Animal spirits do cause booms
Animal spirits do cause booms
- April 6, 2010
- A study by Fabio Milani, economics assistant professor, is featured in the Investors Chronicle March 26, 2010
From the Investors Chronicle:
Ever since Maynard Keynes coined the phrase in the 1930s, economists have suspected that "animal spirits" - waves of irrational pessimism or optimism - could be a cause of recessions and booms, as George Akerlof and Robert Shiller argued in a recent book. For years, though, it's been difficult to test this theory because it's been hard to distinguish between rational and irrational pessimism. However, a recent paper by Fabio Milani of the University of California at Irvine has tried to solve this problem - and he's found that animal spirits do indeed matter.
For the full story, please visit http://www.investorschronicle.co.uk/Columnists/ChrisDillow/article/20100....
Share on:
Related News Items
- D.C. is now enforcing its cashless business ban: What that could mean for you
- You can't even pay people to have more kids
- You deserve a great nap
- Khan named Social Sciences Alumni Academic Excellence Scholar
- LA Latinos took a big financial hit during the pandemic. Here's how some are trying to bounce back