Ritalin, Animal Spirits and the Productivity Puzzle
Tony Ward
Abstract:This article argues the importance of animal spirits throughout the economy in improving productivity performance. It overviews the idea of animal spirits and people's level of confidence in undertaking economic activity. It then notes a gap, a missing residual, in economists' efforts to understand productivity growth. Two well‐documented measures indicating animal spirits are the levels of social trust and of corruption. Surveying the literature, the article shows both of these correlate with economic perform… Show more
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