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No two economic crises are identical. But the same questions recur. How did we get into this mess? How can we get out of it? How
No two economic crises are identical. But the same questions recur. How did we get into this mess? How can we get out of it? How
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2015-02-12
58
问题
No two economic crises are identical. But the same questions recur. How did we get into this mess? How can we get out of it? How do we avoid another? Some answers repeat themselves too. You can be pretty sure that sooner or later someone, quite possibly an anguished economist, will declare that economics itself has gone
astray
. The wisdom of some past master, whether celebrated or neglected, has been forgotten, and the economy is paying the price.
A new book, "Animal Spirits" follows this rule to the letter. The authors seek to answer the first of those three old questions and thus to provide some pointers about the other two. They do indeed believe that economics has lost its way. And their chosen economist is Keynes.
So far, so familiar. But this book is rather more than the usual lament about the failings of economics. Its authors are two of the discipline’s leading lights. Mr. Akerlof won a Nobel prize in 2001, in part for a classic paper explaining how markets may fail. Mr. Shiller sounded a warning about the "Irrational Exuberance" of the tech-boom stockmarket in a book of that name—and did the same for the housing market in a second edition.
The lesson that Messrs Akerlof and Shiller draw from Keynes is not just the standard one, of the usefulness of deficit finance in recessions. They borrow their title from "The General Theory of Employment, Interest and Money".
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 a result of animal spirits—of a spontaneous urge to action rather than inaction, and not as the outcome of the weighted average of quantitative benefits multiplied by quantitative probabilities.
Too much economics, say Mr. Akerlof and Mr. Shiller, has been built on the premise that humans are rational calculators. That is not a new criticism, even from economists. Over the past couple of decades Homo economicus has evolved into a being more like H. sapiens, as economics has drawn on psychology, biology and even neuroscience. "Behavioural" economics has shaped public policy—for instance, in encouraging people to save or in shaping the choice of investments in their pension pots. Behavioural economists have earned Nobel prizes. Mr. Akerlof and Mr. Shiller, however, complain that this evolution has been confined mainly to microeconomics. It is time for macroeconomics to catch up.
Which of the following is true according to the text?
选项
A、Macroeconomics has undertaken evolutionary change.
B、Markets may fail due to irrational exuberance.
C、Mr. Akerlof won the Nobel Prize for behavioral economics.
D、Economic crises occur with different manifestion.
答案
D
解析
属事实细节题。文章最后讲到微观经济学发生了巨大变化,但宏观经济学却差得很远,故选项A错误。选项B属于移花接木,将本书两名作者之前的成就拼凑而成,故错误。选项C同样是移花接木,行为经济学出现在最后一段,但是Akerlof获得诺贝尔奖并非因为这个,故错误。选项D是对文章第一句话的改写,故正确。
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0
考研英语一
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