Animal Spirits: How Human Psychology Drives the Economy, and Why It Matters for Global Capitalism
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Human psychology's powerful role in global economics.
If you're scratching your head at economic headlines and wondering how emotions play into the financial world, "Animal Spirits" might just demystify that for you. It's a book that leans on human psychology to explain economic trends and crises, offering a perspective that'll make you rethink the importance of confidence and sentiment in the economy. Not just for financial buffs, it could give you a new lens to view the world's economic health and your own financial decisions.
Animal Spirits: How Human Psychology Drives the Economy, and Why It Matters for Global Capitalism
Regular price
- Unit price
- / per
ISBN: 9780691142333
Publisher: Princeton University Press
Date of Publication: 2009-02-18
Format: Hardcover
Goodreads rating: 3.77
(rated by 4970 readers)
Description
The global financial crisis has made it painfully clear that powerful psychological forces are imperiling the wealth of nations today. From blind faith in ever-rising housing prices to plummeting confidence in capital markets, "animal spirits" are driving financial events worldwide. In this book, acclaimed economists George Akerlof and Robert Shiller challenge the economic wisdom that got us into this mess, and put forward a bold new vision that will transform economics and restore prosperity. Akerlof and Shiller reassert the necessity of an active government role in economic policymaking by recovering the idea of animal spirits, a term John Maynard Keynes used to describe the gloom and despondence that led to the Great Depression and the changing psychology that accompanied recovery. Like Keynes, Akerlof and Shiller know that managing these animal spirits requires the steady hand of government--simply allowing markets to work won't do it. In rebuilding the case for a more robust, behaviorally informed Keynesianism, 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 fortunes--and show how Reaganomics, Thatcherism, and the rational expectations revolution failed to account for them. Animal Spirits offers a road map for reversing the financial misfortunes besetting us today
Condition guide
Book Condition Guide
Books in Like New Condition
This book may contain very minor cosmetic defects, but it is in pristine condition. There should be no yellowing, no foxing, no water damage, and no annotations of any kind on the cover and the pages. For paperbacks, there should not be any crease marks on the spine. This book is good as new — lucky you!
*Books may be missing bundle media (e.g. CD, e-book code), if included.
Books in Very Good Condition
This book has been used, but it is still in a clean condition. There should be no foxing or annotations of any kind on the inner pages, but a sparse amount may be present on the cover, title pages, or outside edges of the book. There should be no water damage of any kind. For paperbacks, there may be light crease marks on the spine.
*Books may be missing bundle media (e.g. CD, e-book code), if included.
Books in Good Condition
We do our best to ensure the quality of our books, but there is no escaping the wear and tear that comes with time. Slight foxing and some annotations may be present on the pages and the cover. There should be no water damage of any kind. For paperbacks, there may be several crease marks on the spine.
*Books may be missing bundle media (e.g. CD, e-book code), if included.
Books in Well Read Condition
This is a well-read book, which means that the previous owner probably really enjoyed it! The cover and pages may include moderate foxing and annotations, but the text is not obscured and still readable. Moderate cosmetic defects and minor water damage may be present on the edges of the book. For paperbacks, there may be multiple crease marks on the spine.
*Books may be missing bundle media (e.g. CD, e-book code), if included.
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Human psychology's powerful role in global economics.
If you're scratching your head at economic headlines and wondering how emotions play into the financial world, "Animal Spirits" might just demystify that for you. It's a book that leans on human psychology to explain economic trends and crises, offering a perspective that'll make you rethink the importance of confidence and sentiment in the economy. Not just for financial buffs, it could give you a new lens to view the world's economic health and your own financial decisions.
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