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, 1940- [author.]

Contributor(s):

Shiller, Robert J [author.]

Material type: Text

text

Media type:

unmediated

Carrier type:

volume

ISBN:

0691142335
9780691142333

Subject(s):

DDC classification:

330.122019 22

LOC classification:

HB74.P8 A494 2009

Contents:

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?

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.

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Holdings
Item type	Current library	Call number	Copy number	Status	Date due	Barcode
Book	City Campus City Campus Main Collection	330.122019 AKE (Browse shelf(Opens below))	1	Available		A469145B

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Previous	330.122 VAR Varieties of capitalism, varieties of approaches /	330.122 WOR Worlds of capitalism : institutions, governance, and economic change in the era of globalization /	330.122 WOR Worlds of capitalism : institutions, governance, and economic change in the era of globalization /	330.122019 AKE Animal spirits : how human psychology drives the economy, and why it matters for global capitalism /	330.122092 SCH Prophet of innovation : Joseph Schumpeter and creative destruction /	330.1220951 COA How China became capitalist /	330.1220951 GAB Chinese capitalism and the modernist vision /	Next

Includes bibliographical references (pages 199-218) and index.

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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