Sublime
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Keynes, the British economist, had discovered in his work that economies are not machines. They have souls, emotions, and feelings. Keynes called them “animal spirits.”
Morgan Housel • Same as Ever: Timeless Lessons on Risk, Opportunity and Living a Good Life
It has been said that man is the only animal that can feel sad after sex. Perhaps what makes money seem sexy is that we can similarly feel sad after buying something.
From “Full Pockets, Empty Lives” -Wachtel, 2003
Economist Per Bylund once noted: “The concept of economic value is easy: whatever someone wants has value, regardless of the reason (if any).” Not utility, not profits—just whether people want it or not, for any reason. So much of what happens in the economy is rooted in emotions, which can, at times, be nearly impossible to make sense of.
Morgan Housel • Same as Ever: Timeless Lessons on Risk, Opportunity and Living a Good Life
