Monday, September 12, 2011

Greg Mankiw: It's Time to Stoke Animal Spirits

Harvard professor, economic textbook salesman and Romney adviser, in his recent NYT column identifies's a "great" economist and his policy views:
The great economist John Maynard Keynes suggested that investment spending is in part determined by the “animal spirits” of investors, which he described as “a spontaneous urge to action rather than inaction.”
Which then leads him to ask:
WHAT can policy makers do to stoke animal spirits and encourage businesses to invest?
There you have it, these guys actually belive that the business cycle is about stoking animal spirits. Maybe this will help.


  1. I think "stoke animal spirits" is just a key-phrase for "do the taxpayers doggie-style."

  2. I think peyote is used to "stoke spirits". Maybe they can send investors free peyote.