From: [EMAIL PROTECTED]
Subject: Re: stock market & investment
Again, I don't think anybody on this list has seriously
questioned your [Doug's] arguments that Keynes may have been wrong
when he asserted in a few places that real capital investment is
determined by what goes on on Wall Street, etc. On the other hand we
have all pointed out that that is only a part of Keynes's argument
about real capital investment which involves a number of ideas that
do not appear, or very clearly so in Marx, e.g. fundamental
uncertainty/animal spirits.
Barkley Rosser
***
Would somebody please to give us a brief primer on "animal spirits" ?
[And I don't mean dogs or ducks, thanks all the same.] What was
Keynes on about this one? What is the difference between risk and
uncertainty?
Thanks,
Lisa
