Why is Latin America poorer than North America? The massive differences in wealth between a rich United States and a relatively poor central and south America is startling and hard to explain at first. In the video we delve into the key historical, political and economic factors that have led to this inequality, finding that the answer is more startling and interesting than initially expected. Please Subscribe! https://www.youtube.com/c/CasualScholar?sub_confirmation=1 --Contents of this video-------------------------------- 00:00 - A Tale of Two Cities 01:29 - A Tale of Two Continents 04:03 - Spanish Colonization 07:09 - Enslaving Empire s 09:18 - The Mountain of Silver (Cerro Rico) 12:00 - English Colonization 13:30 - Why The United States is So Rich 15:38 - Why Latin America is Still Poor 20:33 - Why is Latin America Poorer than North America ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ CASUAL SCHOLAR IS MADE POSSIBLE BY OUR PATREON COMMUNITY! Support the channel by becoming a Patron today! 👉 https://www.patreon.com/CasualScholar The video you’re watching right now would not exist without the monthly support provided by our generous Patrons: Talon Hickey, Hayden Haun, Emmanuel Fredenrich, Pulaski, Adrian Willenbücher ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ --Sources used--------------------------------------------- Books: - Why Nations Fail: The Origins of Power, Prosperity, and Poverty - Bulmer-Thomas, V. (2003). The Economic History of Latin America since Independence (2nd ed., Cambridge Latin American Studies). Cambridge: Cambridge University Press. doi:10.1017/CBO9780511817397 Scholarly Articles: - https://projects.iq.harvard.edu/files/history-culture-society-workshop/files/acemoglu_2.pdf - Coatsworth, John H. “Inequality, Institutions and Economic Growth in Latin America.” Journal of Latin American Studies, vol. 40, no. 3, Cambridge University Press, 2008, pp. 545–69, http://www.jstor.org/stable/40056706. - https://www.nber.org/system/files/chapters/c10652/c10652.pdf #WhyisLatinAmericaPoorerthanNorthAmerica #LatinAmerica #Venezuela #Mexico #Economics #WhyisTheUnitedStatesSoRich

The first 100 people to use code CASUALSCHOLAR at the link below will get 60% off of Incogni: https://incogni.com/casualscholar Bangladesh was always supposed to be poor. At the dawn of its existence it was already a failing state. Not only did the war of independence destroy nearly every farm, factory, road and bridge, but it came just 4 months after Bangladesh was hammered with the most destructive tropical cyclone in record history. Yet, even more daunting was the reality that Bangladesh, deprived of considerable natural resources, habitually subjected to catastrophic natural disasters, and haunted by perpetual and often violent political instability, seemed devoid of a clear path toward making things better. It was a widespread perception that Bangladesh was destined to be forever synonymous with poverty and suffering, earning it the unflattering label, as an “international basket case”. But Astonishingly, against all conceivable odds, the past three decades have seen the country achieve, perhaps the most significant advancement in quality of life indicators of any place in the world, ever. Life expectancy has soared by 180%, while fatalities from tropical cyclones have been reduced by a staggering 100-fold. Poverty rates have dived from 80% to less than 19, while the child mortality rate has been cut by 92%. Its economy has emerged as one of the fastest growing in the world, with its GDP per capita once 50% less than Pakistan’s now almost 50% higher. And In 2019, it overtook even India, all while harboring aspirations of reaching high-income status by 2041. But how can a nation with all the odds stacked against it improve at such a blistering pace, Is this truly another economic miracle or a mirage that will painfully wither away. – Contents of this video -------------------------------- 00:00 - Bangladesh s Economic Miracle 04:17 - A Broken Nation 08:51 - Military Rule & Reforms 13:20 - A Laboratory for Poverty (NGO s) 18:15 - The Boom 25:08 - The Worry ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ THIS CHANNEL IS MADE POSSIBLE WITH THE HELP OF PATREON! Support the channel by becoming a Patron today! https://www.patreon.com/CasualScholar Thank you to the channel s generous Patrons! Hayden Haun, Emmanuel Fredenrich, Pulaski, Adrian Willenbücher, Hallucination, A Fan, robin valero ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ – Sources used -------------------------------- Bangladesh: Politics, Economy and Civil Society By David Lewis World Bank used for graph statistics https://www.economist.com/leaders/2023/03/02/is-bangladeshs-admired-growth-model-coming-unstuck https://www.economist.com/asia/2023/03/01/bangladeshs-economic-miracle-is-in-jeopardy https://www.economist.com/leaders/2021/03/27/bangladeshs-growth-has-been-remarkable-but-is-now-at-risk https://www.npr.org/2022/11/09/1134543648/bangladesh-economy-imf-loan https://www.economist.com/asia/2023/05/24/sheikh-hasina-is-asias-iron-lady The Bangladesh Economy Navigating the Turning Point by Kaushik Basu https://www.economist.com/asia/2023/05/24/sheikh-hasina-is-asias-iron-lady https://www.economist.com/briefing/2012/11/03/the-path-through-the-fields https://www.economist.com/asia/2017/09/07/bangladeshs-gdp-per-person-is-now-higher-than-pakistans https://foreignpolicy.com/2020/11/28/bangladesh-is-everyones-economic-darling-it-might-not-last https://www.brookings.edu/opinions/why-is-bangladesh-booming/ https://www.brookings.edu/blog/future-development/2021/07/09/bangladeshs-remarkable-development-journey-government-had-an-important-role-too/ https://www.cgdev.org/blog/bangladesh-growth-miracle-or-mirage#:~:text=The%20sources%20of%20growth%20Bangladesh s%20growth%20stems,over%206%20percent%20of%20GDP%20(Figure%202). #Economics #History #Bangladesh #CasualScholar #EconomicHistory #BangladeshHistory

