Economics Explained

Zimbabwe has not had the best past economically speaking. But what they do have is as much as 20% of the world's demand for lithium, the biggest deposits in Africa. So now that the raw lithium export ban has kicked in, and refining operations have started in Zimbabwe itself, will the country gain a massive advantage by exporting this incredibly necessary component of computers, electric cars and t...

Oil and GDP are closely linked together, with the more oil consumed by a country generally meaning the higher the GDP of that country. With that said, energy costs of solar, wind and other technologies have come down substantially in recent decades meaning that "clean" solar power is actually one of the cheapest ways to generate electricity over its lifespan. So why haven't we switched completely...

Head to https://factormeals.com/eep50 and use code eep50 to get 50% off. In this video we delve into Somalia's perilous economic situation after the government collapse in 1991, and reform in 2012. How are international relations, is there potential for recovery, and what lessons can we learn from this extreme economy. Learn more about your ad choices. Visit megaphone.fm/adchoices

Greece became infamous for their economic stagnation following adoption of the Euro and subsequent over-spending and debt accumulation. But in recent years their economy has been improving and, while it isn't out of the woods yet, there have definitely been big improvements that are worth celebrating. Are they still broke, or will Greece's economy be an example to others how to recover from financ...

Florida is growing... fast. Actually faster than most other states, which is astounding given that it is already the fourth largest state economy in the US. This might sound like great news for Floridians and the USA at large, but is there a hidden cost behind Florida's rapid growth? Learn more about your ad choices. Visit megaphone.fm/adchoices

There is perhaps no city more iconic in the world than New York City. But how does the economy of the incredibly densely packed and often struggling city survive now, and will this be the case for years to come? Learn more about your ad choices. Visit megaphone.fm/adchoices

What caused Detroit to lose 60% of it's population since 1950 and is there a way to help residents and industries in shrinking cities to have a better quality of life and work? Learn more about your ad choices. Visit megaphone.fm/adchoices

"Made in Germany" carries with ti a kind of prestige, and a marker of quality. Germany is famous for it's incredible engineering and manufacturing talent, but more and more this is becoming a thing of the past as overseas manufacturers start to build up their centres, and can produce on a scale that Germany just can't keep up with. Is this crisis going to end German manufacturing? Learn more about...

Africa is the poorest continent in the world. There are, as always, a lot of factors to consider as to why that is the case, but recently Daron Acemoglu and James A. Robinson from MIT have released a study detailing the surprising bigger factors in why Africa still struggles to build wealth despite massive amounts of incoming aid and charity work trying to improve the lives of people there. So wha...

We were lucky enough to talk with Prof. Asemoglu of MIT about why Africa lags economically despite so much aid and resources being pumped into the country each year. From the impact of institutions to the legacy of policies, we talked about the reasons behind the continent's challenges and the potential paths forward that might actually help improve living conditions in African nations within our...

Canada has gone through a lot in the last 10 years, and one of the biggest problems is the price of housing. Canadian cities are in such a small area of the country's landmass and housing construction has not kept up with the population, so housing prices have skyrocketed. Canada now finds itself in a bit of a population trap, where they can't afford to keep bringing in more people and put even mo...

What led to Lebanon's devastating economic crisis, causing a shrinking population and half of its GDP to vanish? Why did it collapse, and what are the implications for other developing nations facing similar challenges? Learn more about your ad choices. Visit megaphone.fm/adchoices

We've talked about some incredibly poor countries on this channel before, but perhaps nothing as bad as the small East African country of Eritrea. This country is a complete military dictatorship, and has been called the North Korea of Africa. There are no free markets. No trading partners. Their debt to GDP ratio runs very high for one reason only: their country is in a critical region of the wor...

Capitalism is the system that has helped the world become infinitely more wealthy than it has ever been in human history, but there are problems. A disregard for the drawbacks of production like waste, pollution and inequality are often cited by people who want capitalism to be replaced by social democracy, communism or even anarchy. But even communist countries like the USSR and China have reluct...

The Davos Summit of the World Economic Forum (WEF) draws a lot of attention every year. Started by German engineer Klaus Schwab, the WEF the stated mission to "engage business, political, academic and other leaders of society to shape global, regional and industry agendas.” It's no wonder there are a lot of conspiracy hypotheses about the real motivations of such an organisation. But despite their...

Apparently us guys think about the Roman Empire 5 times a day, but from an economic Perspective it's hard to see why. While they did build a lot of architectural monuments, their economy was actually rather pathetic by almost all metrics. Why was Rome, which had a large empire and notoriety throughout Europe for millennia after its demise, actually a very weak economy? Learn more about your ad cho...

France's problems arguably go back 200 years to their slow and steady approach to adopting industrialisation. While many other countries can learn from France's strong protection for workers' rights, at the moment this has made France a very uncompetitive country with some of the worst brain drain across the EU. Why work in France for lower wages when they can make so much more in the UK, Germany...

There is no more deadly area in the world than the DMZ between North and South Korea. Millions of mines, guns and surveillance prevent anyone from crossing. But if tensions were to somehow stop and North and South Korea reunite into one country, it would still be almost impossible to combine their economies. Why would we not be able to use the lessons learned by the reunification of East and West...

Japan's economy has been stagnant for 2 decades, and while some economists look at this as an outlier, it might be something that just happens to all advanced economies, and Japan just got there first. After suffering the "lost generation", can Japan come back and recover growth, or is their fate one we will all eventually reach? Learn more about your ad choices. Visit megaphone.fm/adchoices

Australia's biggest export is natural resources, and as we have talked about on the channel many times, this isn't always a great thing for an economy. Resources don't provide much value to the local economy, especially in Australia where mines are thousands of miles from residential centres, and they don't employ all that many people for the massive wealth they create. Australia lags far behind t...

While California is famous for its industries, Texas has so many incredible advantages and opportunities that it could one day overtake the biggest state economy in the US. What possible issues could affect the rapidly growing Texan economy, and what could its future look like? Learn more about your ad choices. Visit megaphone.fm/adchoices

LinkedIn Jobs helps you find the qualified candidates you want to talk to, faster. Post your job for free at ⁠⁠⁠⁠⁠https://www.linkedin.com/ee⁠⁠⁠⁠⁠. Terms and conditions apply. The EU represents the third largest economy globally, with a population of 447 million people and 20 member states. Its five largest countries are Germany, France, Italy, Spain, and Poland. However, the EU faces several sign...

LinkedIn Jobs helps you find the qualified candidates you want to talk to, faster. Post your job for free at ⁠⁠⁠⁠https://www.linkedin.com/ee⁠⁠⁠⁠. Terms and conditions apply. There's a reason we include confidence and stability on our National Leaderboard. It might not be an easily measurable economic metric, but it can have a massive effect on a national economy. If people don't have confidence th...

LinkedIn Jobs helps you find the qualified candidates you want to talk to, faster. Post your job for free at ⁠⁠⁠https://www.linkedin.com/ee⁠⁠⁠. Terms and conditions apply. The first video we did on this channel was about Norway, a country that has some of the wealthiest citizens in the world, as well as incredible economic management. They avoided the Dutch disease when they discovered offshore oi...

Check out our new YouTube Channel Context Matters: https://www.youtube.com/@context.matters The consequences of politicising economics can be deep and long lasting. We would all like to think that economists focus on data and remove the personal and political from their studies, but we are not naive enough to believe this is true. Politicians want to get elected, and economists want to bolster the...