KARTHIK SASTRY

How animal spirits affect the economy

Storytelling is central to how we interpret economic events. We recall economic history through haunting images of anxious crowds waiting to take money out of banks during the Great Depression or dejected office workers carrying cardboard boxes out of Lehman Brothers in 2008. We gauge inflation by comparing shopping baskets with friends and family. We grapple with the consequences of artificial intelligence by channeling our hopes and fears into science fiction.

1m ago
March 21, 2025
March 21, 2025

How animal spirits affect the economy

Storytelling is central to how we interpret economic events. We recall economic history through haunting images of anxious crowds waiting to take money out of banks during the Great Depression or dejected office workers carrying cardboard boxes out of Lehman Brothers in 2008. We gauge inflation by comparing shopping baskets with friends and family. We grapple with the consequences of artificial intelligence by channeling our hopes and fears into science fiction.