Get an exclusive Surfshark deal! Enter promo code CASUALSCHOLAR for an extra 3 months free at https://surfshark.deals/casualscholar Embark on a journey through the mid-1800s, a pivotal era defined by the Industrial Revolution, where bird droppings, known as guano, emerged as a game-changer. This video navigates the influential role of Guano in the advent of industrial agriculture and the global shift in farming practices. Facing the alarming decline of soil fertility and farming productivity due to industrialization, societies needed a new solution. Traditional practices like crop rotation and the application of manure no longer sufficed. Enter Guano, the miraculous substance that sparked an agricultural renaissance, rejuvenating fields and boosting harvests beyond expectations. From farms in upstate New York, dwindling in productivity, to global fields experiencing unprecedented growth, this video reveals Guano s astonishing power and enduring influence on our world. From igniting agricultural transformations to shaping geopolitics, driving wars, and building empires, Guano has played a far-reaching role. Join us as we explore the extraordinary tale of this natural fertilizer and its pivotal role in history. – Contents of this video -------------------------------- 00:00 - The Problem that Threatened Progress 04:47 - The Islands that Changed the World 09:11 - The Age of Guano & Suffering 13:13 - The New Peru 15:39 - An Empire is Born 18:39 - The Guano Empire Goes Bust 21:30 - The Greatest Discovery in Modern History ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ THIS CHANNEL IS MADE POSSIBLE WITH THE HELP OF PATREON! Support the channel by becoming a Patron today! https://www.patreon.com/CasualScholar Thank you to the channel s generous Patrons! Hayden Haun, Emmanuel Fredenrich, Pulaski, Adrian Willenbücher, Hallucination, A Fan, robin valero ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ – Sources used --------------------------------------------- Guano and The Opening of the Pacific World by Gregory T. Cushman History s Great Untold Stories: The Larger Than Life Characters and Dramatic Events That Changed the World by Joseph Cummins https://www.atlasobscura.com/articles/when-the-western-world-ran-on-guano https://www.futurity.org/industrial-age-guano-pacific-bird-poo/#:~:text=Guano s%20significance%20extended%20beyond%20use,glazes%20more%20numerous%20and%20inexpensive. https://ushistoryscene.com/article/guano-islands-bird-turds/ https://www.newyorker.com/magazine/2013/10/21/head-count-3 https://www.coha.org/the-great-peruvian-guano-bonanza-rise-fall-and-legacy/ https://www.encyclopedia.com/humanities/encyclopedias-almanacs-transcripts-and-maps/guano-industry https://mises.org/library/great-guano-boom-and-bust https://www.economist.com/christmas-specials/2022/12/20/deadly-dirty-indispensable-the-nitrogen-industry-has-changed-the-world https://yaffle53.wordpress.com/2014/05/22/a-history-of-the-peruvian-guano-industry/ #Economics #History #Guano #CasualScholar #EconomicHistory

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Go to https://ground.news/scholar to stay fully informed on breaking news, compare coverage and avoid media bias. Sign up or subscribe through my link for 30% off unlimited access if you support the mission and find it as useful as I do. In 1950, Taiwan, post-colonial and war-ravaged, grappled with an economic downturn, amplified by the challenges of integrating 2 million refugees. Its GDP per capita then rivaled some of the world s poorest countries like Haiti and Madagascar. With looming threats from China and impending militaristic ambitions, Taiwan s future seemed uncertain. But fast-forward to today, and Taiwan is an economic marvel. With a median wealth surpassing most of Asia—including powerhouses like South Korea—and even rivaling Germany and the U.S., it s a beacon of prosperity. Taiwanese citizens rank among the world s most educated, their democratic governance is robust, and their high-tech industries play pivotal roles in global supply chains. Foxconn, Taiwan s tech giant, produces a speculated 40% of global consumer electronics, and up until recently, manufactured a staggering 80% of iPhones. Moreover, the country maintains a near monopoly on the manufacturing of semiconductors, a crucial component that powers everything in the modern world, from guided missiles, to modern cars and even the device you are using to read this description. From a colony of a militaristic empire to a thriving democracy, and from a backwards agrarian society, to technological Superpower, this is the remarkable story of Taiwan. – Contents of this video -------------------------------- 00:00 - A Broken Island 04:37 - The Bread Basket Colony 08:53 - The White Terror & Reforms 15:22 - The Boom 17:08 - The Miracle 19:54 - The World Abandons Taiwan 21:23 - High Tech Industry 24:17 - Too Much Money & Too Little Profit 26:33 - Making China Rich ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ THIS CHANNEL IS MADE POSSIBLE WITH THE HELP OF PATREON! Support the channel by becoming a Patron today! https://www.patreon.com/CasualScholar Thank you to the channel s generous Patrons! Hayden Haun, Emmanuel Fredenrich, Pulaski, A Fan, robin valero ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ – Sources used --------------------------------------------- Making Money: How Taiwanese Industrialists Embraced the Global Economy By: Gary G. Hamilton & Cheng-Shu Kao A Brief History of Taiwan - a Sparrow Transforming into a Phoenix By: FU-SAN HUANG Historical GDP Per Capita: Maddison Project Database 2020 (Bolt and van Zanden, 2020) Wealth Per Adult: Credit Suisse Global Wealth Databook 2022 Democracy Index: https://www.eiu.com/n/campaigns/democracy-index-2022/ https://press-files.anu.edu.au/downloads/press/p94971/pdf/article07.pdf https://www.jstor.org/stable/58529dd3-2265-33db-923b-6d7f0a67e232?read-now=1&seq=9 https://milkeninstitute.org/sites/default/files/reports-pdf/Recapturing-the-Taiwan-Miracle.pdf http://homepage.ntu.edu.tw/~ntut019/ltes/Sugar-Tea-Policy-en.pdf https://www.economist.com/special-report/2023/03/06/taiwans-dominance-of-the-chip-industry-makes-it-more-important #economics #History #Taiwan #CasualScholar #EconomicHistory #TaiwanHistory

