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Economics Explained

Economics Explained

By Economics Explained

On Economics Explained, we take a look at interesting countries, policies, and decisions from the point of view of an economist. The world is an interesting place and we hope to uncover some of this intrigue in our short, informative podcasts.
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How to Invest In Chinese Stock Markets - And Why You Absolutely Should Not!

Economics ExplainedNov 22, 2020

00:00
14:15
Something Weird Is Happening In Japan

Something Weird Is Happening In Japan

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?

Jan 12, 202418:19
Australia Should Be Poor. Why Isn't It?

Australia Should Be Poor. Why Isn't It?

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 technological centres like the US, but somehow has a strong economy. How has it done this and what can we learn from a country that just digs holes and builds homes?

Jan 09, 202417:01
Texas Will Not Be The Next California

Texas Will Not Be The Next California

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?

Dec 30, 202311:03
Will The EU Fail?

Will The EU Fail?

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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 significant economic challenges, including the debt crisis, Brexit, and tensions with major energy suppliers. This video explores these challenges, as well as the potential impact of a non-unified Europe on the global economy and the likelihood of other nations following the UK's example and leaving the union.

Dec 28, 202316:43
The Economy of the UK Is In Serious Trouble

The Economy of the UK Is In Serious Trouble

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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 that a country is in good hands and will be managed well into the future, then they will stop investing there. So why is the UK having a crisis of confidence, and to what extent is London to blame for the two-tier society that the UK is becoming?

Dec 26, 202316:17
Did The “Perfect Economy” Just Get Better?

Did The “Perfect Economy” Just Get Better?

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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 oil, but now they have discovered the world's largest reserves of phosphates. Could this strategic resource cause issues, or will it make Norwegians even more wealthy than they already are?

Dec 23, 202324:45
Why Economists Should Avoid Politics

Why Economists Should Avoid Politics

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 their careers. So what can happen when the people who are supposed to be studying and looking after the economy ignore the data, or even worse, collect skewed and false data to support their opinions?

Dec 20, 202307:36
Something Terrible Is Happening in Italy

Something Terrible Is Happening in Italy

Italy is in trouble... but this doesn't seem to be a new thing. With mountainous protection from the north and great trade connections through the Mediterranean sea, Italy has been in an ideal geographic position that has benefitted the country economically for millennia. After a decade of stagnation, can Italy boom like it has in the past, or is this time different?

Dec 18, 202317:03
Can Corruption Be Good For The Economy?

Can Corruption Be Good For The Economy?

We all know that corruption is a bad thing. People in government or the public sector using their position to personally enrich themselves is a form of stealing, but in some situations this can actually help to grow an economy. But in what situations, and how long can corruption continue to grow an economy once it becomes more developed?

Dec 08, 202307:53
Bhutan: The Country That Doesn't Want To Be Rich

Bhutan: The Country That Doesn't Want To Be Rich

Most countries really want to bring in tourists for the big infusion of money into the local economy. But Bhutan makes it incredibly expensive to visit, and bans all visitors from climbing the parts of the Himalayan mountains that are within their borders. Why? Do they just want to protect their culture from tourists, with the hotels, photo spots and trouble that comes with them? And does make the people happier?

Dec 05, 202313:46
Economics Is The Deadliest Science

Economics Is The Deadliest Science

If unintended consequences aren't considered, there can be a real and deadly trade-off between economic benefit and human wellbeing. Making poor policy decisions that may seem like economic opportunities can and have lead to famines, economic collapse and people losing their livelihoods, homes and lives. This is why economics is so important, and poor economic decision making can literally be fatal for millions of people.

Dec 04, 202314:28
Is South Korea's Economic Bubble About to Burst?

Is South Korea's Economic Bubble About to Burst?

We're exploring South Korea's impressive economic transformation, from an agrarian backwater to a global powerhouse. Home to internationally recognized companies and cutting-edge industries, South Korea is a fascinating case study for economists worldwide. In this video, we'll examine the drivers of South Korea's potential growth in the next decade, the obstacles that could undermine its entire economic system, and why this is all so important for the rest of us outside South Korea for our own economies.

