Animal spirits is a term used by economist John Maynard Keynes in his 1936 book The General Theory of Employment, Interest and Money to describe the instincts, proclivities, and emotions that influence and guide human behavior, and which can be measured in terms of consumer confidence[1][2]. Animal spirits represent the emotions of confidence, hope, fear, and pessimism that can affect financial decision-making, which in turn can fuel or hamper economic growth[2]. The term animal spirits has also been used by scientists to describe how the notion of the vitality of the body is used[1]. Animal spirits can be seen as our interpretations of economics and the economy, our mental/psychological forces and constructs[4]. The concept of animal spirits is relevant to market psychology and behavioral economics, and it sheds light on complex issues and leaves readers with a better grasp of undercurrents and a rediscovered belief in principles of common sense and caution[3]. The Animal Spirits podcast is a show about markets, life, and investing that discusses all things financial markets, personal finance, favorite books, movies, and TV shows, parenting, the asset management business, and more[5][6].
Citations:
[1] wikipedia
[2] investopedia
[3] princeton
[4] amazon
[5] apple
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