All is Money: Recent Episodes
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Is University Worth it Anymore My HONEST advice on the state of Universities in 2022
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The Rise of Fake Gurus - The Dark Truth Behind Making MILLIONS from Online Courses
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The INSANE Story of Instagram _ How Kevin Systrom & Mike Krieger Built A BILLION DOLLAR Company
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How to Profit from a Recession - A Guide to Investing During an Economic Collapse
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Data Brokers - The Dark Industry of Selling Your Identity for Profit
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The Toxic World of Self Help - Hustle Culture, Toxic Positivity, Addiction, and Fake Gurus
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The Untold Truth About Money - How to Build Wealth From Nothing
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The Rebranding of Tyler1 - Rage, Redemption, and Reformation
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The Multilevel Marketing Cults - Lies, Pyramid Schemes, and the Pursuit of Financial Freedom
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Escaping the Rat Race - What School Failed to Teach You About Money
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How United Breweries battle the uncertainties involved in selling beer and continues to be the undisputed market leader?
How Ajay Bijli set out on an unreasonable pursuit to create the largest multiplex chain in India and in the process redefine the standards for a cinematic experience
This story chronicles the fascinating journey of Page Industries as they build brand Jockey and create the most recognizable underwear in Modern India
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Jet airways is stumbling along barely staying afloat. The debtors are circling and the investors restless. Will the company survive another year ?
Here's another thriller from China. We don't want to give away too much right now, but know that Chinese stocks are on a spectacular rally and you won't believe why it's happening.
An explainer on currency pegs and how the US is now threatening Hong Kong to undermine its peg with the US Dollar
An explainer on unemployment and how different countries are fighting this economic malady.
The second half of a 2 part series that simplifies what's causing the economic slowdown. In this part we try and piece together the events leading up to the current day crisis
The first half of a 2 part series that simplifies what's causing the economic slowdown in this country and how we got here in the first place. The second half of the story will be coming soon....
Our world is home to over 190 countries using 180 currencies to trade, invest, and collect taxes. The global economy is complex at the best of times and the foreign exchange, or forex market only looks to add an additional layer of confusion and complexity.
So this begs the question could the world adopt a single universal currency?
This is Adam Smith. Adam Smith was a Scottish philosopher and author who is probably best known for writing a book titled “An Inquiry Into the Nature and Causes of … The Wealth of Nations!”
This book effectively marked the beginning of economics as an academic discipline as Adam Amith, (now heralded as the father of economics) laid the foundation for economic rules and principles that guide decision making the world over.
There are all manner of factors that make poor countries poor and rich countries rich. Many of these factors we have explored in depth when we have looked at economies like the democratic republic of the Congo all the way up to places like Switzerland and Norway.
Political Stability, industry, natural resource wealth are all incredibly important variables but there is something extra here that just doesn’t seem to make sense.
In two short decades, Amazon has grown from a modest online bookstore to an international conglomerate. A conglomerate that seems hellbent on moving into every growing industry out there.
Amazon will only be the second company this channel has ever explored but it is extremely important to understand for a few reasons. most curiously, why amazon is pushing for reform in key areas that wouldn't really be expected...
The 2008 Global Financial crisis was kicked off by major structural issues in the global banking system and exacerbated by record levels of household debt.
Today the world is on the brink of yet another major financial downturn, and yet again household debts are at record levels.
So is banking really to blame?
Australia is a major world economy, with highly developed industries and close to 25 million of the wealthiest citizens in the world.
But Australia is harboring a deep, dark secret ... it is an American company!
Game Theory is supposed to show how businesses (and prisoners) can outdo each other to win out over their competition. While this is great in theory Game Theory actually shows us much more about how to get along with our partners, friends, and allies.
Hong Kong has done very well for itself as a global-middle-man. And the meteoric rise of its neighboring economy, China, has only strengthened the city’s already-prosperous position.
But, of course, if you follow the news, you probably already know that Hong Kong has seen better days. Global trade tensions, prolonged protests, and good-old-fashioned competition have dramatically impacted its economy in recent years.
Taxes are an unfortunate reality for most people living and working in the modern world, we pay them every year, we complain about them, and then we forget them until next year.
Taxes are one of the most important elements of any economy around the world. Entire societies can grow from effective taxation and crumble without it.
France is a global trendsetter for other economies.
This goes from the rollout of the metric system to more tangible short term indicators. If you want to predict the future, look to France.
This is not to say that the country is any further ahead than any other developed nation. In fact, in many ways, it is quite the opposite, but the industries they choose to engage in making them a great indicator for global economic performance.
In 2017, at Christie’s Auction House in New York, a mysterious #Art buyer bid a record-breaking $450 million dollars for the #SalvatorMundi; a painting by the legendary Leonardo da Vinci.
News of the staggering purchase price sent shockwaves throughout the entire art market (which, interestingly, has been a reliable indicator of impending market bubbles for decades).
