Robert Schiller on Animal Spirits
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Robert Schiller writes in the Financial Times about his new book Animal Spirits
It is the job of governments to use fiscal and monetary policy to maintain full-employment and to create the conditions necessary for a “wide laissez-faire” form of capitalism - so argues Robert Schiller in this important feature article in the Financial Times to accompany the recent launch of his new book Animal Spirits, co-authored with Nobel-Prize winning economist George Akerlof. The book is in high demand in our school library and rightly so because the two have produced a tremendously readable book mercifully free of technical jargon and without an econometric equation in sight!
When people lose trust in government and their appointed policy-makers the scale of the stimulus needed to restore demand and production in the economy is so much greater - the financial crisis represents a huge loss of trust and it will take a long time for that to recover.
Schiller writes here in the Wall Street Journal
Animal Spirits: How Human Psychology Drives the Economy, and Why It Matters for Global Capitalism is available from Amazon
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