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Mon 10 Aug, 2009 10:52 am
Animals Spirits is the colourful name that Keynes gave to one of the essential ingredients of economic prosperity: confidence. According to Keynes, animal spirits are a particular sort of confidence, "naive optimism". He meant this in the sense that, for entrepreneurs in particular, "the thought of ultimate loss which often overtakes pioneers, as experience undoubtedly tells us and them, is put aside as a healthy man puts aside the expectation of death". Where these animal spirits come from is something of a mystery.
i made that bold because i don't understand the meaning of that .
Can anybody simplify ?
@tintin,
Pioneers in business are able to ignore the possibility of failure, even though experience tells us that it might happen, in the same way that a healthy man is able to ignore the fact that he might die. (As experience tells us will inevitably happen)
@contrex,
Yes, I agree with contrex.
He is giving a definition of the kind "confidence" needed to succeed in the business world. We must be like a pioneer who kept exploring, even though there was the possiililty that he might die.
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