Mel's Reviews > Animal Spirits: How Human Psychology Drives the Economy, and Why It Matters for Global Capitalism

Animal Spirits by George A. Akerlof
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Nov 30, 09

bookshelves: re-think-your-world
Read in November, 2009

A great analysis and explanation of all the noneconomic, non-rational elements that affect motivation and activity... and thereby affect the economy. The authors sharply criticize traditional macroeconomic models for their failure to explain the sharp booms and busts that have always characterized economies and offer alternative explanations and policy prescriptions that more accurately reflect and address actual human behavior. Emphasis is places on the role of fairness, stories, corruption, and other "animal spirits" that motivate economic decisions.
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