What drives the high-end #ArtMarket? How can art be used to move money in creative ways and get around taxes? And perhaps above all, why would anyone park so much money in a picture when there are other asset classes that actually generate cash, like real estate rentals or dividend-paying stocks? … all this and more in today’s episode!
This is Liechtenstein just the cutest little European nation, the nation is tiny but weirdly enough it is actually only the fourth smallest country in Europe, behind Vatican City, Monaco, and San Marino.
What it lacks in square footage though it more than makes up for in economic might. You see this country is home to the second richest people in the world with a GDP per capita of $165,000 which is second only to Monaco, and the country is, at least officially home to some truly wealthy old moneyed elite.
Brazil is currently the 9th largest economy in the world, according to the International Monetary Fund.
This means that if the nation does make the jump from developing to developed, it could rival economic superpowers like Germany, Japan, or the United Kingdom.
And as crazy as it may sound, it may become an economy that rivals the USA or China.
So hedge fund is a term that has really lost a lot of meaning in recent years. These days it basically just means a managed financial institution that facilitates complex investment strategies that cater exclusively to high net worth individuals. But that wasn’t always the case. You see hedge funds actually have a really specific role in the world of high finance and in this video we are going to find out what makes them work.
Most people would agree that recessions are terrible things, they cause widespread fear amongst people that will be anxious about their savings, their livelihood, or even their next meal.
On a nationwide level, economic downturns are events akin to natural disasters, they do massive damage and for the most part are widely accepted by society as an “inevitability”, rather than a “rarity” …
But do we really need recessions?
China's Belt and Road initiative is set to be the most influential economic development project in recent history. It’ll be an investment measured in trillions, connecting dozens of nations with roads, rail lines, shipping routes, and most important of all: trade deals.
But for all of the impressive figures, there’s an equally concerning list of problems centered around the nation that looks to be the ringmaster of this whole project.
Inarguably, it's pretty bad right now.
Businesses are closing, unemployment is rising, and people are scared for their health.
Fortunately, governments are coming to the rescue with a swath of economic bailouts, stimulus checks, and hardship support.
And since we're living through an event that will shape economic policy for generations to come, it's an ideal time to explore what economic responses we want to replicate in the future, as well as which government policies have completely fumbled the economic response of 2020.
By doing this, we should be able to analyze the efficiency of government spending for the purposes of creating a strong economy.
Say you find yourself sitting on top of a vast fortune of funds that were acquired legitimately (or otherwise), and let's just say this vast fortune propels you to billionaire status. Congratulations! You've made it! ... well, sort of. All that’s left to do now is make sure your fortune is secure for generations to come (and not lost as quickly as it was made).
But before you can enjoy the high life, you are going to need to first check-off a few things. Luckily you are in the right place. So, take out your notepad and pen, this is the first video in a two-part series on how to become the master of your finances.
A home is in most developed nations in the world the centrepiece of the family finances, it is simultaneously the largest investment and largest expense of almost any individual lucky enough to break it to this increasingly unattainable market with a massive mortgage.
But is this all for the best? Have houses been conflated with poker chips, as people no longer look at them as shelter for a growing family but rather as an asset to make wild speculative moves on in the hope of equally wild returns.
The property market was at the centre of the last financial downturn in 2008, and as it seems we are on the precipice of another major recession it is probably a prudent time to re-evaluate what is going on with the world of real estate.
To do this we are really going to have to look at things on a few level’s from the macroeconomic factors like over-development and over-leveraging to issues on an economy-wide level which is ultimately going to boil down to answering a few key questions: What does a strong property market mean for the wider economy? Are their better investments out there? And are we over-leveraged right now?
Inarguably, it's pretty bad right now.
Businesses are closing, unemployment is rising, and people are scared for their health.
Fortunately, governments are coming to the rescue with a swath of economic bailouts, stimulus checks, and hardship support.
And since we're living through an event that will shape economic policy for generations to come, it's an ideal time to explore what economic responses we want to replicate in the future, as well as which government policies have completely fumbled the economic response of 2020.
By doing this, we should be able to analyze the efficiency of government spending for the purposes of creating a strong economy.
Say you find yourself sitting on top of a vast fortune of funds that were acquired legitimately (or otherwise), and let's just say this vast fortune propels you to billionaire status. Congratulations! You've made it! ... well, sort of. All that’s left to do now is make sure your fortune is secure for generations to come (and not lost as quickly as it was made).
But before you can enjoy the high life, you are going to need to first check-off a few things. Luckily you are in the right place. So, take out your notepad and pen, this is the first video in a two-part series on how to become the master of your finances.
A home is in most developed nations in the world the centrepiece of the family finances, it is simultaneously the largest investment and largest expense of almost any individual lucky enough to break it to this increasingly unattainable market with a massive mortgage.
But is this all for the best? Have houses been conflated with poker chips, as people no longer look at them as shelter for a growing family but rather as an asset to make wild speculative moves on in the hope of equally wild returns.
