The Invisible Hand | Aug 15, 2012 | 27:30

Paradox of Thrift

When times are tough, individuals and families often try to save a little extra in case they need it down the road. Politicians often talk about this kind of "belt tightening" for governments as well. But economists who follow the theories of John Maynard Keynes would say that approach is the wrong one for governments, and for society overall. On this episode, we explore the Paradox of Thrift, a concept that says when everyone saves all at once, overall savings can actually disappear.

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The Invisible Hand - Web Extra: The Invisible Hand's Musical FinaleAug 29, 2012 | 2:35The Invisible Hand Web Extra: The Invisible Hand's Musical Finale Audio
The Invisible Hand Web Extra: The Invisible Hand's Musical Finale Aug 29, 2012 | 2:35In our show we discuss "mainstream economics" - the kind of economics you'd learn in the average university course. Of course, there are many different kinds of economics, and we couldn't cover them all in our ten episodes. And so the Invisible Hand Choru

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