The Paradox of Thrift

60-Second Adventures in Economics - for iPad/Mac/PC

English - August 29, 2012 08:00 - 1 minute - 16.7 MB Video - ★★★★★ - 12 ratings
Courses Education economics keynes david mitchell hayek friedman adam smith inflation trade markets exchange rates Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed

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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 thrifty together.