The Monolithic Economy of The U.S.A

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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 video, so this will be made as a video series but for now, in this video, I want to explore how the United States of America got to where it is today.
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📚 Want to learn more about the economy of the U.S.A? We recommend reading "An Empire of Wealth: The Epic History of American Economic Power", by John Gordon
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#America #Monolithic #Economics
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Sources & Citations -
McCusker, J.J., and Menard, R.R., 2014. The Economy of British America, 1607-1789
Katz, S.N., 1976. Thomas Jefferson and the right to property in revolutionary America. The Journal of Law and Economics, 19
Teich, M., Porter, R. and Gustafsson, B. eds., 1996. The industrial revolution in national context: Europe and the USA. Cambridge University Press.
Taylor, L., Proano, C.R., de Carvalho, L. and Barbosa, N., 2012. Fiscal deficits, economic growth and government debt in the USA. Cambridge Journal of Economics, 36(1), pp.189-204.
Morriss, A.P. and Nard, C.A., 2011. Institutional Choice & Interest Groups in the Development of American Patent Law: 1790-1865. Supreme Court Economic Review
De Haan, J. and Siermann, C.L., 1996. New evidence on the relationship between democracy and economic growth. Public Choice, 86
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30 ноя 2019

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Комментарии : 2,4 тыс.

@EconomicsExplained 4 года назад

Thanks for watching EE nation! ❤️ If you enjoyed, please consider supporting the show on Patreon! 😎 See new videos early, participate in exclusive Q&As, and more! ➡️ www.patreon.com/EconomicsExplained

@thelegend3841 3 года назад

You missed slave labor.

@nobilesnovushomo58 3 года назад

Originally Presidents could run without end to terms, it was after FDR that term limitations on the US president were enacted. Not trying to be angry or oppositional "The US consumer market was due to wealth rather than what created it," Private industry of Rockefeller, Alexander Graham Bell, Andrew Carnegie, etc., are what built Gilded Age New York, the Woolworths Building was built by a nickel and dime chain that proliferated the trend that made it desirable rather than rude for someone to look through wares and buy nothing, in the hopes that you would tell others, or come back when you wanted to buy the specific wares offered. Even when the federal government was given the rights by Samuel B. Morse (the first telegraph designed for communication of messages rather than nuanced rail-signals or others... at least I believe) for the Telegraph, they actually lost revenue monthly. During 1845 expenditures exceeded six expenditure to one profit yield on the sole mechanism closest to instantaneous communication with numerous commercialistic applications, until congress turned the government telegraph company over to to private enterprise in which it finally gained money. The US had a national plan to attempt to build a functional plane under Theodore Roosevelt that flopped at a time when the Wright Brothers succeeded, and Burgess gained the rights to produce them, followed by other companies, Curtiss, Boeing (at the time Pacific Aero Products Co.). US Space Race was forcing technological progression in an industry with few commercial industries that had interest in the industry able to spend the amount of capital needed to succeed for the militaristic and defensive applications, today the equivalent amount of the US economy would be more than the US spends on the entirety of it's roads and Education system (which is ranked among the top first world nations in per pupil spending), however is only being made affordable thanks to SpaceX, a private space industry that may very well in the future become like the Boeing of space, supplying commercial spacecraft and government military spacecraft. Every industry in the US was built by private industry which only small percentages of which, usually already established in similar industries to the ones desired, were contracted or every government project funded through bonds and taxes which came from the livelihoods of perhaps more than 1 million business owners in a country of 50-100 million people... if not more. Everything in the US government was built by private industry, usually after it became successful. US was built on business.

@Rays_Bad_Decisions 3 года назад

You should learn about the American economic system and isolationism

@social3ngin33rin 3 года назад

"job-related injuries" lololol

@CreedofDarkness 3 года назад

Hey, EE, just wanted to reach out and correct something. Supreme Leader Washington did not set up a term limit system. This was an amendment added on later, and there have been numerous Prime Dictators who have had 3 or even more terms as Grand Chancellor.

@tylerthelen485 4 года назад

Well, Washington didn't set a 2 term limit. It was just tradition to follow in his footsteps and just do 2. This is how FDR got 4 terms as president. Nowadays, however, it is law.

