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The Education Forum

Animal Spirits in the White House

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Glenn Beck interviewed the authors on his show on Thursday, May 14, for about 10 minutes. He tried to impress the two very boring and dour "economists", who put coffee to sleep, that he admired their book, but disputed how the white house was using it to "promote the economy" with false optimism.

If this does not make sense, you do not have the right animal spirits. This is a term that Obama actually used in a recent press conference, the "animal spirits". Akerlof is especially brain dead in his appearance.

Their book contends that a depression actually depresses the animal spirits that are necessary for economic recovery, and that government must intervene to restore the "animal spirits" and promote economic recovery. This is actually a very Cartesian approach to liken human to animal psychology, which is the core of behaviorism.

In fact, the manic Wall street traders are depressed right now, since the world is ignoring them. The New Yorker has a longer article which is another one of these " connect the dots" to understand the financial collapse. AT the end of the article, the hedge fund trader that the author followed for a few years concluded that "capitalism without bankruptcy is like christianity without hell".

Then he remarked, " if long term bonds go up, we are finished

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