Tag: economics

October 28, 2019 admin123@ No comments exist

Invisible hand 1776 economics milestone:  Adam Smith’s Wealth of Nations.  Free markets ‘led by an invisible hand’ benefit all, not just the butcher, brewer or baker seeking profit.  No other idea in history has done more to raise global prosperity.  His pin factory study showed division-of-labour specialisation & productivity motivates trade.  The ‘invisible hand’ is…

March 22, 2017 admin123@ No comments exist

Ig Nobel  Prize for achievements that  make people laugh, then think.  2009 Economics Ig won by 4 Icelandic banks, for showing how tiny banks can rapidly become huge banks, & vice versa – & similar for an entire national economy What’s the Word?   Series 2 (8/10)  [photo: Alexas_Fotos]