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Such decisions can be taken, Keynes wrote, only as a result of "animal spirits—of spontaneous urge to action rather than inaction, and not as the outcome of a weighted average of quantitative benefits multiplied by quantitative probabilities".
We can't know the future, and therefore our inclination to act, to do things, "can only be taken as a result of animal spirits — of a spontaneous urge to action rather than inaction".
Such decisions can be taken, Keynes wrote, only as a result of "animal spirits — of spontaneous urge to action rather than inaction, and not as the outcome of a weighted average of quantitative benefits multiplied by quantitative probabilities".
Given these constraints, decisions to invest "can only be taken as a result of animal spirits — of a spontaneous urge to action rather than inaction, and not as the outcome of a weighted average of quantitative benefits multiplied by quantitative probabilities".
In his 1936 book, "The General Theory of Employment, Interest and Money," the English economist used it to describe "a spontaneous urge to action" on the part of business people, one based on a general outlook of optimism rather than an individual cost-benefit analysis.
It might erupt as a spontaneous urge to sing and express emotions out loud while riding in a friend's pick-up truck, or while hiking in Iceland near her cottage.
Similar(51)
Mr. Znaider's idiosyncratic phrasing and thoughtful music making rendered the work fresh, although he sometimes seemed the more spontaneous partner, urging the orchestra forward.
Resistance of the DBA/1J background against spontaneous arthritis urged us to examine CIA in D/J.gp130F759.
Everyone wears jeans, but without that spontaneous, if faint urge that so many young Americans feel, to slouch against an imagined hitching post, narrowing their eyes against the sun.
We learnt a lot, perhaps most importantly that people will always be spontaneous (despite the urge to be more organised) and hence we had to address the problem while allowing and even encouraging this spontaneity.
Gingrich, by contrast, is an amalgamation of spontaneous drives and urges, whose flights of exhilaration, intelligence, and anger have made him the most stirring, the most mercurial, and the most uneven candidate in the race.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com