@re_stricted 4 года назад

was just about to comment this

@ColonizerChan 4 года назад

Yup

@tysoncolette3176 4 года назад

He did make it a tradition though, which is a set up of sorts, but yeah, not super clear in the video

@LaFacedera 4 года назад

Nice profile picture and nice name bro

@keletsoa.botsalano4531 4 года назад

And FDR would've won all the next elections as well if it wasn't for 2 term limit :P

@Kevin-cm5kc 4 года назад

Can I add an important observation regarding stability? America is also geographically really protected from, well, everyone. During major conflicts like the world wars every major power was close enough to every other major power that they'd all take a beating in the war. Except for America. So while the rest of the world needs to keep rebuilding itself after conflict with neighbouring rival powers, America is lucky enough to dip into wars when and where it suits them. Or stay out of it if they so choose. It's got to make a pretty major difference to your economy if you're safe and sound everytime other economies are decimated and spending generations rebuilding the bombed out ruins of their former homes. Case in point: there hasn't been a war between major powers for about 70 years and so the countries that were devasted by war are recovering and catching up to America and diluting their influence.

@8kajetan 4 года назад

Another issue i find is that he mentions that USA has a wealth of resources, but that it isn't really that much of a factor and that it isn't that different compared to other countries such as Canada and Russia EXCEPT it really is quite lucky. Russia as you pointed out was in a constant struggle to survive being in Europe where most of the major world powers existed for a long time and having most of its important cities being on a geographically flat plain means constant worry of invasion and this fear really doesn't help the exploration of natural resources. Furthermore Russia is not a very hospitable place, much of its resources are located in the cold and untamed tundra which to this day has very few settlements in it, Canada faces the same issue the majority of its country is tundra and not easily exploitable . Now lets compare that to america where there is a wealth of plains, mountains and even deserts, and all of it uncontested by other world powers. Now saying that isn't an important factor for why the economy had developed so well is not looking at the full picture.

@wheneggsdrop1701 4 года назад

There has been a war between the USSR,USA,Egypt vs UK,France. Called the suez crisis.

@joshuahibbs4639 4 года назад

I feel like alot of missed facts and history in this video is forcing me to comment such as George Washington only allowed 2 terms of president when in reality that was just what most people served even if the law allows technically unlimited terms as FDR proved you can continuously get elected it took his death and a new law to prevent such a thing from happening again. He also didn't point things out such as the rich natural resources and actually the best farming land in the world with the best river systems in the world makes it the most productive farmland on the planet. Turns out it's very hard to get things from point A to point B but if you can float your goods not only can you carry about 13-15x more tonnage compared to on land but it's faster and cheaper and can be shipped to foreign markets directly. Honestly if you want a better version of this video I suggest watching Peter Zeihan's lecturers on either geography or "Millennial consumption" powering Trump's economy and foreign policy. Peter not only explains why United States is condemned to being a world superpower but also why America with new energy independence because of the shale revolution can go back to being a isolation type country.

@nunyabidness3075 4 года назад

Jordan Samaniego I detect moral preening here. Please educate us on the track record of pointless wars and also compare it to other countries in similar relative power situations historically. Please feel free to add if you have any sort of recognized credentials that add weight to your opinion. Or, feel free to admit you were just hating on the US and being anti war because you think those are good things to do.

@nunyabidness3075 4 года назад

jim bob, an excellent point. What seems unique is how the USA has strongly curbed its empire building ambitions while simultaneously footing the not so cheap bill of being the world’s police force.

@AJearth 4 года назад

Did you really call Washington "god emperor" lol.

@arvidbratt5156 4 года назад

Boxcarcifer wat

@kekw245 4 года назад

I think he's making a funny reference to the God Emperor Trump meme.

@johnhoo6707 4 года назад

@Boxcarcifer I think you just described the British empire, which ended up being a pale shadow compared to America's vast wealth.

@piyushvaidya5086 4 года назад

@Boxcarcifer go back to school ninja

@KrishnaAdettiwar 4 года назад

Boxcarcifer you might’ve just redefined the meaning of dumbass lmao

@lukeland6741 4 года назад

"America Didn't Do Colonization" Me, a Filipino: **Intense Sweating**

@paxshmitz2665 4 года назад

Liberated* as we do with the middle-eastern oil.

@french_2049 4 года назад

Atleast we went the Belgians my friend

@jackbharucha1475 4 года назад

That was not colonization. That was Freedomization and don't you forget it, citizen.

@OolTube02 4 года назад

You can also say the US expansion to the West Coast was colonial. But unlike the Brits the Americans had their colonies in their own back yard, eventually made them states, and they didn't present the logistical nightmare that an empire you needed a huge fleet to keep together did.

@koonkoon01 4 года назад

@oang245 h you need English lessons

@thedoruk6324 4 года назад

Has *anyone* noticed the music playing is: 'merica f*ck yeah! - I think EE was trying to redeem himself *after* he gave Alaska to Canada !

