Podcasts by 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
Further podcasts by The Open University
Podcast on the topic Kurse
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The Invisible Hand from 2012-08-29T09:03:35
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.
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Transcript -- The Invisible Hand from 2012-08-29T09:03:34
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.
Listen
The Paradox of Thrift from 2012-08-29T09:00:52
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 thri...
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Transcript -- The Paradox of Thrift from 2012-08-29T09:00:51
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 thri...
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The Phillips Curve from 2012-08-29T08:57:56
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...
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Transcript -- The Phillips Curve from 2012-08-29T08:57:55
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...
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The Principle of Comparative Advantage from 2012-08-29T08:55:20
David Ricardo's famous economic model, predicts that if there are just two countries and two products both can be better off if they specialise and trade in the thing they’re relatively best at.
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Transcript -- The Principle of Comparative Advantage from 2012-08-29T08:55:19
David Ricardo's famous economic model, predicts that if there are just two countries and two products both can be better off if they specialise and trade in the thing they’re relatively best at.
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The Impossible Trinity from 2012-08-29T08:52:09
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.
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Transcript -- The Impossible Trinity from 2012-08-29T08:52:08
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.
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Rational Choice Theory from 2012-08-29T08:49:41
Without a belief in rational behaviour, it’s hard to design an economic policy with predictable results. In practice, people's errors or misinformed choices can frustrate policy design.
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Transcript -- Rational Choice Theory from 2012-08-29T08:49:40
Without a belief in rational behaviour, it’s hard to design an economic policy with predictable results. In practice, people's errors or misinformed choices can frustrate policy design.
Listen