Never Saw It Coming

"Not my fault and who's the asshole that said all the exuberance was irrational?"

Never Saw It Coming

The former chair of the U.S. Federal Reserve asks how so many experts- including him- failed to see the 2008 financial crisis approaching. An important part of the answer to that question is a very old idea: Keynesian "animal spirits-" the irrational elements of decisionmaking that have been left ou…





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