The Invisible Hand aired on CBC Radio throughout the summer of 2012.

We're no longer on the air, but all episodes are still available on-demand and as podcasts.

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Economists 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 only in our own self interest.
This prototype of a person is called Homo Economicus.
New thinking by researchers like Duke University's Dan Ariely, 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.

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In our show we discuss what's called "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.

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Incentives are the rewards you get for engaging in certain behaviours. They are often created by governments or other organizations to encourage people to act in a certain way, without mandating the behaviour. For example, you may get a tax break if you donate to a charity.
But incentives can also be created unintentionally, and they can have unexpected and negative consequences.

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When financial times are tough, individuals and families tend to tighten their belts, and try to use their money more frugally. You'll sometimes hear politicians saying governments should do the same - pledging austerity budgets, and restrained spending.
But there is a concept in economics called The Paradox of Thrift.

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