The property market was at the centre of the last financial downturn in 2008, and as it seems we are on the precipice of another major recession it is probably a prudent time to re-evaluate what is going on with the world of real estate.
To do this we are really going to have to look at things on a few level’s from the macroeconomic factors like over-development and over-leveraging to issues on an economy-wide level which is ultimately going to boil down to answering a few key questions: What does a strong property market mean for the wider economy? Are their better investments out there? And are we over-leveraged right now?
The wild ride of 2020 continued this week with the news that the leader of North Korea, Kim Jong Un was in a critical condition and that his continued leadership of the nation was not necessarily guaranteed.
This has, of course, generated all manner of speculation given how secretive the hermit kingdom is at the best of times but even more so now as its future really is up in the air.
So, with that, there are a few key issues we must explore here. What will the potential economic outcomes of leadership change be why is it that a dictatorship inherently makes for a poor economy? What the potential outcomes will be for North Korea will be in the future. How countries have dealt with this type of situation in the past. And perhaps initially what is it that would stand in the way of a country like North Korea embracing a modern economic system, what keeps them poor.
Earlier this week we've started seeing articles noting that oil prices have now gone into the negatives (meaning investors are paying to give away their oil).
What is going on here? How does this make sense?
As always with these weird and wonderful things, it's all basic economics. And to properly understand this, we're going to need to look at 3 things: Negative value items, the 2020 oil market, and how oil is actually sold!
Ancient Rome was perhaps the most significant ancient civilization to have existed throughout history, the empire lived for over 1000 years and in that time, it gave us the foundations for our modern society. Democracy, a court-based legal system, Latin languages and alphabet, three-course meals, and perhaps it was one of the first modern economies to move beyond a simple agrarian empire and develop things like modern banking, lending, taxation and yes even financial crisis as we know them today.
In the same way that scholars study a dead language like Latin to discerned the foundation of meaning in our modern dialects economists can study the histories of ancient civilizations like Rome to determine basic economic functions in a time before modern financial systems could skew results and Rome was perhaps the most developed case study we could look at.
Is there such a thing as "good debt"? And how could something good cause so many issues? On top of this is there any way that we could just run an economy without debt and would we be better off for doing so. Well, it turns out we probably can, and in fact, there are many economies around the world today that are developing rapidly while going without this system that we just assume is a given.
If we can critically explore these questions it will offer insight into how our modern financial system works, and why it means that despite our best efforts we are almost destined to go into a recession once every 10 years or so.
This is China, what is still the world's foremost industrial economy has apparently been knocked down a peg as it emerged into the new decade.
There has been wild speculation about companies divesting from the country as a response to the critical flaws in supply chains that have been brought to light. The world today is heavily reliant on China to manufacture almost everything we take for granted in our modern lives.
Report’s of companies desperately looking for supply chain alternatives and speculation about countries that are going to move in to take their place have been all over the news, and perhaps there is some merit to this speculation, but a lot of this may be un-grounded in genuine economics and rather just be the product of things people want to be true.
It looks like this external shock will snowball on top of some underlying faults in the economy to cause an economic crisis that eclipses the 2000’s tech bible and the subprime mortgage crisis of 2008.
Most people of note from policymakers to money managers agree that this is pretty bad and it only looks like it is getting worse ... so why is it then, that amidst all of this chaos and uncertainty the stock market is on the rise again?
Economic growth is something that is important to every global citizen today.
But it's not something to necessarily take for granted – we are certainly not "owed" long-term growth. We must earn it. And above all, we must continue innovating to become more efficient.
Simultaneously, society must collectively address the major issues that we're inevitably set to face within this century if we wish to ensure that future generations live better than their predecessors.
Modern Monetary Theory is something so simple yet so complex all at the same time, it does really involve divorcing your mind from how you personally interact with money to ultimately grasp how cash works at an economy-wide level.
A lot of supporters of the theory push it as a cure-all to any economic ailments, and you know what with the money printers firing away like they are right now we may finally get a chance to find out if they are correct, but in reality, it’s not a prescription to fix a broken economy as much as it is an insight into how modern economies work.
Cuba. This picturesque nation between the gulf of Mexico and the Caribbean is home to possibly the most bizarre economy in the world. #Cuba #Economics #Cubanomics
In 1929, years of wild debt-fuelled speculation over company stocks came to a halt with the worst economic disaster in history. In 2001, years of wild debt-fuelled speculation over technology companies that were apparently going to revolutionize the future came to a halt when most were shown to be worthless.
And, in 2008, years of debt-fuelled speculation from borrowers that just needed that 5th investment properties and the bankers that were more than willing to accommodate this to sell some more mortgage bonds, came to a grinding halt when people realized that everything propping up this speculation was based on absolute garbage.
As of making this episode, we have just lived through the fastest 30% market decline in US history – outpacing all of the examples listed above. And it's easy to think "this time is different".
But it is not...
Let's say you find yourself as the Head of State of some country during an impending economic crash.
Your country's stock market is imploding, businesses are closing, unemployment is rising, and everyone is looking to you to provide economic guidance on how to weather this turmoil.
