Aug 29, 2012 | 27:30The Invisible Hand Homo Economicus 2.0 Audio
The Invisible Hand Homo Economicus 2.0 Aug 29, 2012 | 27:30Economists often use models to explain economic theory at work. In the simplest models, we humans are depicted as coldly rational beings who compute all our options, and act in our own self interest. This prototype of a person is called Homo Economicus. New thinking, however, is giving us a much more well-rounded view of human behaviour within economics. In this episode we reveal a new model of a man, Homo Economicus 2.0.
Aug 29, 2012 | 2:35The Invisible Hand The Invisible Hand's Musical Finale (Web extra) Audio
The Invisible Hand The Invisible Hand's Musical Finale (Web extra) 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 Chorus brings you this musical round-up, to cover everything else. Okay, maybe not all of it, but as much as we could fit into 2 minutes.
Aug 22, 2012 | 27:30The Invisible Hand Perverse Incentives Audio
The Invisible Hand Perverse Incentives Aug 22, 2012 | 27:30In this episode, we learn about perverse incentives. Incentives are the rewards you get for engaging in certain behaviours. They aren't always material rewards, and they can be created unintentionally. They can also have unexpected and negative consequences.
Aug 15, 2012 | 27:30The Invisible Hand Paradox of Thrift Audio
The Invisible Hand Paradox of Thrift Aug 15, 2012 | 27:30When 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.
Aug 8, 2012 | 27:30The Invisible Hand Externalities Audio
The Invisible Hand Externalities Aug 8, 2012 | 27:30Sometimes in a transaction there are costs or benefits that nobody pays for. Economists call them externalities. On Episode Seven, we'll find out about an externality that some economists say could threaten the entire planet.
Aug 1, 2012 | 27:30The Invisible Hand Offshore Labour Audio
The Invisible Hand Offshore Labour Aug 1, 2012 | 27:30In this episode, we ask an economist, an activist, and a former sweatshop worker a question: as consumers, can we help improve the lives of sweatshop workers by boycotting sweatshop goods? You'll hear their answers in Episode Six.
Aug 1, 2012 | 13:25The Invisible Hand MSN's Kevin Thomas (Web extra) Audio
The Invisible Hand MSN's Kevin Thomas (Web extra) Aug 1, 2012 | 13:25In this web extra, you'll hear our interview with Kevin Thomas of the Maquila Solidarity Network. MSN recently released a report looking at wages, productivity and strategies for national competitiveness between developing nations.
Jul 25, 2012 | 27:30The Invisible Hand Moral Hazard Audio
The Invisible Hand Moral Hazard Jul 25, 2012 | 27:30In this episode we explore how the same economic principle that can lead to insurance and mortgage fraud, can also ensure the economy continues to get a boost from business start-ups.
Jul 4, 2012 | 27:30The Invisible Hand Gold vs. Chickens Audio
The Invisible Hand Gold vs. Chickens Jul 4, 2012 | 27:30In this episode we explore the value, price and utility of two commodities. When the gold standard of economic backup plans goes up against one of the most fowl, it's up to an economist to judge which one would be most valuable when traditional economies fail, like if there were a zombie apocalypse.