Akerlof&ShearerBook

Akerlof&ShearerBook - The following arrived today via...

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Unformatted text preview: The following arrived today via an e-mail from Princeton University Press In Econ 25200 we try to understand why an economic textbook can be both useful and flawed, and how to identify possible flaws; in this book it appears that the authors are offering a way to address perceived flaws. 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. despondence that led to the Great Depression and the changing psychology that accompanied recovery....
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