Brad DeLong — THE MUST-READ OF MUST-READS on the links between behavioral finance and macro

Summary:
THE MUST-READ OF MUST-READS on the links between behavioral finance and macro: John Maynard Keynes (1936): The State of Long-Term Expectation: The General Theory of Employment, Interest and Money: Chapter 12: "If I may be allowed to appropriate the term _speculation for the activity of forecasting the psychology of the market, and the term enterprise for the activity of forecasting the prospective yield of assets over their whole life, it is by no means always the case that speculation predominates over enterprise. As the organisation of investment markets improves, the risk of the predominance of speculation does, however, increase... Grasping RealityTHE MUST-READ OF MUST-READS on the links between behavioral finance and macroBrad DeLong | Professor of Economics, UCAL Berkeley

Topics:
Mike Norman considers the following as important: Behavioral Finance, capital allocation, enterprise, hoarding, john maynard keynes, macroeconomics, speculation

This could be interesting, too:

Steve Roth writes John Maynard Keynes Doesn’t Seem to Know What He Means by the Word “Spending”

Matias Vernengo writes Lance Taylor (1940-2022) and his legacy

Cullen Roche writes The Psychology of the Stock Market, in One Image

Dan Crawford writes 2020 “Globie”: The Carry Trade