Here's how you can weather the storm and come out on top!
Let's say you find yourself as the Head of State of some country during an impending economic crash.
Your country's stock market is imploding, businesses are closing, unemployment is rising, and everyone is looking to you to provide economic guidance on how to weather this turmoil.
Here's how you can weather the storm and come out on top!
Once the seat of the Roman Empire, Italy is now home to a surprisingly robust yet temperamental economy.
The economy of Italy followed a path very similar to that of Germany's, albeit, with a little more flamboyancy which has found them where they are today.
Space exploration has long been the dream of science fiction authors and enthusiasts well before we even had the technology to explore life beyond our own planet.
Today, astronauts live year-round in low-earth orbit aboard the ISS (International Space Station). We have put men on the moon, and we have companies that are said to be commercializing space. But, all of this begs the question: what will space exploration actually do for humanity?
Despite its many critics, Mexico has some surprisingly strong economic characteristics. A great export market, a thriving manufacturing industry, natural resources, a young and productive workforce, and even things like geography are all on its side.
But the nation still has critics. And some of that criticism isn’t entirely unfair, as things like crime is still an issue. And as strong as Mexico’s legitimate economy and export market is, we still all know deep down the other export market that Mexico is home to.
South Korea, a highly-developed and wealthy economy that epitomizes the story of a modern Asian nation, has made the transition from a very poor to very rich in less than one life's generation.
Today, the nation is a glistening beacon of technological innovation that leads the world in highly productive and profitable industries.
In this episode, we'll explore how South Korea proves how solid economic management is far more important than natural resources in determining a country's destiny.
Trillion-dollar mega corporations are a very big deal these days. Only about 2 or 3 exist in the modern world and they're primarily tech companies that have achieved this status by capitalizing on cutting edge modern technology (and probably a bit of optimistic speculation). But there is one corporation that has snaked its way through history and may have very well been the largest corporation in history.
This was a company that laid the foundations for modern multinationals and created systems, procedures, and expectations that we take for granted today.
This is Greece, a fantastic European Mediterranian nation that has been famed in recent years for its not so fantastic economy.
Greece in the 21st century looks like many other middle-of-the-road developed economies, it has had and still does have a lot of things going for it, it has a huge tourism industry, one of the largest per capita in the world, and its exotic islands and ancient landmarks still attract millions every year bringing with them all those wonderful tourist dollars. In this video, we explore how a once healthy nation got everything so wrong.
This is the United States of America today: The largest most powerful economy to ever exist in history. In previous episodes, we have explored how the economy of the USA has developed from a British colony into an industrial powerhouse that rose to the position of power that it occupies today.
Which brings us to America in the 21st century. When a lot of people think of powerful economies they'll imagine huge factories, shipping ports, plentiful farmland, and powerful investment banks. But, in reality, what keeps the world spinning is simply debt and demand.
The Philippines, a beautiful tropical archipelago of islands that forms one of the most important economies in the world today. This nation often flies under the radar as a quiet achiever but it is both interesting and important to understand because it may be the quintessential 21st-century growth nation, and that is not to say it is some super modern nation from the future, but rather it is to say that the story of the success and failures of the Philippines is by extension the story of the world today as more and more countries, modernize, embrace technology, trade internationally and bring their citizens into the global middle class.
China has come along way.
As of the time of this writing, the communist country is the second-largest economy in the world and looks poised to reclaim its title as the world's largest economy within the next century.
So without further ado, let's explore modern-day china and see how it has transformed from a half-crippled state into the economic superpower we know today.
Jeff Bezos and Bill Gates, two gentlemen fighting back and forth for the title of world richest man. These two individuals seem very very similar, for starters, of course, they are both billionaires, an elite worldwide club with around 2 and a half thousand members, they are both white, male tech entrepreneurs, from the united states, and even more specifically from Seattle, and even more specifically their primary residence is in Medina a same small town just outside of Seattle. So it looks like these two are pretty similar, but in reality, their fortunes couldn’t be more different.
The Wuhan Coronavirus, the active impeachment of a sitting US president, an earthquake and volcanic eruption in the Philippines, floods in Indonesia, the death of Kobe Bryant, magnitude 7.7 earthquakes in the Caribbean and even my homeland down under has been on fire and then buried in ice and then on fire again so yeah the first month of 2020 is really trying its best to kill us all I guess what we are here for is to explore what all of these things mean to an economy both at a local and global level.
Entropia Universe, a massively multiplayer online game set in a science fiction universe full of spaceships and fantastic curiosities. It is a game where players can choose from a wide variety of professions to occupy themselves with which in turn builds a diverse and functioning economy.
Entropia universe is worth discussing because of one very small aspect that makes a very big difference. The currency in the Entropia universe can be traded back and forth for real-world money, meaning it is effectively a video game that you play using real-world currency. And it was also an entirely exchangeable digital currency that existed 7 whole years before bitcoin came onto the scene.
