The Paradox of Thrift

AUG 29, 20121 MIN
60-Second Adventures in Economics - for iPod/iPhone

The Paradox of Thrift

AUG 29, 20121 MIN

Description

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.