George A. Akerlof And Robert J. Shiller 's ' Animal Spirits '

In the book Freakonomics, written by economist Steven D. Levitt and journalist Stephen J. Dubne, the authors go through different parts of modern life to show how economics describes why people act a certain way as well as the way specific outcomes occur. They look into different aspects of society and view them with different perspectives. With the use of specific data and the fundamentals of economics, the very obscure comparisons and the different chapters in the book show correlation between economics and human nature. The main point of this book is to explain a few fundamental ideas through the answers of strange questions and how they play a major role in society.

In this chapter, Wheelan shares two lessons about the role of government in the economy. These are: First, he states that "the government must not be the sole provider of a good or service unless there is a compelling reason to believe that the private sector will fail in that role." He expounds further that the government will be freer to take care of things that need to be really handled by the government. There are things that the government should not be doing because when it dips its hands on that, it will presumably be inefficient. He cites the example of postal mail. He posits that the technology today has radically changed and things need to be implemented differently. The second point is that even if the government has an important role to play in the economy, it need not be the actual one to do the work (p 66).

The book I decided to read was Spirit Animals Book 2 – Hunted, because I’ve already read the first book and decided to read the second one for this task.

Mind over Money is a documentary that examines the debate weather our fanatical decisions are driven by human emotion or weather we make fanatical decision based on our rational. This debate is divided by two sides of economic model, the “rationalist “and the “behaviorist”. The rationalist model is based on Adam Smith model dating two hundred years ago, and the behaviorist model is based on the result of the psychological studies made by scientist. It mentions how the 2008 was devastating for the economy “The financial and economic crash of 2008, the worst in over 75 years, is a major geopolitical setback for the United States and Europe. O.” (Altman, pg. 2). The crash in 2008 mattered because much of the behavior is unexplained by the basis

Imagine you are having dinner with your family, at your favorite restaurant. You exchange stories about your day along with smiles and laughter. Now imagine suddenly being knocked out, and the next thing you know, you are taken away from your family, confined in a cage in captivity. You notice instruments near you and realize it's for experimentation. You cry out in protest, but they continue anyway. This is the life of many animals who are vulnerable and can’t defend themselves against neglect and abuse. Therefore it is our moral responsibility to protect animals. Animals should have certain rights to protect them from being treated inhumanely. Animals are similar to humans and shouldn’t be experimented on, held in captivity or have their natural habitats destroyed.

In the Book, Pop, Why bubbles are Great for the Economy by Daniel Gross, there is an explanation of why people today do not understand the agitations and turmoil that create barriers to improving the economy. The ideas that economist hope to see in the world, are very farfetched from actuality. This world that they think of is a dream that is practically perfect in the way of allocating resources and making sure everything is done in the best possible way. However, people cannot all see the bigger picture and have faith that it will be what is good for the economy. Instead, our economy is centered over a few main points which are self-indulgence, entrepreneurship, and sometimes this can cause mayhem within the economy. Daniel explains how Americans handle our economy growing and new things coming to the public’s eye as if losing their marbles and everything crumbles from there. The book discusses different time periods that bubbles got out of hand and because of that people were hurt financially. People got hurt because the prices of different markets rose when the economy was not ready for it to raise. The different industries that the book exhibits are telegraphs, railroads, the internet, real estate, and alternative energy.

I am reading the book Spirit Animals The Book Of Shane by Tui T. Sutherland and the book is fantasy. The book has 186 pages. According to a review on Amazon Spirit Animals the Book Of Shane is the number 1 best Spirit Animal book made by Tui T. Sutherland. In my opinion Spirit Animals is is a good book for 10-15 because it has some hard words that are

Throughout society there are many elements that can affect an individual’s life blamelessly, an economy is one of the most significant influences in an individual's life. Although the performance of the economy isn’t always present in an individual’s thought process indefinitely, it plays a key role in almost any decision one makes. The purpose of conducting this research is to place heavy emphasis on the gruesome financial crises that took place in the time period of December 2007 and ended June 2009, the disastrous financial crisis is notoriously known as The Great Recession of 2008. By analyzing and identifying The Great Recession of 2008 it allows us to fully gauge the validity of the crisis and the effects it had on the