Nov 30, 202314:33
The Controversial 2023 Nobel Prize Explained (Gender Pay Gap)

The Controversial 2023 Nobel Prize Explained (Gender Pay Gap)

We've avoided talking about the gender pay gap for a long time because, frankly, it's an emotional topic. But this year's Nobel Prize in Economics (Sveriges Riksbank Prize) was awarded to Claudia Goldin for her work explaining the gender pay gap using historical data and taking the emotion out of the equation.

Nov 27, 202311:30
Why Argentina Is Doomed To Fail Over and Over Again

Why Argentina Is Doomed To Fail Over and Over Again

Argentina's prosperity used to rival the US, but now it is bouncing between economic highs and lows. In just decades, it's seen rapid growth and dire crashes five times. What keeps derailing this nation's economy, and can it break the cycle, and what can we learn from their unique economic situation?

Nov 23, 202315:16
China’s Crumbling Economic Story

China’s Crumbling Economic Story

Deng Xiaoping's reforms in the 80s transformed Shenzhen, a small town near Hong Kong, into an economic powerhouse. China's rapid growth lifted millions from poverty but did it grow too quickly to be sustainable? Now China faces deflation, and experts are worried that this could spell the end of the economic miracle.

Nov 20, 202315:31
Is Poland The New Economic Powerhouse of Europe?

Is Poland The New Economic Powerhouse of Europe?

Poland defies European economic trends by having one of the fastest-growing economies on the continent. While many European nations face stagnation, Poland shines, even outperforming its former Soviet counterparts, including resource-rich Russia. Despite historical challenges and its unique geopolitical situation, Poland's success offers insights for struggling economies worldwide, although it faces hurdles ahead.

Nov 08, 202318:11
The $6.5 Trillion Dollar Problem Nobody Notices

The $6.5 Trillion Dollar Problem Nobody Notices

There's a massive cost that every developed economy has to deal with that nobody talks about... Infrastructure maintenance. It sounds boring but all of those developments that governments love to talk up can end up costing a fortune to maintain. So what can we do about this and why is this such a problem?

Nov 01, 202315:08
Why Saudi Arabia Pours Billions into Sports (and it makes sense)

Why Saudi Arabia Pours Billions into Sports (and it makes sense)

Sometimes as economists we need to analyse complex decisions to understand what the outcomes might be. On the more baffling end of the scale we have Saudi Arabia spending billions on football, golf and Formula 1 stars who are mostly a little past their prime to come and play in the largely unknown Saudi leagues. Is this simply sports-washing (a PR stunt) or is there something more clever going on?

Oct 25, 202314:33
The Failing Economy of Niger | Economics Explained

The Failing Economy of Niger | Economics Explained

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Niger's coup has set a lot in motion. It's rich in uranium which has gotten France involved, and China's belt and road initiative was set to draw oil from Niger, which could help grow their desperately poor economy, and somehow Russia's Wagner group is involved. But with its suspended membership of ECOWAS, things are about to get much worse.

Oct 18, 202316:17
Skills Wars Are The New Trade Wars

Skills Wars Are The New Trade Wars

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Trade wars are costing the world trillions of dollars every year, but far less attention is paid to the movement and control of the movement of skills and labour. It is much easier than ever before to take an education and move to a country where workers can benefit personally, but at a certain cost to the country that trained them. Skills wars may be the new trade wars.

Oct 12, 202322:08
How Brunei Built The Laziest Economy In The World

How Brunei Built The Laziest Economy In The World

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Brunei is a welfare state, where the government basically pays for everything from national defence to schools, energy to heavily subsidised housing. But their oil reserves are running out and they aren't diversifying their export industry quickly enough to prepare for the day when they no longer have a free lunch.

Oct 11, 202313:05
Why Nations Fail

Why Nations Fail

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We wanted to highlight the paradox of global economic growth alongside isolated national crises. Why do certain economies like Lebanon, Sri Lanka, and Pakistan face collapse when the global economy is reaching unprecedented highs? We'll identify common factors behind these failures, and discuss potential solutions to safeguard other nations from similar fates.

Oct 06, 202315:51
Do We Need More Children, or Fewer Children?

Do We Need More Children, or Fewer Children?

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Economists can't seem to decide if we need more or fewer children? Does overpopulation drain Earth's resources too much or does an ageing population threaten economies? What challenges does either option present and can we solve this paradox?

