In the run-up to this weekend's G-8 summit at Camp David, journalists have unfavorably compared European "austerity" with Barack Obama's economic policies.

In framing their policy response to the present economic recession, U.S. and U.K. policymakers would do well to take that research seriously rather than to engage in wishful thinking that somehow animal spirits will quickly restore the two economies to their potential growth paths.

The animal spirits of high earners are going to be directed away from productive investment and toward tax avoidance.

Nick Schulz reviews Animal Spirits.

The policy stimulants administered in very large doses to the U.S. economy at midyear are wearing off fast.

John Maynard Keynes's statement about animal spirits has provoked decades of controversy among economists.

What is imagination? How does it work and what effects does it have on human lives and human communities?

This is an all too familiar story, the FDA impeding useful innovations in the US entrepreneurs here are forced to test promising medical devices in costly animal studies for years before they can advance their products into clinical trials. In response, American device makers are moving their business overseas.