WORLDmag.com | The ‘animal spirits’: "In the General Theory of Employment, Interest, and Money, John Maynard Keynes pondered on a peculiar characteristic of human nature. He identified it as a major contributor to the cyclical pattern of growth of modern capitalist economies. In his view, most human decisions are not made on the basis of a “weighted average of quantitative benefits multiplied by quantitative probabilities.” Instead, Keynes believed that most wealth-generating activities are a result of “spontaneous optimism.”"
Read more...
No comments:
Post a Comment