animal spirits

Meaning

  1. The theorized ‘spirits’ or physiological principles which allowed for sensation and voluntary movement.
  2. Liveliness, vivacity, a happy tendency to action.
  3. After Keynes (citation 1936, above), the emotional and intuitive factors that drive business decisions whether to make investment gambles.

Etymology

In summary

From Middle English spirite animal; equivalent to animal (adjective) + spirits.

Notes

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