Society, Politics & Law
60-Second Adventures in Economics
...businesses' behaviour - which may not always be entirely rational... The Invisible Hand Economist, Adam Smith, used the term The Invisible Hand to describe the self-regulating nature of the market place - a core concept for so-called free-marketeers. The Paradox of Thrift The Paradox of Thrift suggests that while it may be wise for an individual to save money when income...