The Soviet Union s Economy was once the envy of the world, But as rapidly as it arose the Soviet Union collapsed as a result of its crumbling Economy. but why? While the rest of the world struggled during the great depression, The Soviet Union was quickly and rapidly industrializing under Stalin s command, but locked within the foundations of the country lie an unavoidable time bomb. In this video we travel all the way back to the 14th century to understand the fundamental forces and conditions that caused Communism to arise in Russia in the first place. Then we follow the economic story and evolution from the Russian empire to the fall of the Soviet Union. --Contents of this video-------------------------------- 00:00 - 1920 s Global Economic Boom 00:50 - Great Depression 01:19 - The Soviet Economy Stands Alone 02:45 - The Roots of Economic Divergence 04:09 - The Black Death 06:40 - East Vs West European Economic History 07:55 - Industrial Revolution in the West 08:47 - The Russian Empire s Economy 11:55 - The Soviet Economy s Beginnings 13:42 - Soviet Industrialization - Stalin s 5 year plans 16:22 - Problems with Soviet Economy 21:00 - Cause of Soviet Union s Collapse 25:11 - Thanks for Watching! Support the Channel! https://www.patreon.com/CasualScholar --A Thank you to Viewers!-------------------------------- I really appreciate all those who watch my content, Thank you for being as interested in these topics as I am! As this is the channels first video, Any and all feedback would be greatly appreciated :) please Like and Subscribe to follow up for more Economics, History, and Geopolitical videos coming soon! --Sources----------------------------------------------------- (Books) -The Rise and Fall of the The Soviet Economy: An Economic History of the USSR from 1945 -Why Nations Fail: The Origins of Power, Prosperity, and Poverty (Scholarly Articles) -Economics in the Former Soviet Union -The Journal of Economic Perspectives Vol. 6, No. 2 -Soviet Economic Growth: 1928-1985 - Journal of Economic Literature Vol. 25, No. 4 -The Soviet Economy, 1917–1991: Its Life and Afterlife - Vol. 22, No. 2 #EconomyExplained #Economics #SovietEconomy

Botswana is the fastest growing economy in history, But how could that possibly be the case? Why is it so fundamentally better off than all of those that surround it? and Is the miraculous growth just too good to be true? Miraculously there appears to be a single extraordinary exception to the narrative of poverty in Africa. Straddling the Kalahari Desert in the interior of southern Africa lies the fastest growing economy for the last 50 years. Botswana for all intents and purposes looks identical to its neighbors and this is why in 1965 it was the 7th poorest nation on earth. But over the subsequent decades Botswana has maintained a political structure that s integrity rivals those in Europe, lifted a vast majority of its population from abject poverty, maintained civil and national peace, and invested the revenues of its natural wealth into its future and its people. --Contents of this video-------------------------------- 00:00 - African Economy 01:08 - Botswana Fastest Growing Economy 02:21 - Brief History of Botswana 05:21 - Botswana s Unique Institutions 06:27 - Independence 07:03 - Fastest Growing Economy Ever 08:06 - Seretse khama 09:04 - Diamond Revenue 10:32 - Too Good to be True? Support the Channel! https://www.patreon.com/CasualScholar --Sources used--------------------------------------------- Books: -Botswana – A Modern Economic History -Why Nations Fail: The Origins of Power, Prosperity, and Poverty Scholarly Articles: -An African success story: Botswana -The political state and the management of mineral rents in capital-surplus economies: Botswana and Saudi Arabia --Audio used------------------------------------------------ -Accralate - The Dark Contenent by Kevin MacLeod is licensed under a Creative Commons Attribution 4.0 license. https://creativecommons.org/licenses/by/4.0/ Source: http://incompetech.com/music/royalty-free/index.html?isrc=USUAN1100341 Artist: http://incompetech.com/ -Artifact - The Dark Contenent by Kevin MacLeod is licensed under a Creative Commons Attribution 4.0 license. https://creativecommons.org/licenses/by/4.0/ Source: http://incompetech.com/music/royalty-free/index.html?isrc=USUAN1100324 Artist: http://incompetech.com/ #Botswana #FastestGrowingEconomy #Economics #History

"China in Africa" is a highly contentious topic of debate these days. But why Has China been rushing into Africa? China been weaponizing African Infrastructure projects through its Belt and Road Initiative in order to take over African Economies. China is Utilizing Debt Trap Diplomacy written into Loans produced by the Belt and Road Initiative, a trillion dollar economic plan to link the world via economic infrastructure to leverage political favor with low income countries. --Contents of this video-------------------------------- 00:00 - China in Africa 01:50 - Entebbe International Airport 03:18 - Belt and Road Initiative 04:10 - Debt Trap Diplomacy 04:46 - China s Economic Masterplan 05:45 - China s Economic Problem 06:07 - Middle Income Trap 07:13 - Post 2020 Economic Collapse Support the Channel! https://www.patreon.com/CasualScholar --Other Videos You May Enjoy!--------------------- -Fastest Growing Economy Ever: https://youtu.be/FRlR-Yw6Pc0 -The Soviet Economy Explained: https://youtu.be/KOZlobXa9iM --Sources used--------------------------------------------- -Clarke, Michael. “The Belt and Road Initiative: China’s New Grand Strategy?” -Mobley, Terry. “The Belt and Road Initiative: Insights from China’s Backyard.” -MENDIS, PATRICK, and JOEY WANG. “UNVEILING CHINA’S GRAND PLAN: HOW AMERICA IS WAGING A FUTILE WAR WITH OTHER MEANS.” #ChinainAfrica #BeltandRoadInitiative #AfrianEconomy

