Thursday, September 24, 2009

Are Star Wars' 'fear' and 'anger' equivalent to Keynes 'animal spirits'?

If so, I am afraid that Richard Posner has given himself over to the dark side (via Greg Mankiw).

I appreciate Keynes' criticism of psychology in the economy, but his proposed solutions seem discredited since the 70s. I guess he reminds me of Karl Marx--great problem statement, not great solution to fix the problem.

UPDATE: Don Boudreaux lists some corrections for Posner.

No comments:

Post a Comment