Monday, February 17, 2014

The Animal Spirit


... a large proportion of our positive activities depend on spontaneous optimism rather than mathematical expectations, whether moral or hedonistic or economic. Most, probably, of our decisions to do something positive, the full consequences of which will be drawn out over many days to come, can only be taken as the result of animal spirits—a spontaneous urge to action rather than inaction..."  

 Keynes, John M. (1936). The General Theory of Employment, Interest and Money.

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