The Roman Empire s Economy was Massive and Elusive. Through trade, markets, warfare, and finance The Roman Economy provided a standard of living for some that would not be matched again until the emergence of modern national economies in the 17th century. In this video we cover and overview the early empires economy, its workings and structure, compare it to other ancient and modern economies and discuss its major limitations and inequalities. --Contents of this video-------------------------------- 00:00 - The Roman Empire s Economy 01:13 - Evidence of Economic Activity 04:49 - Structure of the Economy 06:20 - Roman Markets 07:23 - Roman Banking 08:01 - Roman Warfare 08:36 - The Size of the Roman Economy 09:50 - Income s by Class 10:22 - Inequality in the Roman Empire 11:56 - Standards of Living 15:07 - Technological Advancements/Productivity 16:01 - The Shortcomings of the Economy 19:37 - Summary and Final Thoughts Support the Channel! https://www.patreon.com/CasualScholar --Other Videos You May Enjoy!--------------------- -The Soviet Economy Explained: https://youtu.be/KOZlobXa9iM -Fastest Growing Economy Ever: https://youtu.be/FRlR-Yw6Pc0 --Sources used--------------------------------------------- -Acemoglu, Daron, and James A Robinson. 2012. Why Nations Fail: The Origins of Power, Prosperity and Poverty (1st). 1st ed. New York: Crown, 529. -Temin, Peter, “The Economy of the Early Roman Empire.” The Journal of Economic Perspectives, vol. 20, no. 1, American Economic Association, 2006, pp. 133–51. http://www.jstor.org/stable/30033637. -Scheidel, Walter, and Friesen, Steven J., “The Size of the Economy and the Distribution of Income in the Roman Empire.” The Journal of Roman Studies, vol. 99, [Society for the Promotion of Roman Studies, Cambridge University Press], 2009, pp. 61–91. http://www.jstor.org/stable/40599740. -Harris, W. V., 2011. "Rome s Imperial Economy: Twelve Essays," OUP Catalogue, Oxford University Press, number 9780199595167. -Milanovic, Branko, Lindert, Peter, and Williamson, Jeffrey. 2007. “MEASURING ANCIENT INEQUALITY” NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 #RomanEmpire #RomanEmpireEconomy #RomanEconomy #RomanEconomics #Economics

The Aral Sea in 2022 is almost nonexistent. The Aral Sea has been rapidly disappearing over the last six decades making it the worst manmade natural disaster in history. Once the fourth largest lake, constituting 1% of Earths entire supply of Fresh Water, the Aral Sea now stands as a toxic wasteland. In this video we explore the incredibly interesting Story of the Aral sea from its creation to its destruction finishing up by answering the question, Can the Aral Sea be restored? If you look at any geography textbook from the 1960s or prior you re bound to see a list of the world s largest lakes. However in every subsequent textbook one lake, the Aral Sea Which for reference is the size of Ireland, has been steadily and rapidly dropping in Rank to its lowest place of 22nd largest, that is of course if you count it all together as the sea has separated into multiple smaller sections. In just 5 decades the vibrant Aral sea has lost 90% of its original surface area representing a loss of 1% of Earth s entire supply of Surface fresh water. What was once a thriving ecological and economic zone within the heart of Central Asia has quickly become one of if not these worst human made natural catastrophes in history. This Coupled with its relative lack of attention on the global stage has earned the disaster the moniker, The silent Chernobyl. What at first may appear as just the loss of a large lake is in actuality the stage and root for modern child slavery in the region, biological weapon leaks, sever regional climate change, one of the highest infant mortality rates in the world and cancer rates that are 20 times above global average. The Story of the Aral Sea is as much a story about human hubris as it is about economic strife, utopian visions of the future, geopolitical tensions, and ultimately hope. --Contents of this video-------------------------------- 00:00 - Uzbekistan s White Gold 01:31 - The Shrinking of the Aral Sea 02:56 - How the Aral Sea was Created 04:18 - The Russian Empire 04:55 - Stalin s Great Plan for the Transformation of Nature 06:45 - What happened to the Aral sea? 07:14 - Aralsk-7 08:02 - The Toxic Wasteland 09:08 - Can the Aral sea be restored? 10:16 - The Future of the Aral Sea Support the Channel! https://www.patreon.com/CasualScholar --Sources used--------------------------------------------- Books: - Why Nations Fail: The Origins of Power, Prosperity, and Poverty Scholarly Articles: - http://www.cs.cornell.edu/courses/cs6702/2011sp/readings/AralSea2011.pdf - https://www.economist.com/banyan/2010/05/14/and-its-good-night-from-the-aral-sea - https://www.economist.com/asia/2000/06/29/saving-the-last-drop - https://foreignpolicy.com/2020/03/28/international-cotton-boycott-uzbekistan #AralSea #NaturalDisaster #SovietUnion #ManmadeDisaster #Uzbekistan #kazakhstan #Russia

