CNBC, day trading, the Motley Fool, Silicon Investor -- not since the 1920s has there been such an intense fascination with the U.S. stock market. For an increasing number of Americans, logging on to Yahoo! Finance is a habit more precious than that morning cup of joe (as thousan...
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Inspired by former U.S. Fed Chairman Alan Greenspan's acknowledgment that he'd found a flaw in his model of how the world worked, The flaw looks at the forces underlying the credit bubble that caused the financial crash which nearly destroyed the world economy.
Examines the role that certain human emotions such as confidence, fear, and bad faith play in the global economy and how the prevalent philosophies underlying free-market capitalism have failed to take these key emotions into account.
Akerlof and Shiller reassert the necessity of an active government role in economic policymaking by recovering the idea of "animal spirits" (i.e. human psychology) and making it work for and not against us. They detail the most pervasive effects of animal spirits in contemporary ...