Friday, July 10, 2009

Animal Spirits - George A. Akerlof & Robert J. Shiller

Animal spirits are the psychological aspects of economics. Why does Congress spend like drunken sailors? It's Keynesian economics with a generous dose of Animal Spirits. Government must tightly control the economy because the business sector is too greedy and consumers are too stupid and emotional. What a winning strategy! We already see how well that's working.

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