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Animal Spirits
Open Source with Christopher Lydon
The Great Depression and the Power of Emotion
John Maynard Keynes' genius was in reading emotion, mass feeling. He realized then how much more difficult it was to address the Great Depression than he had originally thought. We'll just create some cheap money and everything will be all right again, you know, at first. But this wasn't enough clearly. And that's where we were in 1931.
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