Does the Russian Invasion of Ukraine mean that China will Invade Taiwan? As Russian troops march to Surround Kyiv the world is left with a lot of questions, but one thing is for certain, We have now entered a new Era of Geopolitics. With a largely United West in resistance to Russian aggressions it begs the question, What does China think about the situation in Ukraine. Does this fundamentally change the geopolitical calculus in which the Chinese Communist Party operates? --Contents of this video-------------------------------- 00:00 - Intro 01:20 - Current Situation of War In Ukraine 03:17 - Ukraine and Taiwan 04:50 - China-Russian Alliance 08:25 - Sanctions and the Russian Economy 10:50 - Will China Invade Taiwan? 12:14 - What has China done so far? 14:15 - What an Invasion Would Look Like 15:48 - Slava Ukraini Support the Channel! https://www.patreon.com/CasualScholar --Sources used--------------------------------------------- - https://www.nytimes.com/2022/02/27/business/china-russia-ukraine-invasion.html - https://thediplomat.com/2022/03/the-ukraine-invasion-what-lessons-is-china-learning/ - https://www.npr.org/2022/02/28/1083581132/putins-invasion-of-ukraine-may-be-putting-russias-alliance-with-china-to-the-tes - https://www.npr.org/2022/02/25/1082996885/in-phone-call-china-plays-a-balancing-act-over-russias-invasion-of-ukraine - https://www.cfr.org/in-brief/china-russia-war-ukraine-taiwan-putin-xi - https://www.economist.com/asia/2022/02/26/parallels-with-taiwan-colour-asian-views-of-the-war-in-ukraine - https://foreignpolicy.com/2022/03/01/belt-road-initiative-new-eurasian-land-bridge-china-russia-poland/ - https://www.nytimes.com/2022/02/25/us/politics/us-china-russia-ukraine.html - https://www.nytimes.com/2022/03/02/us/politics/russia-ukraine-china.html #ChinaReactiontowarinUkraine #ChinaWarinukraine #ChinaonwarinUkraine #Ukraineconflict #RussianInvation #UkraineWar

Sponsored by Blinkist: Use my special link to start your free 7 day trial with Blinkist and get 25% off of a Premium membership: https://www.blinkist.com/casualscholar Venezuela was once the 4th richest nation on Earth. It now stands as the largest economic collapse of any nation in modern history. It has the largest proven oil reserves on the planet yet its citizens are now starving. In many ways Venezuela s Economy and Citizens act in reverse to traditional economic theory. So what happened? Why is Venezuela s Economy so Terrible? Support the Channel! https://www.patreon.com/CasualScholar --Contents of this video-------------------------------- 00:00 - The Strangest Economy on Earth 03:03 - Venezuela Strikes Oil 04:49 - The Dutch Disease 08:00 - The 4th Richest Nation on Earth 11:58 - Why Democracy Failed 12:54 - Too Much Money 15:19 - The Beginning of the End 18:38 - Hugo Chaves 19:46 - 21st Century Socialism 25:13 - The Worst Economic Collapse in History --Sources used--------------------------------------------- - Crude Nation by Ral Gallegos - Why Nation Fail by Daron Acemoglu and James A. Robinson - Authoritarianism and the Rentier State - Venezuela and Nigeria Authoritarianism and the Rentier State - Venezuela and Nigeria -Thomas, V. (2003). The economic history of Latin America since independence (2nd ed.). Cambridge, U.K.: Cambridge University Press. - Colonialism in the land of Bolivar: An analysis of institutional persistence in Venezuela Stefan Martinez-Ruiz - https://www.economist.com/finance-and-economics/2017/04/06/how-chavez-and-maduro-have-impoverished-venezuela - https://www.economist.com/the-economist-explains/2014/12/08/why-the-oil-price-is-falling #VenezuelaEconomy #Venezuela #LatinAmerica #Economics #SouthAmerica

Join Private Internet Access VPN today and get 82% off a two year plan + 3 months free! https://www.privateinternetaccess.com/Casual Sri Lanka is on the verge of complete Economic Collapse, 15 hour rolling blackouts are crippling businesses, food has become hard to come by and expensive, and the streets are descending into chaos not seen since the end of its brutal 30 year long civil war. But how did Sri Lanka get into this mess in the first place, and what does this mean for the rest of the world? ----------------------------------------------------------------------------------------------------- Support the Channel! https://www.patreon.com/CasualScholar ----------------------------------------------------------------------------------------------------- --Contents of this video-------------------------------- 00:00 - Sri Lanka s Economic Crisis 03:11 - Sri Lanka is not a poor nation 03:35 - Source of Growth 04:52 - Collapse of Sri Lankan Tourism 06:18 - The Beginning of the end 08:19 - Going Bankrupt 08:54 - Rapid Inflation 09:50 - Global Economic Downturn 10:15 - Sri Lanka s Current Economic Condition 11:08 - Global Economic Crisis for Developing Nations #srilanka #srilankanews #srilankaeconomycrisis #srilankaeconomy

Sponsored by Blinkist: Use my special link to start your free 7 day trial with Blinkist and get 25% off a Premium membership: https://www.blinkist.com/casualscholar Norway is one of the Richest Nations on Earth, but its not exactly obvious why. Its large quantities of oil may be your first conclusion, but most oil rich small nations suffer from severe economic and social issues. How did Norway avoid the oil curse to become the economic powerhouse it is today and does Norway possess the perfect economy? 🔔 SUBSCRIBE TO CASUAL SCHOLAR: https://www.youtube.com/c/CasualScholar/?sub_confirmation=1 Support the Channel! https://www.patreon.com/CasualScholar --Contents of this video-------------------------------- 00:00 - Norway s Humble Beginnings 01:01 - Second Richest Nation on Earth 02:38 - The Dutch Disease/Oil Curse 04:55 - Catching up to its Neighbors 08:25 - Let there be Oil 09:53 - Why Norway Turned out Differently 12:11 - Norway s Sovereign Wealth Fund 14:03 - The Perfect Economy? --Sources used--------------------------------------------- - Trillion Dollar Baby: How Norway Beat the Oil Giants and Won a Lasting Fortune By Paul Cleary - The Norwegian Economy 1900-2000: From Rags to Riches A brief history of economic policymaking in Norway - The Economic History of Norway Ola Honningdal Grytten, Norwegian School of Economics and Business Administration -The Wealth of a Nation: Road to Prosperity BY Ola Honningdal Grytten -https://www.economist.com/finance-and-economics/2017/09/23/norways-sovereign-wealth-fund-passes-the-1trn-mark -https://www.economist.com/special-report/2013/01/31/the-rich-cousin #NorwayEconomy #NorwayRich #Economics #CasualScholar

