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 c... Read more
29 Aug 2012
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1min
The Paradox of Thrift
The Paradox of Thrift
The Paradox of Thrift suggests that while it may be wise for an individual to save money when income is low and job pros... Read more
29 Aug 2012
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1min
The Phillips Curve
The Phillips Curve
Bill Phillips' curve has historically been described as an inverse relationship between the rate of unemployment and the... Read more
29 Aug 2012
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1min
The Principle of Comparative Advantage
The Principle of Comparative Advantage
David Ricardo's famous economic model, predicts that if there are just two countries and two products both can be better... Read more
29 Aug 2012
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1min
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The Impossible Trinity
The Impossible Trinity
The Impossible Trinity or 'trilemma' suggests that it is impossible for a country to maintain a fixed exchange rate, fre... Read more
29 Aug 2012
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1min
Rational Choice Theory
Rational Choice Theory
Without a belief in rational behaviour, it’s hard to design an economic policy with predictable results. In practice, pe... Read more
29 Aug 2012
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1min
