing economic science come from? Well, maybe from Adam Smith, who is often seen as the father of the discipline."
She gives some examples from The Wealth of Nations, including his use of the the pin factory to demonstrate the value of the division of labor.
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Economists Love Fables And Parables (Or, What Is The Essence Of Economic Analysis?) (2011)
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