Start speaking a new Language In 3 weeks with Babbel 🎉. Get up to 65% OFF your subscription ➡️Here: https://go.babbel.com/t?bsc=1200m65-youtube-casualscholar-aug-2022&btp=default&utm_term=generic_v1&utm_medium=paidsocial&utm_source=YouTube&utm_content=Influencer..casualscholar..USA..YouTube North Korea has arguably the worst economy in the world. However this was not always the case. In fact for a brief moment in time it was the most industrialized nation in Asia and persistently outperformed South Korea for decades. How did not North Korea go from the “Idea socialist state” to the worst place to live in the world? Please Subscribe! https://www.youtube.com/c/CasualScholar?sub_confirmation=1 ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Support the Channel! https://www.patreon.com/CasualScholar ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ --Contents of this video-------------------------------- 00:00 - North Korea: The Worst Place To Live in the World 03:00 - Korean History & Japanese Occupation 05:08 - "The Liberation of Korea" 07:28 - The Korean War 09:49 - North Korea s Economic Golden Age 12:45 - Soviet & Chinese Aid 14:24 - The Beginning of the End 17:16 - Prioritizing the Military 18:49 - Economic Envy 20:39 - The Great Famine 22:55 - Life After Collapse 25:02 - How North Korea Still Exists -- Sources used --------------------------------------------- - The Impossible State North Korea, Past and Future by Victor Cha - Unveiling the North Korean Economy: Collapse and Transition by Byung-Yeom Kim -https://web.archive.org/web/20170705205556/https://www.wilsoncenter.org/sites/default/files/NKIDP_Working_Paper_4_China_and_the_Postwar_Reconstruction_of_North_Korea.pdf -chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://carleton.ca/economics/wp-content/uploads/cep04-05.pdf -https://www.ier.hit-u.ac.jp/COE/Japanese/Newsletter/No.6.english/KIMURA.html ------------------------------------------------------------------- Thank you to my Patrons! Talon H Hayden H Adrian W Pulaski ------------------------------------------------------------------- #NorthKoreanEconomy #northkoreanCrisis #Economics #CasualScholar #kimjongun

Thanks to Scopely for sponsoring this video - Download Star Trek Fleet Command on iOS & Android and battle in the Star Trek universe here: https://pixly.go2cloud.org/SH3Mc Today Singapore is one of the richest and most prosperous nations on earth, but it s not exactly obvious how. At independence it was surrounded by hostile nations, had no natural resources, two thirds of its population lived in slums and it appeared destined to remain underdeveloped and poor. How did Singapore succeed when many other nations failed and is Singapore s economic miracle just too good to be true? Please Subscribe! https://www.youtube.com/c/CasualScholar?sub_confirmation=1 ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Support the Channel! https://www.patreon.com/CasualScholar ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ --Contents of this video-------------------------------- 00:00 - Singapore s Humble Beginnings 03:01 - The Beginning s of Singapore 04:43 - The Rise of Singapore 06:49 - The Fall of Singapore 08:32 - Independence 10:42 - Building a Nation from Scratch 11:39 - Dictatorship 12:59 - Housing the Masses 14:35 - Singapore s Economic Miracle 16:39 - Improving Productivity 18:11 - State Owned Enterprises 19:27 - The 4th Richest Nation on Earth -- Sources used --------------------------------------------- - The Economic Growth of Singapore: Trade and Development in the Twentieth Century by W. G. Huff - From Third World to First: The Singapore Story: 1965-2000 by Lee Kuan Yew -https://www.thoughtco.com/singapores-economic-development-1434565 -chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://www.emerald.com/insight/content/doi/10.1108/PAP-06-2018-002/full/pdf?title=why-singapore-works-five-secrets-of-singapores-success -https://www.researchgate.net/publication/343254328_The_Economic_Development_of_Singapore_A_Historical_Perspective -chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://lkyspp.nus.edu.sg/docs/default-source/case-studies/entry-1516-singapores_transformation_into_a_global_financial_hub.pdf?sfvrsn=a8c9960b_2#:~:text=Singapore s%20origins%20as%20a%20financial,a%20crown%20colony%20in%201867. ------------------------------------------------------------------- Thank you to my Patrons! Talon H Hayden H Adrian W Pulaski ------------------------------------------------------------------- #SingaporeEconomy #SingaporeRich #LeeKuanYew #Economics #CasualScholar

