Cover image of 60-Second Adventures in Economics - for iPod/iPhone

60-Second Adventures in Economics - for iPod/iPhone

Ever shaken an invisible hand? Been flattened by a falling market? Or wondered what took the bend out of Phillips' curve? David Mitchell helps reveal some of the great dilemmas faced by governments tr... Read more

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The Invisible Hand

The Invisible Hand

Economist, Adam Smith, used the term The Invisible Hand to describe the self-regulating nature of the market place - a c... Read more

29 Aug 2012

1min

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The Paradox of Thrift

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 pros... Read more

29 Aug 2012

1min

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The Phillips Curve

The Phillips Curve

Bill Phillips' curve has historically been described as an inverse relationship between the rate of unemployment and the... Read more

29 Aug 2012

1min

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The Principle of Comparative Advantage

The Principle of Comparative Advantage

David Ricardo's famous economic model, predicts that if there are just two countries and two products both can be better... Read more

29 Aug 2012

1min

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The Impossible Trinity

The Impossible Trinity

The Impossible Trinity or 'trilemma' suggests that it is impossible for a country to maintain a fixed exchange rate, fre... Read more

29 Aug 2012

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Rational Choice Theory

Rational Choice Theory

Without a belief in rational behaviour, it’s hard to design an economic policy with predictable results. In practice, pe... Read more

29 Aug 2012

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