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John Maynard Keynes

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Most, probably, of our decisions to do something positive, the full consequences of which will be drawn out over many days to come, can only be taken as the result of animal spirits—a spontaneous urge to action rather than inaction, and not as the outcome of a weighted average of quantitative benefits multiplied by quantitative probabilities.
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Book 4, Chapter 12, Section 7, p. 161
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Paraphrased variant: The markets are moved by animal spirits, and not by reason.

 
John Maynard Keynes

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