Oct 04, 202314:50
Capitalism Doesn't Need Consumers Anymore

Capitalism Doesn't Need Consumers Anymore

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AI raises concerns for jobs and society. As machines surpass human abilities, a growing number of complex jobs are being outsourced to machine who can do better work for a lower cost. This prompts questions about how economic systems can adapt to most people having a net negative economic value."

Oct 02, 202312:52
Iran's Economy Could Be Huge, But They Don't Care

Iran's Economy Could Be Huge, But They Don't Care

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What has prevented Iran, teeming with natural resources and a young, educated population, from becoming a world-leading economy? How did it go from rapid growth to economic failure, and why is it still unable to fulfil it's potential?

Sep 29, 202315:56
Should We Be Worried About The BRICS?

Should We Be Worried About The BRICS?

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BRICS, an influential economic alliance of Brazil, Russia, India, China, and South Africa, is reshaping the global economy. Plans for increased trade and a common currency may challenge the West, leading to concerns about political and economic shifts globally.

Sep 27, 202316:07
There Will Never Be Another Singapore

There Will Never Be Another Singapore

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Singapore, once a poor nation, rose to the 33rd largest economy in 50 years, inspiring other countries globally. Yet, its unique journey, often misunderstood to be solely based on glamorous industries, is not easy to replicate, and many economists forget the draconian measures it took to build Singapore into the wealthy country it is today.

Sep 25, 202313:46
Why Top Investors Are Betting Against The USA

Why Top Investors Are Betting Against The USA

Michael Burry, the investor made famous when he shorted the US housing market before the crash of 2008, has recently bet against the US Bond market. Why would he do that and what relationship between the economy and the stock market made him think this would work?

Sep 19, 202313:50
Could An Economy On Mars Ever Be Viable?

Could An Economy On Mars Ever Be Viable?

With billionaires like Elon Musk and Jeff Bezos setting their sights on space exploration and development, there must be some commercially viable industries in space and on Mars, right? Well, it's a little more complicated than just mining the asteroids that contain trillions of dollars of value, or building heavy things in micro-gravity, and certainly a base on Mars might cost more than it's worth. Making Mars a viable economy might not even be possible.

Sep 13, 202317:43
The Game Theory Of Military Spending

The Game Theory Of Military Spending

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Is $2.2 trillion per year wasted on the military, or is this massive spending necessary to defend the freedoms we enjoy? In this video we explain why military spending may be a necessary evil using the prisoner's dilemma and reframing some narratives about military spending you may have heard.

Sep 08, 202313:34
Should The US Default On Its Debt To Save Its Economy?

Should The US Default On Its Debt To Save Its Economy?

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It might sound absurd, but some economists are talking about the possibility of the US defaulting on its debts, closing off to global trade and using its own domestic industries and energy production to save its economy, which currently is tipping further and further into unsustainable national debt (Fitch just downgraded the US credit rating from AAA to AA+).

Sep 07, 202314:32
When Economic Policies Go Wrong | Economics Explained

When Economic Policies Go Wrong | Economics Explained

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Unfortunately for theoretical economists, we are not allowed to run economics experiments on the whole of society to see definitively whether or not certain economic policies or systems work in practice. Millions of lives hang in the balance, so this is an ethical non-starter. But we can study countries that have experimented with socialism, communism, and laissez faire capitalism to see what the outcomes are. And the experiments have been done.

Sep 05, 202319:18
Something Weird is Happening in California

Something Weird is Happening in California

California, the US's third largest state, ranks as the world's 4th or 5th economy all by itself. With an output over $3.5 trillion, Californians are among the globe's top producers. But despite its growth, the state faces challenges: global pressures, population decline, and social problems.

Sep 01, 202317:12
Global Inequality - Interview with Francisco Ferreira (London School of Economics)

Global Inequality - Interview with Francisco Ferreira (London School of Economics)

Global inequality is one of the biggest economic issues facing the world today. Global wealth is now thousands of times what it has been for the vast majority of human history, and yet a lot of that wealth is being hoarded by a smaller and smaller group of people. We were lucky enough to speak to Francisco Ferreira from the London School of Economics, an expert on global inequality and its impacts on developing countries, which have the potential to be the economic powerhouses of the future.

