Society, Politics & Law
60 second adventures in economics: The Paradox Of Thrift
...Open University's Economics courses. Transcript: Much like a child getting his pocket money, one of the biggest economic questions is still whether it’s better to save or spend. Free-marketeers like Hayek and Milton Friedman say that, even in difficult times, it's best to be thrifty and save. Banks then channel the savings into investment, in new plants, skills and...