Animal Spirits: How Human Psychology Drives the Economy, and Why It Matters for Global Capitalism
(Princeton — $24.95)
Written by two of the top economists in the world, Animal Spirits is a bold and innovative work that tries to demonstrate how psychological factors led to the current mess. They started writing it together five years ago, which at times leads to it feeling like not all the parts fit together, but the main thesis is a vital one: People and businesses, long thought to act rationally, can wind up being anything but in times of boom or bust. And the ramifications can be sweeping.
