And sentiment--or animal spirits if you prefer Keynes' term--correlates to the current-quarter GDP growth rate.

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Not to mention that the so-called animal spirits are back, referring to favourable attitudes toward risk and the markets.

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One of the main justifications for quantitative easing is that higher asset prices will ultimately instill confidence, igniting so-called animal spirits.

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An international version of animal spirits gone scaredy-cat?

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Keynes chose Freud, mostly, and saw economies as essentially being driven by unconscious, pre-human impulses (animal spirits).

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To understand how ultra-easy money for a prolonged period of time misguides animal spirits, we define and distinguish two forms, demand-side entrepreneurship and supply-side entrepreneurship.

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But private payrolls, a better indicator of the economy's animal spirits, have posted their biggest two-month advance since 2006, at 470, 000.

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And that the Keynesian view of interest rates holds that they are the result of chaotic animal spirits and do not fulfill a truth-telling function.

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The pre-eminent goal ought to have been to rebuild business and consumer confidence and encourage the revival of animal spirits.

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