@RockSmithStudio 4 года назад

Thank you bringing this up 😂

@thedoruk6324 4 года назад

@@RockSmithStudio It is a prime meme 👍

@mattbowdenuh 4 года назад

Obviously the Russians sold their Alaskan colony to the British in order to keep it out of the hands of the Americans. Later it became part of Canada and is today a semi-autonomous province like Quebec with its heavy Russian speaking population... oh, wait

@appa609 4 года назад

He gave Alberta to America

@mattbowdenuh 4 года назад

@@appa609 Someone's been watching Peter Zeihan

@twinkiesmaster69 4 года назад

"Fair trail and AR-15" sounds right

@ColonizerChan 4 года назад

IDidntKnowTheyAllowed ANameThisLongForAttention *siiiiiiip* That space magic gun will jam on ya fast there sonny. Get yerself a garand like my pappy had used.

@jooky87 4 года назад

Trial not trail.

@garrettallen7427 4 года назад

jooky87 a fair trail is important to the American way, what are you talking about? Ever heard of the Oregon Trail?

@davidrapalyea7727 4 года назад

Yeah, I got a kick out of free speech and an AR-15! My concealed carry permit has expired but I have a Kahr P380, Keltec P3AT, NAA Black Widow Revolver and my favorite the Keltec P32. That little .32 has never had a malfunction and is smaller then my wallet.

@lotmyle5465 4 года назад

@@davidrapalyea7727 The NSA already knows your location.

@Robot_247 4 года назад

“Most countries today still get democracy wrong.” We still have democracy wrong lol. In Athens there was a reason they did not like people who tried to stay in the Council for too long. Here we are though... You go ahead and sit in there Senator/Rep long enough to forget what a normal life is like as you pass judgement from a completely detached position of reality

@jonomoth2581 3 года назад

A good democratic leader should see themselves as a manager with millions of bosses

@Nuvendil 2 года назад

Well, originally being a Congressman wasn't a full time job and didn't even pay a full salary. So it wasn't anticipated that you would have a class of politics-made millionaires living in DC.

@Robot_247 2 года назад

I never knew that thank you for enlightening me

@beausheffield1895 2 года назад

@@Nuvendil they still don’t make their money that way. Most politicians make money as lobbyists or writers.

@Nuvendil 2 года назад

@@beausheffield1895 not all their money no, but it is a six figure gig. And all that other stuff comes along with greatly expanding the power of the State. The more power there is in Congress, the m ore money will be spent to manipulate it.

@Patriciacraig599 Год назад

In this perilous time of recession, protecting your capital is much more important than making money. Basically because if you lose your capital, making money is much harder. ''Missing the train'' vs. ''losing your money''. There are a lot of trains, but if your money is gone, it's over. This is for stock holders.

@Robertgriffinne Год назад

Unfortunately, most people don't get this, the majority is after chasing tops/bottoms where they fail & get out of the game.

@instinctively_awesome8283 Год назад

Exactly the opposite. When things are bad and people are afraid, like you, you buy. When people are making money and getting greedy, you sell

@blackbirght 4 года назад

Idea for a future video: What does EU need in order to become United States of Europe and rival the USA economy.

@scroogietw6878 4 года назад

This would be very interesting

@Mira_linn 4 года назад

i mean the EU's economy is pritty mutch the 2 largest ecenomy as it is. used to be the biggest some years ago. however it is quite influential as it can dictate trading standarts and rules as is. however what the EU need to do to once agein become the biggest economy is mostl likely to use her soft powers to improve her southern regions with knowhow on tax systems and a massive development fond, if the southern regions chould evolve into the same power of their economies as france you whould come a long way.

@peterdisabella2156 4 года назад

@John King Your perspective is a bit cynical. Sure resources and cheap labor were a big help getting the US up and running but the system that was established had a large impact on the prosperity of the nation. Particularly, the early adoption of public education and the early investments made in secondary education which made the US workforce one of the most skilled for years.

@correctionguy7632 4 года назад

That idea is disgusting please stop

@daayemshehzad 4 года назад

Yes.

@NapoleonB 3 года назад

It's really weird to see a fair, unbiased perspective about my country's economics. Usually the talking heads at CNN and FOX News scream apocalyptic messages all day long that you start believing America is going down the drain. It's nice to see an overview of how far America has come, and why it's such a dominant economic force in the world. Thank you for this video! I really hope more Americans can watch this video.

@BigBoss-sm9xj 3 года назад

Agreed

@DivinesLegacy 2 года назад

Why do you guys talk about good things? If we talk about every bad aspect of the US we are more likely to fix it.

@crystalcat1002 2 года назад

@@DivinesLegacy Well of course criticizing America's system is the only way to fix it, and that's something these people recognize. But all of the negativity sometimes can be too much for people, and they want to look at the positives to make themselves happier.

