Today’s “Word of the Day” is “animal spirits“ and it is a plural noun meaning “it refers to the emotions and instincts that guide the behaviour of investors and consumers in a market economy. It was coined by British economist John Maynard Keynes in his 1936 book The General Theory of Employment, Interest, and Money, to explain the persistence of economic fluctuations under capitalism”.
Example Sentence: The rules of governance of capitalist and democratic institutions have always been in tension within societies. Capitalist institutions want to be unfettered by democratic regulations to make it easier to do business. Democratic institutions want to rein in the competitive animal spirits, red in tooth and claw, of capitalism to create a more compassionate capitalism that improves the world for everyone, not only for financial investors.
This word is present in The Hindu article India’s role in a disordered world and click here to read it.
Courtesy: The Hindu
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