Aug 10, 202357:16
Indonesia: The Fastest Growing Major Economy In The World

Indonesia: The Fastest Growing Major Economy In The World

Indonesia's economy has been growing rapidly, and thanks to a younger population it could be on track to become one of the biggest economies in the world. There are a few things holding Indonesia back, such as Jakarta sinking into the ocean, but with their natural resource wealth and access to the world's oceans, it could become a huge player in making the goods we all use every day.

Aug 08, 202315:10
Mexico, The Economic Miracle That Never Happened

Mexico, The Economic Miracle That Never Happened

Despite Mexico's strategic advantages and booming manufacturing sector due to global trade shifts, they haven't taken opportunities to replace China as a major manufacturer for the US. What factors stifle Mexico's growth and are there drawbacks to its proximity to the US?

Aug 02, 202315:53
Taiwan is More Than Microchips and Tensions With China

Taiwan is More Than Microchips and Tensions With China

When people think of Taiwan, they mostly think of tensions with China and the fact that Taiwan is a major manufacturing centre for the world's semiconductors. But Taiwan's leaders actually made some big bets decades ago that are paying off now, with a GDP per capita roughly 3 times that of mainland China.

Jul 26, 202313:44
Why Inequality Starts Becoming A Problem Now

Why Inequality Starts Becoming A Problem Now

The global wealth disparity has been greatly exacerbated by the pandemic, and there is a concentration of wealth among the top 1.2% of people. We explore factors causing inequality, the role of debt, and finding an optimal level of inequality (because you do need some).

Jul 20, 202313:30
Global Wealth and Global Debt - Interview with Jason Furman (Harvard University)

Global Wealth and Global Debt - Interview with Jason Furman (Harvard University)

Global debt has now topped $300 trillion USD, or three times total global economic output.

This is a number that is going to have very real consequences for billions of people around the world, but as scary as the number sounds there is still reason to be optimistic and there are still reasons why most economists handling this issue are not too worried just yet.

To help us understand this issue in the course of our research we were lucky enough to speak to Dr. Jason Furman an economics professor at Harvard University and a former economic policy director for the Obama Administration.

His understanding of an issue as large as global debt is truly valuable not only because of his impressive academic background but also because he is one of only a handful of people in the world that has ever had their hands on the proverbial controls of economic policy at this scale. 

Jul 14, 202339:02
What Everyone Gets Wrong About Global Debt | Economics Explained

What Everyone Gets Wrong About Global Debt | Economics Explained

Is the global debt of over $300 trillion really a problem? And does debt for the global economy work in a different way from debt on an individual level? In this video we'll explain who holds all the debt that countries and businesses owe, and whether this will be a big problem in the near future.

Jul 09, 202316:41
Are We Overeducated? Economics Explained Interview with Prof. Billari (Bocconi University)

Are We Overeducated? Economics Explained Interview with Prof. Billari (Bocconi University)

This is a fantastic interview with Prof. Billari (Bocconi University) about education. A better educated economy is usually better, all things being equal, but issues like student debt, skills misalignment, migration and brain drain can put a lot of pressure on an economy.

Jul 04, 202344:32
Why More Education Is Not Always Better For The Economy

Why More Education Is Not Always Better For The Economy

Education is rightly seen as one of the best ways to develop a country’s economy, as more productive workers can create better living standards for everyone. But is there a limit to the benefits of education and should countries be wary of this double-edged sword?

Jul 02, 202314:55
Why Is Europe's Economy Always Lagging Behind The United States?

Why Is Europe's Economy Always Lagging Behind The United States?

The US has had a much greater level of growth than the EU in the past decade despite the pandemic and Europe having a large collection of advanced economies with highly educated populations. Why is Europe always lagging behind?

Jun 27, 202315:40
The World's Smallest National Economy Will Soon Disappear

The World's Smallest National Economy Will Soon Disappear

Tuvalu is a tiny island nation confronting existential threats. Rising sea levels jeopardize its sparse population and limited economy. As the nation becomes inhabitable, this video will explore what the economy of Tuvalu is reliant upon, and the measures to save it.