► Skip the waitlist and invest in blue-chip art for the very first time by signing up for Masterworks: https://masterworks.art/casualscholar Purchase shares in great masterpieces from artists like Pablo Picasso, Banksy, Andy Warhol, and more. See important Masterworks disclosures: https://www.masterworks.io/about/disclaimer Rwanda may be the most unlikely economic success story that has ever existed. The tragic events of 1994 destroyed any semblance of a modern nation state. Yet Rwanda has been one of the fastest developing nations in the last 20 years. In almost every metric that measures the quality of a nation, Rwanda has made remarkable improvements that can only be described as a miracle. How has Rwanda done it and is its miracle just too good to be true? Contents of this video 00:00 - The Poorest Nation On Earth 03:34 - Rwanda s History 07:16 - Paul Kagame & Civil War 08:16 - Total Collapse of the State 09:36 - Rebuilding from the Ashes 11:16 - The RPF s Totalitarian Regime 13:41 - Investing in its People 16:22 - The Rwandan Economic Miracle 20:34 - Miracle Or Mirage Support the Channel! https://www.patreon.com/CasualScholar Sources used -Rwanda Inc. By Patricia Crisafulli & Andrea Redmon -https://www.macrotrends.net/countries/RWA/rwanda/gdp-per-capita -https://tradingeconomics.com/country-list/corruption-index -https://www.afdb.org/fileadmin/uploads/afdb/Documents/Knowledge/Economic%20Transformation%20in%20Africa%20The%20Case%20of%20Rwanda.pdf -chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://www.sfu.ca/~djacks/data/boombust/Chartbook%20for%20From%20Boom%20to%20Bust%202102.pdf -https://www.economist.com/business/2012/02/25/africas-singapore -https://data.worldbank.org/indicator/DT.ODA.ALLD.CD?end=2020&locations=RW&start=1960&view=chart -https://www.economist.com/briefing/2017/07/15/paul-kagame-feted-and-feared -https://hir.harvard.edu/growth-from-genocide-the-story-of-rwandas-healthcare-system/#:~:text=Today%2C%2091%20percent%20of%20Rwandans,life%20expectancy%20and%20living%20standards. -https://www.unicef.org/rwanda/education -http://whynationsfail.com/blog/2012/6/20/from-gisenyi-to-goma-to-genocide.html -chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://www.nirda.gov.rw/uploads/tx_dce/National_Strategy_For_Trsansformation_-NST1-min.pdf -chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/http://erepository.uonbi.ac.ke/bitstream/handle/11295/90849/Kamali_Police%20Reforms%20In%20Post%20Conflict%20Countries%20A%20Case%20Study%20Of%20Rwanda%20National%20Police%20(1994%20-%202005).pdf?sequence=4 -https://issuu.com/objectif-developpement/docs/rwanda-development-model-sustainability?e=4503065/85713394 https://tradingeconomics.com/rwanda/ease-of-doing-business https://data.worldbank.org/indicator/BX.KLT.DINV.CD.WD?locations=RW https://www.worlddata.info/africa/rwanda/tourism.php https://www.worlddata.info/africa/rwanda/tourism.php -The Non-Sustainability of Rwanda’s Economic Miracle George B. N. Ayittey #Rwanda’sEconomy #RwandaHistory #PaulKagame #Economics #CasualScholar

Play War Thunder now with my link, and get a massive, free bonus pack including vehicles, boosters and more: https://playwt.link/casualscholarwt2022 California’s economy is massive. If it was an independent nation it would be the fifth largest by GDP. In the Span of 150 years California went from a far flung Mexican territory with only 150,000 people, to arguably the most influential piece of land on the entire earth. Yet today it has the highest poverty rate when adjusted for cost of living, thousands of large companies are moving out, and for the first time in its history it lost population in 2020. How did California become so incredibly rich, just to become unaffordable for a vast majority of its population? 🔔 SUBSCRIBE TO CASUAL SCHOLAR: https://www.youtube.com/c/CasualScholar/?sub_confirmation=1 Contents of this video 00:00 - California’s Economy 01:21 - California Exodus 04:20 - The Gold Rush 07:24 - How California Became Rich 12:26 - California s Cost of Living 14:37 - Worsening Educational System 15:35 - Unemployment & Inequality 16:47 - Taxes & Business environment 18:03 - Business Exodus 19:29 - The Death of the California Dream ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ CASUAL SCHOLAR IS MADE POSSIBLE BY OUR PATREON COMMUNITY! Support the channel by becoming a Patron today! 👉 https://www.patreon.com/CasualScholar The video you’re watching right now would not exist without the monthly support provided by our generous Patrons: Talon Hickey, Hayden Haun, Emmanuel Fredenrich, Pulaski, Adrian Willenbücher ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Sources used https://www.theatlantic.com/ideas/archive/2021/07/california-dream-dying/619509/ https://siepr.stanford.edu/publications/policy-brief/tale-two-states-contrasting-economic-policy-california-and-texas https://www.economist.com/united-states/californias-demography-is-at-odds-with-the-old-california-dream/21809086 https://calmatters.org/explainers/the-open-secret-about-california-taxes/ Not so golden after all by Larry N. Gerston https://calmatters.org/economy/2020/09/anti-california-dream-moving-industry/ https://www.loc.gov/collections/california-first-person-narratives/articles-and-essays/early-california-history/from-gold-rush-to-golden-state/ https://www.businessinsider.com/california-has-highest-poverty-level-in-the-us-census-bureau-2021-9 https://www.businessinsider.com/silicon-valley-history-technology-industry-animated-timeline-video-2017-5 https://www.statista.com/statistics/227249/greatest-gap-between-rich-and-poor-by-us-state/#:~:text=New%20York%20was%20the%20state,the%20United%20States%20that%20year. https://flowingdata.com/2021/03/25/income-in-each-state-adjusted-for-cost-of-living/ https://youtu.be/Ez90rXhMWjE #CaliforniasEconomy #CaliforniaHistory #CaliforniaMidterms #Economics #CasualScholar

