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Retrospectives: Animal Spirits

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  • Roger Koppl

Abstract

John Maynard Keynes argued that when the conditions for rational action are not present, people are driven by "animal spirits." This article briefly considers Keynes' argument, and the history of the term.

Suggested Citation

  • Roger Koppl, 1991. "Retrospectives: Animal Spirits," Journal of Economic Perspectives, American Economic Association, vol. 5(3), pages 203-210, Summer.
    • Handle: RePEc:aea:jecper:v:5:y:1991:i:3:p:203-10
    Note: DOI: 10.1257/jep.5.3.203
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    File URL: http://www.aeaweb.org/articles.php?doi=10.1257/jep.5.3.203
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    References listed on IDEAS

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    Cited by:

    1. Seth Frey & Robert L. Goldstone, 2018. "Cognitive mechanisms for human flocking dynamics," Journal of Computational Social Science, Springer, vol. 1(2), pages 349-375, September.
    2. Marta Necadova, 2019. "Changes in Economic Sentiment Indicators before and after Economic Crisis (Position of Visegrad Group and Germany in EU)," Central European Business Review, Prague University of Economics and Business, vol. 2019(4), pages 55-85.
    3. Pascale Combes Motel, 2022. "Introductory Macroeconomics," Post-Print hal-03865968, HAL.
    4. Miguel A. Durán, 2005. "The problems of the the Co-Ordination problem," ThE Papers 05/09, Department of Economic Theory and Economic History of the University of Granada..
    5. Dow Alexander & Dow Sheila C., 2011. "Animal Spirits Revisited," Capitalism and Society, De Gruyter, vol. 6(2), pages 1-25, December.
    6. Sonya Marie Scott, 2018. "Crises, confidence, and animal spirits:exploring subjectivity in the dualism of Descartes and Keynes," The Journal of Philosophical Economics, Bucharest Academy of Economic Studies, The Journal of Philosophical Economics, vol. 11(2), pages 1-28, May.
    7. Michelle Baddeley, 2014. "Rethinking the micro-foundations of macroeconomics: insights from behavioural economics," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 11(1), pages 99-112, April.
    8. Barens, Ingo, 2011. ""Animal spirits" in John Maynard Keynes's general theory of employment, interest and money: Some short and sceptical remarks," Darmstadt Discussion Papers in Economics 201, Darmstadt University of Technology, Department of Law and Economics.
    9. William Butos & Roger Koppl, 2004. "Carabelli & de Vecchi on Keynes and Hayek," Review of Political Economy, Taylor & Francis Journals, vol. 16(2), pages 239-247.

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    JEL classification:

    • B29 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Other

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