Jun 20, 202311:30
The Pathetic Economy Of North Korea

The Pathetic Economy Of North Korea

North Korea, the most closed-off country on earth. This Asian nation is often the center of intense scrutiny for its aggressive displays of militarism, its internationally condemned nuclear program, and of course its oppressive government dictatorship. A 2014 report by the united nations concluded that the gravity, scale, and nature of these human rights violations does not have any parallel In the contemporary world. What they are ashamed of though, is something that all these media spectacles help to distract from and that is their incredibly small and pathetic economy. Beyond the dramatic chest-beating and despite all of the opportunities this country has been given it has dwindled into complete economic obscurity and in this video we are going to explore why.

Jun 15, 202311:57
The Bitter Economics of MLM

The Bitter Economics of MLM

Multi-Level-Marketing (MLM) companies are big businesses around the world and they have rightfully attracted much criticism for questionable business practice. Many have called them illegal pyramid schemes, but today these companies continue to operate in most developed countries around the world and rake in billions of dollars in profit in any given year all with the blessing of local trade authorities. So, what are these businesses? Let's park personal opinions on how annoying it is to be roped into one of these MLM meetings for the moment and assess the fundamental economics behind this business model.

Jun 07, 202312:27
Japan: The Fading Economy

Japan: The Fading Economy

Japan became the first of the modern Asian countries to experience massive sustained economic growth. Japan had a lot going for it after the end of the war, it was able to rebuild with the help of the allies and go through its own modern industrial revolution. In the 1960s, Japan was growing at a rate of 10% a year which for a national economy was unheard of at the time, this economic growth continued and japan was able to ride the wave of globalization as the world's low-cost manufacturer. Japan developed a huge car industry, it was at the forefront of consumer electronics and was working meticulously to make sure that this newfound wealth was being invested wisely into infrastructure like high-speed rail, airports and metro systems that would make their economy even more efficient. At its peak, there was so much wealth in japan that the real estate market of Tokyo had some pretty crazy anomalies. In the late 80’s it was estimated that the imperial palace covering an area of 3.4 square kilometers in central Tokyo had a real estate land value greater than all of the real estate in California. Of course, the imperial palace was never for sale and this was based on the cost per square feet in the area but it still should give a good idea of just how much money was washing around in Japan. In this video, we will look at how this all went so wrong and what it can tell us about countries that are today where japan was 40 years ago.

May 31, 202311:10
How This Man Profited $1 Billion Betting on Hong Kong Horse Races

How This Man Profited $1 Billion Betting on Hong Kong Horse Races

Bill Benter, is a reserved unassuming and media-shy Pittsburg resident who made almost 1 billion dollars by gambling on horse races. The man was a mathematical genius who was on the cutting edge of both computer science and statistical modeling so it is widely assumed with his business knowledge that he could have made money just about anywhere, in a rare interview when asked about his success in horse racing he said: “I was driven only partly by money, I believe I probably could have made more money in finance, but that didn’t interest me, I didn’t get into professional horse racing because it was hard, but because it was said to be impossible”

May 24, 202323:44
The Economics of Poverty

The Economics of Poverty

The Democratic Republic of the Congo is the world's poorest country, with a large majority of its 70 million citizens living in absolute poverty. For a long time, poverty in Africa has been seen as a purely humanitarian issue. But could the answer just be good economic management? Unfortunately, this situation has an obvious solution that is impossible to attain. Poverty is a thorny issue to deal with. Still, in this video, we'll attempt to explore some of the fundamental causes of this poverty and see how they impact the Congo's fragile economy.

May 18, 202310:21
India: The Next Economic Superpower

India: The Next Economic Superpower

India is soon to be home to the largest population of citizens on the planet. And as of 2014, the nation will also hold the title of the fastest-growing major economy in the world (stealing the title from the slower-growing economy of China). This country has had an amazing journey to get to where it is today. And with the right political governance, it's very likely to become one of the world's most powerful economies very soon. But, it's not quite there yet. And in GDP terms, India's collective economy is still smaller than that of California. And while poverty is a very prevalent problem, India's certainly on the up and up. Throughout the past two decades, it has seen unbelievable levels of growth that has, among other things, pulled hundreds of millions of its citizens out of poverty

May 11, 202314:49