Animal Spirits


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Animal Spirits

1. An informal term for consumer confidence used by John Maynard Keynes. The term has made a comeback since the 2000s economic crisis renewed interest in Keynesianism.

2. A slang term for the foolishness of taking a large risk in entrepreneurship by, for example, mortgaging one's house to finance an untried business venture.
References in periodicals archive ?
If the BoE is able push forward the date of when the market and consumers expect interest rates to rise, animal spirits may be sustained for longer, which should support the real economy.
Public-sector decisions not only affect the probable consequences of various courses of action but also influence animal spirits.
There are then eight chapters that follow each of which develops how animal spirits can be used to better understand a specific economic question.
Of course, the reference to animal spirits was something of a throwaway line for Keynes, not central to his diagnosis of the crisis tendencies of capitalism.
It is about life-sustaining beaver and goose, martin and moose--and their animal spirits that command respect.
The Costa Rican slit drum features a feline crouching at its top, again referencing the relationship between animal spirits and shamanic transformation.
What Keynes called the animal spirits of the entrepreneur need to be reenergized," Weintraub asserts.
Barsky, University of Michigan and NBER, and Eric Sims, University of Michigan, "Information, Animal Spirits, and the Meaning of Innovations in Consumer Confidence"
An imaginative collection of 'choice' melodies, Whitehorse (Mirabal) interprets our animal spirits with Native American flute, keyboards, tribal drums and world music instruments.
Until she is tricked by a bush baby and "borrowed" by the Animal Spirit Kingdom, she does not know that she has an ability to communicate with the animal spirits.
Federal Reserve Board Governor Kevin Warsh (2006) argued that businesses were more risk-averse than "warranted by economic fundamentals" and that diminished animal spirits may be one reason for the slow recovery of investment.
In the old days, the Elders would take that baby from the parents to discover which auras and colors surrounded them and which special animal spirits protected them," Walter explained.