The “Great Recession,” the name given to the financial crisis that occurred in the United States between 2007 and 2009, saw the biggest contraction of the US economy since World War II (Amadeo). Real GDP fell as sharply as a -6.4% annual rates and unemployment rose above ten percent in the aftermath of the crisis. The primary culprit of the Great Recession was the US housing market. New financial instruments that allowed for lending to subprime customers, along with deregulation of the banking industry, and asymmetric information produced by credit agencies all played significant roles in these happenings. Moral hazard on behalf of financial product providers ultimately led to the asymmetric information that allowed the housing market to collapse.

John Maynard Keynes was the most influential economist of the 1900’s and many of his ideas were adopted by Franklin D. Roosevelt to combat the Great Depression of the 1930’s. With the passing of the economic crisis in 2008, countless articles have been published supporting Keynes and his economic thought. He originally investigated the origins of the Great Depression and remodeled the field of economics with a basic conclusion: economies recover from downturns by spending money. Keynes theorized that during financial downfalls, the public becomes frightened and decreases spending, this leads to more layoffs, which in turn leads to an even greater decline in consumption, creating a vicious cycle. Many of Keynes’ theories in The General Theory of Employment, Interest, and Money (1936) are accurate, but are often overlooked in the legislative sector, due to political agendas triumphing over logic. “When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done. The measure of success attained by Wall Street . . . cannot be claimed as one of the outstanding triumphs of laissez-faire capitalism.” I will be addressing Keynes’ concept of business cycles in The General Theory of Employment, Interest, and Money—mainly focusing on the 2008 financial crisis—and analyze whether or not these arguments are more or less accurate than his other conclusions. I strongly believe that many of his ideas are true as he

Spirit animals are typically associated with traditions as well as modern western societies. in many traditions of the world, the spirit animal is considered in usage of guidance and leading of people. Many individuals believed that the spirit animals guided them during dangerous times and times of hardships. The spirit animal is characterized by a personal relationship to the individual the individual is associated with. it is said that a spirit animal can have one or more than one spirit animal depending with the characters of the individual(Levi, 2001).

During the housing boom, the insecurity of consumer’s financial situations was used by those in finance to make a profit. Many entities were enticed by their greed to take risks and cut corners that ultimately affected the consumer, not themselves. The consumer’s own search for profit and their trust in the housing market made it easy for them to be lured into the gambling game being played by banks and investors.

To appreciate why certain events that led to the financial crisis were allowed to continue, one must understand economic theories put forth by Adam Smith. In 1776, Adam Smith wrote about the ‘invisible hand’ of the market, that is,

Low interest rates will also alter the behaviour of consumers, businesses and banks. One of which is excessive risk taking as credit is more accessible. Especially after the financial crisis when the economy is in recovery mode, individuals and institutions might take unnecessary gambles in order to recoup what they have lost. This will lead to a high credit bubble where people are unable to repay their loans. However, people might react differently. They might be more prudent with their money thus reducing the demand, which will lead to an economic decline. As human behaviour is not possible to quantify and predict accurately, this presents the government with a dilemma,

Money has mould, transformed and created a society where monetary security has triumphed over the essential concept of time and human morality, this correlating relationship has been highlighted in the paper, Psychological Science: Time, money and morality. Freud reinforces this point as ““…money questions will be treated by cultured people in the same manner as sexual matters, with the same inconsistency, prudishness and hypocrisy.” (Richard Trachtman 1998, http://www.richardtrachtman.com/pdf/moneytaboo.pdf). The paper successfully demonstrates the influence of irrational financial and monetary responsibility instilled onto human ethics and the concept of time through the multiple experiments. Through the various experiments within a