Books et al.Economics

Far from a Rational Crowd

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Science  15 May 2009:
Vol. 324, Issue 5929, pp. 883-884
DOI: 10.1126/science.1174219

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Animal Spirits How Human Psychology Drives the Economy, and Why It Matters for Global Capitalism by George A. Akerlof and Robert J. Shiller Princeton University Press, Princeton, NJ, 2009. 246 pp. $24.95, £14.95. ISBN 9780691142333.

Summary

Arguing for a "behaviorally informed Keynesianism," Akerlof and Shiller discuss a variety of macroeconomic topics including business cycles, inflation, unemployment, financial and real estate booms and busts, poverty, and monetary policy.