The Soviet Union is one of the most historically significant economies to understand, not only because it was the home to some of the most controversial economic practices ever, not only because it was a nation that altered world politics for the latter half of the entire twentieth century, or because it was home to one of the largest and most rapid economic declines in modern history, no no, all of that stuff is important and we will explore it, but more important than all of that is that even today, almost 30 years after the fall of the soviet union, the lessons of the nation and its economy are having lasting implications on the world today.
South Africa is an economy that is really important to understand as a kind of potential outcome case study of inequality gone bad. The nation itself, on paper at least is not so terrible, it is actually one of if not the wealthiest nation in all of Africa, trading back and forth quite frequently with Nigeria.
This is Iran, a highly controversial nation that has of course made headlines in recent months for hostilities back and forth between the united states. Hostility towards the united states is really nothing new in and of itself but these particular hostilities have gained so much attention in part because Iran is a very very powerful military nation in its own right. Now a lot of that power comes down to its economy which gives it the ability to be a force that people actually fear to engage with.
Even outside of hostilities and fear-mongering the economy of Iran is a really interesting case study because it is one of the largest modern economies that draws policy not only from economic and political theory but also directly from the teachings of Islam, which gives it some really interesting characteristics.
Sweden is a beautiful Scandinavian country famed for its beautiful people, flat-packed furniture, PewDiePie and meatballs. Now of course if you hadn’t guessed by the channels title we are only here to look Sweden's economy, and it is a remarkable one at that. Sweden is home to one of the highest standards of living in the world and is often held in extremely high regard when it comes to workers rights and general quality of life indicators such as working hours, happiness rates and life expectancy. It is also a nation with a rich history of setting the trend for other economies to follow, Sweden is home to the Riksbank founded in 1668 it is the oldest central bank in the world, blazing the path for monetary policy that dictates every major economy in the world today.
So how did it get here. We have explored rich nations with strong welfare systems that seem to do everything right on the channel before… most notably Norway, Sweden's little brother the to west… But Sweden is slightly different in the sense that it was not blessed with the Norwegian sea and its abundance of oil and gas, so it was not able to build up a sovereign wealth fund with oil profits like Norway was and so on paper it is citizens are poorer than Norway's but their quality of life seems exactly the same.
China was once the wealthiest in the world and now it was struggling to feed itself, it was these kinds of conditions that gave rise to the political system that would go on to define china in the latter half of the twentieth century.
The nation boasted this wealth for a majority of the last millennia only ever trading places with India, another nation that flies under the radar in recorded history. It even achieved and maintained a level of wealth beyond the typical colonial powers like England, France, and the Netherlands that we typically associate with world domination in this period and it did it through good old fashioned grunt.
In this episode, we'll explore how it all went wrong in the 20th century.
This is Germany, the largest economy in all of Europe by a significant margin and the fourth largest in the world falling just behind Japan. The economy of Germany is so interesting not just because of its size though but more because it’s a tenuous and surprisingly short history.
Germany is a hugely influential economy in the world today and even more so amongst other European economies, it has been a stabilizing force in the euro-zone and its prosperity has overflowed into regions that have been less stable.
A long time ago, in a galaxy far far away. The star wars universe centered in this galaxy has of course been the center of many stories filled with action intrigue and mindless cash grabs for toy licensing, but it is also home to an amazingly developed economy.
No fictional universe that I know of has the level of depth that the star wars universe has garnered, from the movies, the games, the books, and even the fan fiction it has all built a surprisingly tangible reality in this fictional universe.
A large part of that reality is the surprisingly realistic economy that has been fleshed out in the narrative of the star wars universe. The economics of galactic trade and military spending is a long way from the center of the stories but it is still a foundation that whether intended or not gives an added layer of realism to a science-fiction franchise about space wizards.
It's hard to imagine a better time to reflect! For this episode, we'll refer to the mistakes that were made in the conveyance of information discussed on this podcast in the videos we produce for our audience.
... Enjoy as we reflect!
The Christmas Crash of 2018 was a really important case study that up until now has been pretty much forgotten and even when it was happening probably didn’t get the attention it should.
What was the Christmas crash? What caused it? And why did everything pretty much go straight back to normal immediately after the new year?
This is the arctic: home to a small specialized economic zone that doesn’t technically belong to any established nation on earth.
The North Pole is an interesting economic case study, primarily because of its surprisingly incredible economy! ... So put on your jacket and stay warm for today's episode as we explore the economy of The North Pole!
This is China: the second-largest economy in the world, home to the largest population in the world, and the most aggressive economic expansion in modern history.
Most people watching this episode now would have seen China go from a collection of mostly peasant farmers into the economic powerhouse it is today within their lifetimes.
The economic development of China has amongst other things also contributed heavily to the massive drop in absolute global poverty we have seen today.
The economy of the United Kingdom is really a tale of two cities, it was the best of times and it was the worst of times, it is an economy with the highest levels of foreign investment per capita in the world and it is an economy with a major poverty crisis. It's an economy that's home to the second-largest financial center in the world and yet its entire economy is smaller than that of California.
