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60-Second Adventures in Economics - for iPod/iPhone

60-Second Adventures in Economics - for iPod/iPhone

Released: 2012-08-29
© The Open University
60-Second Adventures in Economics - for iPod/iPhone - QR Code
12 Episodes
Video
Listen on Apple Podcasts
12 Episodes
Video
Listen on Apple Podcasts
Released: 2012-08-29
© The Open University
Most Recent Episode
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 core concept for so-called free-marketeers.
Time: 1:22
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.
Episode ID: 1000411350424
GUID: http://podcast.open.ac.uk/feeds/2190_60secondadventuresineconomics/ipod-all/21794_1__the_invisible_hand_itunesu.m4v
Release Date: 29/08/2012, 13:33:35

Description

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...

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