The Invisible Hand
1m
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60-Second Adventures in Economics - for iPad/Mac/PC
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Economist, Adam Smith, used the term The Invisible Hand to describe the self-regulating nature of the market place - a core concept for so-called free-marketeers.
The episode The Invisible Hand from the podcast 60-Second Adventures in Economics - for iPad/Mac/PC has a duration of
1:22. It was first published
More episodes from 60-Second Adventures in Economics - for iPad/Mac/PC
The Invisible Hand
Economist, Adam Smith, used the term The Invisible Hand to describe the self-regulating nature of the market place - a core concept for so-called free-marketeers.
Transcript -- The Invisible Hand
Transcript -- Economist, Adam Smith, used the term The Invisible Hand to describe the self-regulating nature of the market place - a core concept for so-called free-marketeers.
The Paradox of Thrift
The Paradox of Thrift suggests that while it may be wise for an individual to save money when income is low and job prospects are precarious, it could be collectively disastrous if everyone is thrifty together.
Transcript -- The Paradox of Thrift
Transcript -- The Paradox of Thrift suggests that while it may be wise for an individual to save money when income is low and job prospects are precarious, it could be collectively disastrous if everyone is thrifty together.
The Phillips Curve
Bill Phillips' curve has historically been described as an inverse relationship between the rate of unemployment and the rate of wage (and therefore price) inflation - but since his analysis became popular the relationship has changed.