Keynes used the phrase animal spirits to describe the feelings of entrepreneurs, and he argued that these feelings affect investment decisions.

Name: Keynes used the phrase animal spirits to describe the feelings of entrepreneurs, and he argued that these feelings affect investment decisions.
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Keynes did use the phrase "animal spirits" to describe the psychological factors that influence economic activity, including the feelings of entrepreneurs and their willingness to invest.

Keynes Used the Phrase Animal Spirits to Describe the Feelings