Animal Spirits Driving Economic Change
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Animal Spirits
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Author : George A. Akerlof
language : en
Publisher: Princeton University Press
Release Date : 2010-02-01
Animal Spirits written by George A. Akerlof and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-02-01 with Business & Economics categories.
From acclaimed economists George Akerlof and Robert Shiller, the case for why government is needed to restore confidence in the economy 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. Read it and learn how leaders can channel animal spirits—the powerful forces of human psychology that are afoot in the world economy today. In a new preface, they describe why our economic troubles may linger for some time—unless we are prepared to take further, decisive action.
Animal Spirits Driving Economic Change
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Author : Nicolaus A. Berlin
language : en
Publisher: Campus Verlag
Release Date : 2015-02-09
Animal Spirits Driving Economic Change written by Nicolaus A. Berlin and has been published by Campus Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-02-09 with Business & Economics categories.
Mit diesem Buch legt der Wissenschaftler Dr. Nicolaus A. Berlin den Grundstein für eine Wirtschaftstheorie, die auf Motivation und Instinkten fußt. Berlin präsentiert ein neues Konzept wirtschaftlichen Denkens und Handelns, das sich die nicht-rationalen Aspekte unseres Handelns zunutze macht: die Animal Spirits. Er beleuchtet die Auswirkung psychologischer Faktoren auf unser wirtschaftliches Handeln und zeigt, was uns und unsere Ökonomie tatsächlich antreibt, beeinflusst und immer wieder maßgeblich verändert.
The General Theory Of Employment Interest And Money
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Author : John Maynard Keynes
language : en
Publisher: Springer
Release Date : 2018-07-20
The General Theory Of Employment Interest And Money written by John Maynard Keynes and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-07-20 with Business & Economics categories.
This book was originally published by Macmillan in 1936. It was voted the top Academic Book that Shaped Modern Britain by Academic Book Week (UK) in 2017, and in 2011 was placed on Time Magazine's top 100 non-fiction books written in English since 1923. Reissued with a fresh Introduction by the Nobel-prize winner Paul Krugman and a new Afterword by Keynes’ biographer Robert Skidelsky, this important work is made available to a new generation. The General Theory of Employment, Interest and Money transformed economics and changed the face of modern macroeconomics. Keynes’ argument is based on the idea that the level of employment is not determined by the price of labour, but by the spending of money. It gave way to an entirely new approach where employment, inflation and the market economy are concerned. Highly provocative at its time of publication, this book and Keynes’ theories continue to remain the subject of much support and praise, criticism and debate. Economists at any stage in their career will enjoy revisiting this treatise and observing the relevance of Keynes’ work in today’s contemporary climate.
How Novelty And Narratives Drive The Stock Market
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Author : Nicholas Mangee
language : en
Publisher: Cambridge University Press
Release Date : 2021-10-14
How Novelty And Narratives Drive The Stock Market written by Nicholas Mangee and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-10-14 with Business & Economics categories.
'Animal spirits' is a term that describes the instincts and emotions driving human behaviour in economic settings. In recent years, this concept has been discussed in relation to the emerging field of narrative economics. When unscheduled events hit the stock market, from corporate scandals and technological breakthroughs to recessions and pandemics, relationships driving returns change in unforeseeable ways. To deal with uncertainty, investors engage in narratives which simplify the complexity of real-time, non-routine change. This book assesses the novelty-narrative hypothesis for the U.S. stock market by conducting a comprehensive investigation of unscheduled events using big data textual analysis of financial news. This important contribution to the field of narrative economics finds that major macro events and associated narratives spill over into the churning stream of corporate novelty and sub-narratives, spawning different forms of unforeseeable stock market instability.
Summary Animal Spirits
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Author : BusinessNews Publishing,
language : en
Publisher: Primento
Release Date : 2017-01-30
Summary Animal Spirits written by BusinessNews Publishing, and has been published by Primento this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-01-30 with Social Science categories.
The must-read summary of George A. Akerlof and Robert J. Shiller's book: “Animal Spirits: How Human Psychology Drives the Economy, and why it Matters for Global Capitalism”. This complete summary of "Animal Spirits" by George A. Akerlof and Robert J. Shiller, two renowned economists, presents their view that conventional economics has ignored elements such as confidence, trust, fairness and corruption. They argue that these elements must be taken into account to take better economic decisions, and that human psychology should not be underestimated when global financial markets are being considered. Added-value of this summary: • Save time • Understand how human psychology relates to economics • Expand your knowledge of economic issues To learn more, read "Animal Spirits" and discover Akerlof and Shiller's original and effective approach to economics in terms of psychology.
How Novelty And Narratives Drive The Stock Market
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Author : Nicholas Mangee
language : en
Publisher: Cambridge University Press
Release Date : 2021-10-14
How Novelty And Narratives Drive The Stock Market written by Nicholas Mangee and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-10-14 with Business & Economics categories.
