In his 1936 book ‘The General Theory of Employment Interest and Money’ John Maynard Keynes outlined how rather than being independently rational, investors were often prone to erratic herd-like behaviour. He argued that macroeconomic stability is inherently vulnerable to the ‘animal spirits’ of speculators. The recent deflation of the post Global Financial Crisis (GFC) gold price bubble is a prime example of this phenomenon.
Getting the market ready for the NDIS
Jasmine Nguyen explains the rationale for the implementation of the National Disability Insurance Scheme and the necessary interventions to get it working as intended.
