Another iteration was floated this week by a group of Nobel laureates including Ned Phelps, Vernon Smith and George Akerlof.

WSJ: Review & Outlook: Paul Ryan and His Critics

As George Akerlof and Bob Shiller explain in their terrific book, titled Animal Spirits, confidence creates its own kind of multiplier.

FORBES: The Economic Forecasts are Wrong, Which is Probably Good News

He shared that prize with George Akerlof and Michael Spence.

FORBES: Intelligent Investing Briefing Book