The novelty-narrative hypothesis is used to understand stock market instability using big data textual analytics of financial news.
Narrative Economics
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Author : Robert J. Shiller
language : en
Publisher: Princeton University Press
Release Date : 2020-09-01
Narrative Economics written by Robert J. Shiller and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-09-01 with Business & Economics categories.
From Nobel Prize–winning economist and New York Times bestselling author Robert Shiller, a groundbreaking account of how stories help drive economic events—and why financial panics can spread like epidemic viruses Stories people tell—about financial confidence or panic, housing booms, or Bitcoin—can go viral and powerfully affect economies, but such narratives have traditionally been ignored in economics and finance because they seem anecdotal and unscientific. In this groundbreaking book, Robert Shiller explains why we ignore these stories at our peril—and how we can begin to take them seriously. Using a rich array of examples and data, Shiller argues that studying popular stories that influence individual and collective economic behavior—what he calls "narrative economics"—may vastly improve our ability to predict, prepare for, and lessen the damage of financial crises and other major economic events. The result is nothing less than a new way to think about the economy, economic change, and economics. In a new preface, Shiller reflects on some of the challenges facing narrative economics, discusses the connection between disease epidemics and economic epidemics, and suggests why epidemiology may hold lessons for fighting economic contagions.
Identity Economics
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Author : George A. Akerlof
language : en
Publisher: Princeton University Press
Release Date : 2010-01-21
Identity Economics written by George A. Akerlof and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-01-21 with Business & Economics categories.
How identity influences the economic choices we make Identity Economics provides an important and compelling new way to understand human behavior, revealing how our identities—and not just economic incentives—influence our decisions. In 1995, economist Rachel Kranton wrote future Nobel Prize-winner George Akerlof a letter insisting that his most recent paper was wrong. Identity, she argued, was the missing element that would help to explain why people—facing the same economic circumstances—would make different choices. This was the beginning of a fourteen-year collaboration—and of Identity Economics. The authors explain how our conception of who we are and who we want to be may shape our economic lives more than any other factor, affecting how hard we work, and how we learn, spend, and save. Identity economics is a new way to understand people's decisions—at work, at school, and at home. With it, we can better appreciate why incentives like stock options work or don't; why some schools succeed and others don't; why some cities and towns don't invest in their futures—and much, much more. Identity Economics bridges a critical gap in the social sciences. It brings identity and norms to economics. People's notions of what is proper, and what is forbidden, and for whom, are fundamental to how hard they work, and how they learn, spend, and save. Thus people's identity—their conception of who they are, and of who they choose to be—may be the most important factor affecting their economic lives. And the limits placed by society on people's identity can also be crucial determinants of their economic well-being.
Rethinking Capitalism
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Author : Michael Jacobs
language : en
Publisher: John Wiley & Sons
Release Date : 2016-07-21
Rethinking Capitalism written by Michael Jacobs and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-07-21 with Political Science categories.
"Thought provoking and fresh - this book challenges how we think about economics.” Gillian Tett, Financial Times For further information about recent publicity events and media coverage for Rethinking Capitalism please visit http://marianamazzucato.com/rethinking-capitalism/ Western capitalism is in crisis. For decades investment has been falling, living standards have stagnated or declined, and inequality has risen dramatically. Economic policy has neither reformed the financial system nor restored stable growth. Climate change meanwhile poses increasing risks to future prosperity. In this book some of the world’s leading economists propose new ways of thinking about capitalism. In clear and compelling prose, each chapter shows how today’s deep economic problems reflect the inadequacies of orthodox economic theory and the failure of policies informed by it. The chapters examine a range of contemporary economic issues, including fiscal and monetary policy, financial markets and business behaviour, inequality and privatisation, and innovation and environmental change. The authors set out alternative economic approaches which better explain how capitalism works, why it often doesn’t, and how it can be made more innovative, inclusive and sustainable. Outlining a series of far-reaching policy reforms, Rethinking Capitalism offers a powerful challenge to mainstream economic debate, and new ideas to transform it.
The Soulful Science
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Author : Diane Coyle
language : en
Publisher: Princeton University Press
Release Date : 2009-12-07
The Soulful Science written by Diane Coyle and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-12-07 with Business & Economics categories.
For many, Thomas Carlyle's put-down of economics as "the dismal science" rings true--especially in the aftermath of the crash of 2008. But Diane Coyle argues that economics today is more soulful than dismal, a more practical and human science than ever before. The Soulful Science describes the remarkable creative renaissance in economics, how economic thinking is being applied to the paradoxes of everyday life. This revised edition incorporates the latest developments in the field, including the rise of behavioral finance, the failure of carbon trading, and the growing trend of government bailouts. She also discusses such major debates as the relationship between economic statistics and presidential elections, the boundary between private choice and public action, and who is to blame for today's banking crisis.