The Irish Times have just published my review of Animal Spirits, the new book by economists George Akerlof and Robert Shiller. It is available here.
The focus of the book (and of my review) is about how macroeconomics went off in the wrong direction because of the inability of quantitative economics to include uncertainty and volatility in mathematical models. When they couldn’t include these variables in their work they just ignored them completely. All of this had disastrous consequences for economics and now, the economy.
