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.

Join AEI's Election Watch team for a reflection on past races and a look ahead at what's to come.

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

Health care reform, financial reform, and the Consumer Protection Act have made it difficult for businesses to predict their future costs. The uncertainties associated with these acts have led to reluctance on the part of businesses to hire or to invest in long-term assets.

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