Animal Spirits Economics
There appears to be something very wrong with economic theory as all prescribed doctrine to take us back to prosperity keeps failing, again and again Why despite unprecedented efforts of money printing does not animal spirits return to provide that optimistic outlook that brings economic growth and employment?Are animal spirits something governments can successfully influence with a view to alter the course of economic events? If so, under which circumstances will that take place?The global financial crisis of 2008 was a watershed moment, the free markets fumbled, by incorrectly pricing assets, causing a complete meltdown. It was followed by interventions of governments and central banks, which quickly started to fumble as well; endless programs of money printing and Keynesian efforts failed to get the economic wheels spinning. Why is that? Is it so that there is a natural business cycle which is beyond any proactive means of influence and that we simply have to live by?The authors take a step back in history and by drawing on lessons from the three worst economic crisis over the last century; The Great Depression of the 1930s, The Oil Crisis of 1974 and the Asian Financial Crisis of 1997, highlights the paths taken by the fastest recovering economies; Germany, Japan and South Korea respectively. Despite differing in geography, time epoch and type of societies and crisis, their fast track back to growth and employment shares a surprisingly large number of similarities, which the authors bring together into a blueprint applicable for the swift recovery out of any economic crisis.This book is a must-have for anyone that have come to realise that the economic theories central bankers and politicians are defining their policies on have become so detached from reality that they simply do not work, never have worked and never will work. In effect, Animal Spirits Economics provides an alternative view to the monetarist and demand side economics that permeate public discourse.Few other works of crisis economics present the necessary integrated and holistic perspective to make the crucial point; that restoring animal spirits on a national level must come first, which proves to be the key success factor to a quick recovery. The reader will be equipped with the thought-provoking facts to help swiftly address mankinds most looming problem; mass unemployment.
- Paperback | 244 pages
- 152.4 x 228.6 x 13.97mm | 430.91g
- 03 Jul 2015
- Createspace Independent Pub