In this episode, let's explore why these financial institutions decide to call London home.
This is Russia: the largest country on the planet by pure landmass. The country is the center of many controversies that have today made it a bit of a boogeyman in the international community.
It is enormous military power with the largest nuclear arsenal in the world even beating out the United States which comes as a hangover from when the nation was the centerpiece of the Soviet Union.
But we are not here to look at Russian military assets or speculate about the wild conspiracies that Vladimir Putin is inevitably plotting in the Kremlin as we speak. We are not even here to look at the Soviet Union that one deserves an episode all its own, no we are here to explore modern-day Russia, which is an economy that really is just not that impressive.
Russia is hugely powerful by virtue of its military and political influence but its economy is really nothing to be proud of. Its current GDP of around 1.7 trillion USD is certainly nothing to be ignored, it puts it in line with countries like Canada or Brazil but it does not put it in line with the world powers like China or the USA which is normally compared too.
The United States became the world's largest economy in the early 20th century and though massive industrial growth and technical innovation it has held that lead for over 100 years.
The world superpowers that came before it was most notably colonial empires, with the France Britain and the Netherlands all extracting a vast majority of their wealth from foreign colonies that they used to mine natural resources or grow tea and spices to bring back home.
Incidentally, the United States was once one of these colonies, but it had a bit of a rebellious streak and claimed independence to go an to become a majorly powerful nation in its own right.
The nation was born with the memories of empire and what it meant to be a colony, so it ultimately walked a different path to prosperity. In this episode, part two of a serious on the economy of the United States we will look at America’s take on its own global empire.
The Netherlands, a fine country of flowers, windmills, and loose regulations around the finer things in life. This country is in many ways like a lot of very developed European economies we have explored earlier on the channel, very high living standards, good social mobility a strong economy and healthy inequality but the Netherlands hides a bit of a secret behind its lovely flowerful smile, it is one of the largest tax havens in the world.
But how does this make any sense? The Netherlands has a high-income tax rate of over 50% for top earners and a corporate tax rate of 25%. And there are not even particularly strict laws around things like banking privacy (like there are in countries like Switzerland) ... so if all of this is making the Netherlands sound like a pretty terrible tax haven all in all, why is it so popular?
The New York Stock Exchange is the world's largest and most liquid securities market.
It's where many of world's largest companies list their shares to be traded amongst millions of investors worldwide; ranging from small individual investors to major financial institutions and governments.
But the NYSE isn't the only exchange. In fact, there are hundreds of exchanges around the world that also work to raise capital for corporations.
And while you're probably familiar with the classic imagery of loud bombastic traders in bright uniforms when you think of stock exchanges, the reality is quite different.
The age of the automated trading machines is upon us and most trades executed today aren't coming from humans but rather algorithmic trading machines.
These computer algorithms (or "algos") come in all sorts of shapes and sizes. But the most controversial of all is known as "high-frequency trading" or "HFT".
The United States of America, the wealthiest, most powerful nation on the planet by a very respectable margin. The sheer scale of the united states wealth and influence is really really hard to fathom, even for macro-economists, sure there are GDP figures, trade balances and labor force figures, but they are best for telling the story of a normal national economy, and the United States are far from that, its consumer retail sector is bigger than all but 9 of the largest national economies in the world, California, one of its states has a bigger GDP figure than the united kingdom and the US has fifty states.
The U.S. economy goes beyond this though, it is the foundation for the world economy in the 20th and 21st centuries, and this influence isn’t caused by something so old fashioned as an empire, but rather industry. Today US companies can be seen dominating industries in economies all over the world, and at the same time, foreign companies from Europe and Asia fight endlessly to break into the US market, the largest and most influential consumer market in the world.
The U.S. economy is too large with too many facets to explore in a single episode, so this will be made as a video series but for now, in this episode, I want to explore how the United States of America got to where it is today.
Global warming is something that threatens to impact us all: both environmentally (with the loss of natural marvels such as the great barrier reef) and economically.
But humans aren't actually contributing as significantly as you may think to global warming.
In fact, the vast majority of the world's population lives a relatively low-carbon emission lifestyle compared to "the developed world".
Yet, ironically, the world's poorest citizens are the ones most likely to be impacted by the potential byproducts of a warmer planet.
In this episode, let's explore the economic impacts of climate change – both in terms of its potential consequences and the feasibility of available solutions.
This is Singapore, a city-state nation just off the coast of Malaysia it is one of the most praised and highly regarded economies amongst the business community in the world. It was up until recently ranked by the world bank as the easiest country in the world to conduct business, but it has recently been usurped by new Zealand of all places so make of that what you will. Even been content with its silver medal though Singapore has made itself a central home of finance, business, and trade for all of southeast Asia which is remarkable considering it is a nation without much in the way of land, resources, or even a particularly large population.
