"Above all, they challenge the reigning free-market ideology of the past 30 years or so, from the rise of Margaret Thatcher and Ronald Reagan to the abrupt arrival of the present crisis late last year. That ideology held that markets should operate free of government because they were rational. But if animal spirits influence behavior, then government must play a broad, disciplinary role, and do so permanently."
Louis Uchitelle in The New York Times reviews George A. Akerlof and Robert J. Shiller's Animal Spirits: How Human Psychology Drives the Economy, and Why It Matters for Global Capitalism.
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