Animal spirits : how human psychology drives the economy, and why it matters for global capitalism / George A. Akerlof and Robert J. Shiller.
By: Akerlof, George A
.
Contributor(s): Shiller, Robert J.
Material type: 
TextPublisher: Princeton : Princeton University Press, c2009Bibliography: Includes bibliographical references (p. 199-218) and index.Description: xiv, 230 p. ; 24 cm.ISBN: 9780691142333 (acid-free paper); 0691142335 (acid-free paper).Subject(s): Economics -- Psychological aspects | Finance -- Psychological aspects | Capitalism | GlobalizationDDC classification: 330.12/2019 Other classification: 83.12 | Item type | Current library | Collection | Call number | Status | Date due | Barcode | |
|---|---|---|---|---|---|---|---|
| Two Weeks | Davenport Library Circulating Collection | Print-Circulating | 330.122019 Ak35 2009 (Browse shelf(Opens below)) | Available | 34284003705662 |
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| 330.122 Sch865 2009 Can Capitalism survive? : creative destruction and the future of the global economy / | 330.122 St549 2010 23 things they don't tell you about capitalism / | 330.122 Z663 2012 A capitalism for the people : recapturing the lost genius of American prosperity / | 330.122019 Ak35 2009 Animal spirits : how human psychology drives the economy, and why it matters for global capitalism / | 330.12209 Ap525 2010 The relentless revolution : a history of capitalism / | 330.122092 M178 Prophet of innovation : Joseph Schumpeter and creative destruction / | 330.1220951 R246 2007 The future of Chinese capitalism / |
Includes bibliographical references (p. 199-218) and index.
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?
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.
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