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Animal Spirits
Animal spirits is a term most famously employed by J. M. Keynes in The General Theory of Employment, Interest and Money to describe what has been characterized as waves of spontaneous optimism in the economy, noneconomic and/or irrational motivations, speculative economic activity, exogenous or random shocks to beliefs, self-fulfilling prophecies, irrational exuberance, or innate psychological drives, depending on the interpretation of this term that is being presented.
The famous passage from The General Theory on the investment process undertaken by entrepreneurs within capitalism is as follows:
There is the instability due to the characteristic of human nature that a large proportion of our positive activities depend on spontaneous optimism rather than on a mathematical expectation.… Most, probably, of our decisions to do something positive … can only ...
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- Crowdsourcing
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- Fraternities and Sororities
- Frequent Flyer Programs
- Gangs
- Google+
- Grameen Bank
- Hobby Networks
- Human Rights Networks
- Identity Theft
- Immigration Networks
- Innovation Diffusion Networks
- Investment Clubs
- Kickstarter
- Local Exchange Trading Systems (LETS)
- Loyalty Points
- Music Communities
- Neighborhood Organizations
- Network Analysis
- Networks and Consumption
- Networks and Labor Markets
- Networks, Marketing to
- Networks, Privacy in
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- Organized Crime Syndicates
- Pilgrimage Tours
- Policy Networks
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- Sexually Transmitted Diseases, Economics of
- Six Degrees of Separation Theory
- Sports Networks
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- Tumblr
- User-Produced Content
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- Education and Human Capital
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- Abilities
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- Compensation Principle
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- Family Vacations
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- Foregone Earnings
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- GED (General Educational Development)
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- Little Italy
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- Remittances
- Reparations for Japanese Internments
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- MARKED: Race, Crime, and Finding Work in an Era of Mass Incarceration
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- Antiforeclosure Movement
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- Occupy Wall Street
- Performing Race
- Political Campaigns
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- Populism
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- Riots
- Savings and Loan Debacle
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- Abundance and Scarcity
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- Antisocial Behavior
- Arousal and Economic Evaluation
- Attention, Capture of
- Automatic Impulse
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- Discounting
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- Fear
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- Habit
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- Mood (Irrational Exuberance)
- Nudges and Behavioral Economics
- Omnivorous Consumption
- Perception of Others
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- Personality
- Planned Parenthood
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- Quality of Life
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- Risk Taking
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- Stereotype threat
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- Time, Understandings of
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- Religious Life
- Charismatic Capitalism
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- Protestant Ethic and the Spirit of Capitalism, The
- Rich Dad Poor Dad
- Afterlife
- Altruism
- Beliefs About Money
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