60-Second Adventures in Economics Video Clip Collection

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Ever shaken an invisible hand? Been flattened by a falling market? Or wondered what took the bend out of Phillips' curve? In these animated thought experiments, comedian David Mitchell sheds light on six of the great dilemmas faced by governments trying to run an economy. Video clips include: *The Invisible Hand: Economist Adam Smith used the term "invisible hand" to describe the self-regulating nature of the marketplace-a core concept for so-called free-marketers. So why do governments usually end up taking things into their own more visible hands instead? *The Paradox of Thrift: As with a child getting an allowance, one of the biggest economic questions is still whether it's better to save or spend. John Maynard Keynes' advice to governments? Spend during hard times and tax during better times to keep unemployment from skyrocketing. *The Phillips Curve: Economist Bill Phillips' curve represents an inverse relationship between the rates of unemployment and inflation.