Play Enlisted for FREE on PC, Xbox Series X|S and PS®5: https://playen.link/casualscholaren2022 Follow the link to download the game and get your exclusive bonus now. See you in battle! In this video, we take a deep dive into the history and current state of Cuba s economy. From its origins as a tropical paradise and economic powerhouse, to its struggles with food shortages and economic decline, we explore the key factors that have shaped the country s economic trajectory. From colonization and corporate domination to the impact of Fidel Castro s communist rule, this video offers a comprehensive look at the complex history of Cuba s economy 🔔 SUBSCRIBE TO CASUAL SCHOLAR: https://www.youtube.com/c/CasualScholar/?sub_confirmation=1 – Contents of this video -------------------------------- 00:00 - Cuba’s Economy 01:35 - Why is Cuba Still Poor? 01:35 - Let There Be Sugar 05:56 - Cuba s Economic Golden Age? 07:42 - The Revolution 11:18 - The Failed Economic Experiment 14:26 - Cuba s Communist Golden Age 16:04 - The Special Period 20:49 - Why Cuba is Still Poor ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ CASUAL SCHOLAR IS MADE POSSIBLE BY OUR PATREON COMMUNITY! Support the channel by becoming a Patron today! 👉 https://www.patreon.com/CasualScholar The video you’re watching right now would not exist without the monthly support provided by our generous Patrons: Talon Hickey, Hayden Haun, Emmanuel Fredenrich, Pulaski, Adrian Willenbücher ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ – Sources used --------------------------------------------- Cuba an American history by Ada Ferrer https://cubaonthehorizon.cofc.edu/the-cuban-economy/ https://cubaonthehorizon.cofc.edu/timeline-of-cuba-history/ https://www.economist.com/graphic-detail/2016/03/18/cuban-thaw-a-history-of-us-cuban-relations https://www.economist.com/the-americas/2021/07/01/cuba-is-facing-its-worst-shortage-of-food-since-the-1990s https://www.economist.com/the-americas/2020/04/04/cubas-doctors-are-in-high-demand https://www.economist.com/the-americas/2020/04/23/cuba-on-the-edge https://www.economist.com/the-americas/2017/04/01/what-the-tourist-industry-reveals-about-cuba https://www.usgs.gov/news/national-news-release/updated-information-cuba-mineral-and-petroleum-resources-released https://graphics.wsj.com/100-legacies-from-world-war-1/cuban-sugar https://hbr.org/2015/08/what-you-might-not-know-about-the-cuban-economy https://hbr.org/2016/12/doing-business-in-a-post-fidel-cuba?ab=at_art_art_1x4_s02 #cuba #economy #CubaHistory #FidelCastro #Economics #CasualScholar

Play Crossout for FREE on PC, Xbox Series X|S and PS®5: https://playxo.link/casualscholarxo2022 Follow the link to download the game and get your exclusive bonus now. In the mid-19th century, Ireland experienced a devastating period of starvation and poverty known as the Great Hunger. The potato fields, which were a main source of food for the Irish population, were decimated by a deadly pathogen, leading to the death of 1 million people, or 11% of the entire population, in just seven years. The effects of this disaster were long-lasting and the population of Ireland has never fully recovered. Despite this, Ireland has managed to transform itself into one of the wealthiest nations in the world. It has achieved rapid economic growth and its citizens are among the most educated, wealthy, and happy in the world. However, this transformation is somewhat mysterious, as Ireland does not have any inherent qualities that would make it particularly well-suited for prosperity. It does not have abundant natural resources like other wealthy nations, and it has a relatively large population compared to other rich micronations. In 2015, Ireland achieved an aggregate GDP growth rate of 25.2%, the fastest of any nation in the world. This growth has continued and it appears that Ireland is on track to become the wealthiest country in the world. But how exactly did Ireland become so incredibly rich, and is this economic miracle just too good to be true? 🔔 SUBSCRIBE TO CASUAL SCHOLAR: https://www.youtube.com/c/CasualScholar/?sub_confirmation=1 – Contents of this video -------------------------------- 00:00 - Ireland s Economy 01:28 - Second Richest Nation on Earth 03:44 - Why Ireland was so Poor 05:35 - Economic Nationalism 07:02 - Ireland Opens up to the World 09:10 - The Sick Man of Europe 10:55 - The Celtic Tiger 15:22 - Leprechaun Economics 17:13 - Ireland Today & Tomorrow ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ CASUAL SCHOLAR IS MADE POSSIBLE BY OUR PATREON COMMUNITY! Support the channel by becoming a Patron today! 👉 https://www.patreon.com/CasualScholar The video you’re watching right now would not exist without the monthly support provided by our generous Patrons: Talon Hickey, Hayden Haun, Emmanuel Fredenrich, Pulaski, Adrian Willenbücher ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ – Sources used --------------------------------------------- -Nominal GDP per capita sourced from the IMF -https://cadmus.eui.eu/bitstream/handle/1814/1656/00_16.pdf?sequence=1 -https://www.britannica.com/event/Great-Famine-Irish-history -https://www.rte.ie/brainstorm/2022/0315/1286447-1970s-energy-shocks-oil-shortages-ireland/ -https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?locations=IE-LU-NO-SG-CH-QA -https://www.macrotrends.net/countries/IRL/ireland/population -https://www.economicsobservatory.com/irelands-economy-since-independence-what-lessons-from-the-past-100-years -https://www.economist.com/europe/2013/01/12/celtic-metamorphosis -https://www.economist.com/special-report/2004/10/16/the-luck-of-the-irish -https://www.irishtimes.com/business/economy/we-re-not-as-rich-as-we-have-been-told-to-think-we-are-1.4476247 -https://growthlab.cid.harvard.edu/files/growthlab/files/2_oclery.pdf #Ireland #IrelandEconomy #IrelandHistory #Economics #CasualScholar