Singapore has obviously had some advantages, it was in the right place a the right time both economically and geographically to capitalize on the growth of Asia as a global region of trade. But prosperity wouldn’t have just happened to a small little spit of land off the coast of Malaysia with very little in the way of arable land or natural resources. It did the right things to ensure it was the go-to a middleman for as much as it could be a part of in the region by developing the right mix of the right economic policies and not containing itself to one ideology to dictate the direction of the entire nation.
In July of 2009, The Central Bank of Sweden lowered its overnight deposit rate to negative 0.25% – effectively charging the country's retail banks to pay it to look after its money.
At the turn of the millennia, negative interest rates were somewhat of an economic fantasy: the same way that light-speed travel is a fantasy for theoretical physicists. Economists had speculated about what negative interest rates would mean, but nobody actually ever expected this phenomenon to exist in the real world.
Today, negative interest rates dominate the market for sovereign bonds and are the staple of many central banks. But how in the world does this make sense? Who in their right mind would pay someone to take their money? ... all this and more in today's episode!
Venezuela. Once the richest country in all of Latin America, it is now home to the single greatest economic downturn for a country in modern history. In terms of countries that had it easy, Venezuela, by all counts, should be at the top of the list. It's home to the largest oil deposits in the world – easily beating out the typical oil giants like Saudi Arabia, Kuwait, and the United Arab eremites ... but they squandered it.
A lot has been said about the political issues surrounding the downfall of Venezuela, and don’t get me wrong there have been plenty of political issues, but in this episode, we will just focus on the fundamental economics behind Venezuela's unprecedented rise and its devastating fall.
This is Canada, a highly advanced first world country blessed with an abundance of natural resources and polite people. This nation is often a side though when compared to its far more influential and much louder brother to the south, but Canada is an extremely important economy in its own rights with a few key contributors that make it truly unique in the western hemisphere. For starters, it is a commonwealth country meaning that while it is a free and independent state, it still takes a lot of its lessons from its mother back across the Atlantic ocean.
The nation is also blessed and cursed by its own geography and anther issue worth exploring is the love/hate relationship that Canada has had with skilled immigration in the past decades.
In this episode, we'll explore the issues facing Canada and look respectively at how they are the perfect case study for the world as a whole.
The world of cryptocurrency began as little more than an experiment in computer engineering circles and has since evolved into (arguably) the most dynamic and volatile asset class ever conceived.
In today's episode, let's approach the topic of cryptocurrencies pragmatically and how they fit into the world of investments.
Trump. A man who needs no introduction. Today, let's look exclusively at President Trump's economic policies, go over their quirks and features, and more!
Trump is one of the few candidates we can actually talk about so early in this election cycle because, of course, he is the incumbent president. So, we don’t have to speculate about his promised economic policies. We can actually look directly at the policies that he has already enacted.
Trump’s policies are quite notable in two distinct fields where he has taken relatively assertive action, foreign, and domestic economics.
The foreign currency exchange market is one of the most influential markets in the world today, the New York stock exchange, the Nasdaq and the Tokyo stock exchange the three largest securities markets in the world have a daily trading volume of around 300 billion USD combined… the foreign exchange market has a daily trading volume of around 6.6 trillion dollars per day according to the Bank for International Settlements (which is basically the central bank for central banks). This daily figure is more than the annual GDP of all but two of the largest nations on earth, China and the USA.
Well, in this episode I want to explore three things: Why is the foreign exchange market so large and influential? Who actually conducts these trades and how? And while we are at it why is it that the UK pound is so valuable compared to all other currencies?
Westeros: the fictional nation that is home to a majority of the story of Game of Thrones, an ongoing book series, and wildly popular TV show.
For the sake of this episode, we'll attempt to put to the side that Westeros is very obviously middle ages England and Essos (the other land featured prominently in the story) is based on Europe and Mediterranean nations around the turn of the renascence.
This was obviously an inspiration for George RR Martin, but the writer has gone beyond that and interlaced curiosities from many historic economies into a world that adds a layer of complexity and realism that isn’t present in typical fantasy stories of the genre.
So, let's explore how they work together and add to the narrative that drives The Game of Thrones.
Switzerland, an extremely beautiful landlocked country in the heart of Europe, this picturesque nation is home to one of the most advanced economies in the world. When ignoring micronations like Monaco or Lichtenstein, Switzerland is one of only two countries in the world that has a nominal GDP above $80,000 USD per capita.
The Swiss are a little bit different though, other wealthy nations like Norway were typically blessed by a treasure trove of natural resources Switzerland did not have this. It was also lacking a lot of other key ingredients that contribute heavily to most successful countries, it did not have open access to an ocean for international trade, it did not have a particularly competitive cheap labor market, it did not have terrain that made building productive infrastructure particularly easy and it didn’t even have a population that could agree on what language to speak.
So what was its secret then, how did this nation obtain such tremendous wealth while seemingly been at such a huge disadvantage. In this episode, we will attempt to find out by looking beyond just the simple facts and figures that make for strong economies.
