Animal spirits : how human psychology drives the economy, and why it matters for global capitalism / George A. Akerlof and Robert J. Shiller.
Akerlof, George A., 1940-; Shiller, Robert J.
2009
HB74.P8 A494 2009 (Mapit)
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Title
Animal spirits : how human psychology drives the economy, and why it matters for global capitalism / George A. Akerlof and Robert J. Shiller.
Author
Akerlof, George A., 1940-
ISBN
9780691142333 (alk. paper)
0691142335 (alk. paper)
Publication Details
Princeton : Princeton University Press, c2009.
Language
English
Description
xiv, 230 p. ; 24 cm.
Call Number
HB74.P8 A494 2009
Dewey Decimal Classification
330.12/2019
Summary
Akerlof and Shiller reassert the necessity of an active government role in economic policymaking by recovering the idea of "animal spirits" (i.e. human psychology) and making it work for and not against us. They detail the most pervasive effects of animal spirits in contemporary economic life--such as confidence, fear, bad faith, corruption, a concern for fairness, and the stories we tell ourselves about our economic fortune--and show how Reaganomics, Thatcherism, and the rational expectations revolution failed to account for them. The authors then offer a road map for reversing the financial misfortunes besetting us today.
Bibliography, etc. Note
Includes bibliographical references and index.
Added Author
Shiller, Robert J.
Record Appears in
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Pt. 1. Animal spirits. Confidence and its multipliers
Fairness
Corruption and bad faith
Money illusion
Stories
Pt. 2. Eight questions and their answers. Why do economies fall into depression?
Why do central bankers have power over the economy (insofar as they do)?
Why are there people who cannot find a job?
Why is there a trade-off between inflation and unemployment in the long run?
Why is saving for the future so arbitrary?
Why are financial prices and corporate investments so volatile?
Why do real estate markets go through cycles?
Why is there special poverty among minorities?

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