often ignored in economic models – Cognition & Commerce.

by George A.Akerlof and Robert J.Shiller, Princeton University Press,2009. Animal Spirits and the Fragility of Confidence in Modern Macroeconomics The mid-2000s were a time of optimism for macroeconomics, with mainstream theories achieving consensus on rational expectations and the management of economic fluctuations. However, the 2008 global financial crisis shattered this confidence, exposing significant gaps inContinue reading “Animal Spirits: How Human Psychology Drives the Economy, and Why it Matters for Global Capitalism.”