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 Invisible Hand

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 trying to run an economy - whether to save or spend, control inflation, regulate trade, fix exchange rates, or just leave everyone to get on with it and not intervene. You'll learn why Adam Smith put such a high price on free markets, how Keynes found a bold new way to reduce unemployment, and what economists went on to discover about the impact of policy on people's and businesses' behaviour - which may not always be entirely rational...

Share The Invisible Hand

Sign up to save your podcasts

The Invisible Hand

The Invisible Hand

More shows like 60-Second Adventures in Economics - for iPad/Mac/PC

Reading Political Philosophy: From Machiavelli to Mill - Audio

Beginners’ Chinese - Audio

Investigating fungi: the wood-wide web - for iPod/iPhone

Space, Time and Consciousness - for iPod/iPhone

Nutrition: vitamins and minerals - for iBooks

Energy resources: alternative energy in perspective - for iBooks

Croeso: beginners' Welsh - Audio

David Hume: 18th Century Philosopher - Audio

Rheumatoid arthritis - a long term condition - for iPod/iPhone

Andante: beginners' Italian - Audio