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  3. Journal of Economic Perspectives
  4. Summer 1991
  5. Retrospectives: Animal Spirits

Retrospectives: Animal Spirits

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Abstract

John Maynard Keynes argued that when the conditions for rational action are not present, people are driven by "animal spirits." This article briefly considers Keynes' argument, and the history of the term.

Citation

Koppl, Roger. 1991. "Retrospectives: Animal Spirits." Journal of Economic Perspectives, 5 (3): 203-210. DOI: 10.1257/jep.5.3.203

JEL Classification

  • B29 History of Thought since 1925: Other
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