60-Second Adventures in Economics - for iPod/iPhone

60-Second Adventures in Economics - for iPod/iPhone

By The Open UniversityEducation
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60-Second Adventures in Economics - for iPod/iPhone episodes

  • 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.
    2 min
  • 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.
    2 min
  • Transcript -- 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.
    0 min
  • 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.
    2 min
  • Transcript -- 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.
    0 min
  • The Impossible Trinity
    The Impossible Trinity or 'trilemma' suggests that it is impossible for a country to maintain a fixed exchange rate, free capital movement and an independent monetary policy at one and the same time.
    2 min
  • Transcript -- The Impossible Trinity
    The Impossible Trinity or 'trilemma' suggests that it is impossible for a country to maintain a fixed exchange rate, free capital movement and an independent monetary policy at one and the same time.
    0 min

About 60-Second Adventures in Economics - for iPod/iPhone

From the publisher's feed

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…

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