Animal Spirits - How Human Psychology Drives the Economy and Why It Matters for Global Capitalism - by Robert A Akerlof and Robert J Shiller[Reading report] by Yoann Kassi-Vivier


The author was part of the “Alternative Management” third year program in HEC in 2012. Yoann Kassi-Vivier also deeply devotes himself to the third sector and social entrepreneurs. As a student, he created the Fight Club HEC, that gives the opportunity to 70 students every year to train in combat sports. Since January 2011, he is at the head of the association Pro Bono Lab, that he created. The association is specialized in sharing the competences of volunteers and companies, so as to sustain and support the development of associations of general interest and social utility.

Economic agents are not omniscient homo economicus: on the contrary, most of their decisions are driven by “animal spirits”, especially confidence, fairness, monetary illusion and stories. Those are the ways of thinking that drive ideas and feelings of human beings. Although they are neglected by economists, Akerlof and Shiller claim that animal spirits play a major role in economic fluctuations. The authors revisit famous episodes of economic history and analyze the answers that could be brought to the current crisis.

Quote article  Yoann Kassi-Vivier, « Animal Spirits - How Human Psychology Drives the Economy and Why It Matters for Global Capitalism - by Robert A Akerlof and Robert J Shiller », 17 may 2012, Alternative Management Observatory (AMO), [Reading report]

In the same section

"Degrowth": genealogy and circulation of a concept

[Research paper]

[Research paper] : Michaël Bruckert

In this paper, we intend to analyze the French concept of « décroissance » or for « economic downsizing» or « voluntary simplicity ». It is a historical approach, which discusses it's birth, evolution and spread in the intellectual and activist sphere. We focus on the first critics of...

>>Read more

Corporate involvement for local development in disadvantaged neighbourhoods

[Research paper]

[Research paper] : Domitille de la Morinerie

Many private initiatives for the development of disadvantaged neighborhoods currently arise in line with public policies (more specifically urban policies). This research aims at demonstrating how private actors are more and more sensitive to social issues and how and why they can develop a...

>>Read more

Triodos: the sustainable bank - by Olivier Marquet


[Proceedings] : Olivier Marquet

Olivier Marquet talks about working in the banking sector, as he does in the role of director of Triodos Belgium. For Olivier Marquet, the first role for a bank is to collect the savings of individuals in order to finance business projects. Through the success of Triodos, he shows that it is not...

>>Read more

Reconciling deconsumption with the market economy : different approaches


[Essay] : Lauren Haddon, Ronan de Pins, Jordane Lagneaux, Yann Auger, Vaïté Leprince-Ringuet

This selection of five essays is an indicative tribute to the opening aspirations of the Alternative Management Major Class of 2008/9. The five works, each distinct and different, exemplifies and reflects the subjective, individual responsiveness of the authors to the challenge set in the title of...

>>Read more

The mystery of capital: why capitalism triumphs in the West and fails everywhere else - by Hernando de Soto

[Reading report]

[Reading report] : Sylvia Marie d'Albertas

Why does capitalism triumph in the West and fail everywhere else? That is the question that Hernando de Soto tries to answer in this book about the mystery of capital. With an analysis of the private property systems in developing countries and countries from de ex-communist bloc, the book shows...

>>Read more

With the same doctype

Reading report

Organic agriculture, from doing... The study of the book Organic... by Marine d'Allancé
Small is beautiful, Economics as if... This text aims to resume the book... by Claudia Pöpperl
Is Capitalism self-destructive? - by... This paper is not a faithful summary of... by Florent Gitiaux
The Religion of Capital - by Paul... This reading guide reveals how Paul... by Adrien Couret
The Cathedral and the Bazaar - by Eric... This essay by E. S. Raymond is one of... by Marie Mourad
The Rebel III - by Mongo Béti Le Rebelle III is a collection of Mongo... by Amine Habiballah
Crisis of capitalism and death wish -... This book aims at linking two 20th... by Antoine Desjonquères
XY, On masculine identity - by... XY, On masculine identity is an essay... by Anais Denoits
Towards Happy Moderation - by Pierre... This book is the testimony of Pierre... by Laure Cassaigne
End of the West, birth of the World -... Coming back to the origins of mankind,... by Matthieu Dardaillon