Animal Spirits

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.

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.

A simple guide to a smarter strategy for the individual investor A Wealth of Common Sense sheds a refreshing light on investing, and shows you how a simplicity-based framework can lead to better investment decisions. The financial market is a complex system, but that doesn't mean it requires a complex strategy; in fact, this false premise is the driving force behind many investors' market "mistakes." Information is important, but understanding and perspective are the keys to better decision-making. This book describes the proper way to view the markets and your portfolio, and show you the simple strategies that make investing more profitable, less confusing, and less time-consuming. Without the burden of short-term performance benchmarks, individual investors have the advantage of focusing on the long view, and the freedom to construct the kind of portfolio that will serve their investment goals best. This book proves how complex strategies essentially waste these advantages, and provides an alternative game plan for those ready to simplify. Complexity is often used as a mechanism for talking investors into unnecessary purchases, when all most need is a deeper understanding of conventional options. This book explains which issues you actually should pay attention to, and which ones are simply used for an illusion of intelligence and control. Keep up with—or beat—professional money managers Exploit stock market volatility to your utmost advantage Learn where advisors and consultants fit into smart strategy Build a portfolio that makes sense for your particular situation You don't have to outsmart the market if you can simply outperform it. Cut through the confusion and noise and focus on what actually matters. A Wealth of Common Sense clears the air, and gives you the insight you need to become a smarter, more successful investor.

After the publication of his best-selling book Power Animals, many people inquired about the meaning of spirit animals that were not contained in that work. In Animal Spirit Guides, Dr. Farmer provides concise, relevant details about the significance of more than 200 animals that may come to you in physical or symbolic form as guides and teachers. With each animal listed, you’ll find general meanings of the visitation; practical ways that they can help you as spirit guides; and how, as your power animal, they reflect characteristics that you possess. You’ll also find a "whom-to-call-on" section that will tell you which animal spirit guide to call on for any specific purpose.

Will China eventually be able to eliminate its socialist animal spirits? Highlighting the importance of China's investment booms and busts for both the Chinese and the world economy, Animal Spirits with Chinese Characteristics describes the origins and evolution of the investment cycle during the command economy period.

Centered in Rome but transporting us into worlds as varied and alluring as they are emotionally real, Francesca Marciano’s stories paint landscapes that are populated—vividly, hauntingly—by animals: from violent seagulls and starlings circling the evening sky in exhilarating formation to magical snakes and a tiny dog on the side of a deserted road. In unforgettable, cinematic frames, events unfold, especially in the lives of women. An affair ends painfully at a dinner table, an actress’s past comes crashing down on her during an audition, an unhappy wife seeks respite in a historic palazzo sublet. Two starkly different couples imagine parenthood during a Greek island holiday and a young girl returns from rehab, deciding to set out anew with a traveling circus. A man in crisis draws his ex-lover deep into the New Mexico desert. With spellbinding clarity, the six masterly stories in Animal Spirit inhabit the minds and hearts of Marciano’s characters. They chronicle deeply human moments of realization and recognition, indelible instants of irrevocable change—epiphanies sometimes sparked by our connection with animals and the primal power they show us.

Open your heart and mind to the wisdom of the animal world. Animal Speak provides techniques for recognizing and interpreting the signs and omens of nature. Meet and work with animals as totems and spirit guides by learning the language of their behaviors within the physical world. Animal Speak shows you how to: Identify, meet, and attune to your spirit animals Discover the power and spiritual significance of more than 100 different animals, birds, insects, and reptiles Call upon the protective powers of your animal totem Create and use five magical animal rites, including shapeshifting and sacred dance This beloved, bestselling guide has become a classic reference for anyone wishing to forge a spiritual connection with the majesty and mystery of the animal world.

The adventure continues in this third book in the New York Times bestselling series. Erdas is a land of balance. A rare link, the spirit animal bond, bridges the human and animal worlds. Conor, Abeke, Meilin, and Rollan each have this gift-and the grave responsibility that comes with it.But the Conquerors are trying to destroy this balance. They're swallowing whole cities in their rush for power-including Meilin's home. Fed up with waiting and ready to fight, Meilin has set off into enemy territory with her spirit animal, a panda named Jhi. Her friends aren't far behind . . . but they're not the only ones.The enemy is everywhere.