This is Andrew Yang: a tech entrepreneur and a bit of a surprise underdog democratic candidate for the U.S. presidency.
And while it's true that this podcast avoids politics at all costs, India Economics is not politically advocating for (or against) Andrew Yang or any of the other candidates discussed between now and the 2020 election. And we'll not be looking at Yang as a candidate beyond his economic policies.
Runescape: one of the oldest and most involved massively multiplayer online role-playing games in existence.
The game has been played by millions around the world but for those of you familiar to the channel you know we are not here for the gameplay or the mad early 2000’s style graphics, we are here for the economy.
And oh boy does Runescape have an amazing economy.
In this episode, we'll explore the nuances of this economy and also look at an academic paper submitted by a channel viewer on this incredible virtual economy. Enjoy!
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.
Monaco is the wealthiest nation in the world per capita. It's also the country with by far the highest average age of citizens. It has the highest cost of land of any country in the world, it pretty much breaks any kind of list you want to make ranking countries cause you can pretty much bet that this 2 square kilometer spit of land off the south of France is going to win any economic top ten list out there.
So, what is really going on with the economy of Monaco?
Most people know it as a playground for the rich and famous, a parking garage for superyachts, a glorified formula 1 track, a country built around a casino, and above all else, a tax haven. But is this criticism really fair? ... let's explore in today's episode!
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.
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.
This is Star Citizen: possibly the most ambitious virtual world in video game history.
Star Citizens' story has been that of bold ambition, record-breaking community support, and yes ... even a bit of good old-fashioned frustration.
In this episode, we'll explore crowdfunding, the video game industry, and a project that may prove to be the greatest video game in history. Enjoy!
In this episode, we explore Titans the biggest ships in the game and how industrial superpowers have built them on a massive scale.
Additionally, we'll also check out a project so monolithic in its scale of player involvement that it surpasses any other project in video game history.
As of the time of this writing, there are between 186 and 192 countries in the world (depending on who you ask).
In this less-than-serious episode, let's take a look at the 50 largest nations and see what makes their economies tick.
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 episode, 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.
EVE Online has a botting problem. Robots can be programmed to play this game for hours at a time with no rest needed.
This has meant that normal players looking to play the game have been pushed to the side by these armies of robots that can farm currency far more effectively than they can.
In this follow up episode, we'll explore this issue and how it relates to the economy of the real world.
EVE Online is a massively multiplayer online game that is probably best known for articles about massive space battles with tens of thousands of players, or stories about in-game con men screwing over their allies after years of friendship. BUT! EVE online is interesting for a bigger reason though that is often overlooked, and that is its amazingly realistic economy. In this video, we explore one of the player nation-states and see how crazy realistic the economy of a video game about spaceships can be.
This is not sponsored by the Imperium, EVE online, or its developer, CCP games (but they are more than welcome to send me a cheque!).
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”
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 is a situation with a very clear solution that is impossibly hard to attain.
Poverty is a tough issue to deal with, but in this episode, we'll attempt to explore some of the fundamental causes of this poverty and see how they impact the Congo's fragile economy.
The automation economy is here and it's important to understand what our future will look like in a world where we may not have the ability to work in order to provide for ourselves. We will look at what reputable economists have hypothesized our future to hold and the underlying economics behind these realities.
📚 Want to learn more about the economic history of Australia (and how its citizens got so rich)?
This podcast was made possible by our Patreon community! ❤️
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Norway's Economy has been used as the poster child for a socialist mixed economy done right? Is it really the perfect economy or just another country that won the oil lottery?
📚 Want to learn more about Norway's economy? We recommend reading "Viking Economics: How the Scandinavians Got It Right-and How We Can, Too ", by George Lakey
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Norway #Economics
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Sources & Citations -
Hellevik, O., 2003. Economy, values and happiness in Norway. Journal of Happiness Studies, 4(3)
Klein, L.R., 1948. Planned Economy in Norway. The American Economic Review, 38(5),
Richardson, B.J., 2011. Sovereign wealth funds and the quest for sustainability: insights from Norway and New Zealand. NJCL, p.i.
Backer, L.C., 2009. Sovereign wealth funds as regulatory chameleons: The Norwegian sovereign wealth funds and public global governance through private global investment. Geo. J. Int'l L
Andreß, H.J. and Heien, T., 2001. Four worlds of welfare state attitudes? A comparison of Germany, Norway, and the United States. European Sociological Review
Music: Brandenburg Concerto No4-1 BWV1049 - Classical Whimsical by Kevin MacLeod is licensed under a Creative Commons Attribution license
Yesterday we posted about Ruchi Soya, a company whose stock price has seemingly exploded by a whopping 9100% in just 5 months. So if you are looking to understand how all of this transpired, listen to this episode.
An explainer on why petrol and diesel prices have been on the rise these past few days.
This podcast tries to simplify the highly intricate subject matter that forms the basis of a very controversial paper published by Arvind Subramanian alleging that India has been overestimating its GDP by about 2.5 percent.