@iamasteriix 2 года назад

Fair? Unbiased? Nah, I think you mean overly optimistic and uncritical

@prasanth2601 2 года назад

Exactly, people often underestimate the power of US and it's shear military and economic strength

@williamchamberlain2263 4 года назад

Also geographic isolation, far greater accessible resources than population, access to 4 continents, easy access to established markets/trade on 2 continents which _don't_ have easy access to each other.

@chottochotto7112 4 года назад

There is neither access nor resources by itself - the concerned humans convert useless into useful. Case in point - Venezuela. Stop trying to give away American success to bare nature alone.

@mattbowdenuh 4 года назад

Don't forget navigable waterways. Easier and cheaper to put things on a boat and float it through the Great Lakes or Mississippi.

@toffeesky6227 2 года назад

@@chottochotto7112 there's absolutely nothing special about the average american, vs the average citizen of any other nation. The USAs success is mainly from its extremely favourable geography and access to resources

@strafniki1080 2 года назад

@@chottochotto7112 stop stealing oil then

@tcironbear21 4 года назад

DUDE!!! You are WAAAAAY over dismissing the importance of geography and the starting sources of wealth in the United States. US has the most arable land in the world, the largest internally navigable river system in the world, a huge massive coast, a LOT of natural harbors, and so much of it is free of tropical diseases. Any nation built here was always going to be wealthier than its political doppelganger in the Central Asia in the long run. And the look at is starting sources of wealth!!! Farming! Fishing! Lumber! Etc. Most of these are all industries that spread wealth evenly and promote a large, healthy middle class. Do really the USA would not be like Latin America if there had been Cerro Rico in Massachusetts or Moluccus in Maryland? I am not saying what you said was not true, but the omission of these points paints you as someone who has only been educated in explanations for wealth put forward by neoliberalism. There are more reasons for disparity in wealth in nations other than democracy and patent law.

@joesterling4299 4 года назад

It was a happy confluence of many factors that made it possible. A huge one is the moral, psychological and cultural nature of the people in power during the country's formative years and expansion. Don't tell me that South America and Africa don't have vast resources. They just didn't get the correct mix of people to develop them at their full potential. This is just the first video in a series. Save criticisms on what he missed till the end.

@tcironbear21 4 года назад

@@joesterling4299 This is the part that covers the foundational causes of American wealth. Geography and sources of wealth is a foundational cause of America's wealth. His overall thesis is going to look very sloppy if he mentions the impact of geography in the middle of the discussion on the the policy choices that promoted industrialization. And I did not argue that South America and Africa did not have vast resources. I argue that they have the wrong ones for a successful democracy. Like for example. In New England in the 1700s the only sources of wealth were fur trapping, lumbering, fishing, and farming. All those forms of wealth were best be procured by individuals, small families, and small teams. That resulted in a society in which wealth was very spread out. A low degree of wealth inequality makes for successful democracies. Additionally it makes for leaders that need to listen. If your government's only source of income was largely voluntary contributions and taxes, you do what your community asks. Meanwhile at the same time. in Haiti the literal back breaking work of sugar production could be be done by dying slaves imported from Africa, and in Latin America the highly hazardous work of mining for gold and silver could be done by conscripting corvee labor from the natives and working them to death in the mines. These areas were actually had MUCH more wealth than the US, but it was much more easy for an elite to use military force to procure the wealth there. The end result was a society use to large oppressed underclass and small elite with the training and resources to keep on oppressing them. If you want a good video on why the US is rich, this one will do a better job of explaining it: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-9-4V3HR696k.html

@DeLunny 4 года назад

The importance of geography when talking about the US economy can't be overstated imo. Huge Pacific and Atlantic coastlines with warm weather ports, tons of natural resources of every kind, huge space for farming etc. etc. The US has undoubtedly the best geography of any country in the world, by a long way. If you were to pick any country's land to start your own nation you'd pick the USA. To say "other country's have resources" etc. massively downplays it.

@tcironbear21 4 года назад

@@DeLunny 100% agree, but don't underestimate the impact the starting kinds of wealth. If this country had been settled from west to east or south to north, it probably would be at least a few notches less democratic. The mineral wealth of the west and the cash crops of the south would have made for less robust democracy and educated population.

@DeLunny 4 года назад

@@tcironbear21 Interesting, I've never even thought about that

@SheetMusicBoss 4 года назад

Hey! I'm a fan of your channel and watch your videos often. I noticed you used our Team America piano arrangement at the very beginning but didn't provide a link in the description to our video or credit us. If you could please add a link and credit, that'd be appreciated. Thanks! -Andrew

@EconomicsExplained 4 года назад

Hi mate, huge fan of your videos aswell and oh yes this was a huge oversight on my behalf I absolutely will add this as soon as I get home today!!

@SheetMusicBoss 4 года назад

Thanks mate! Glad you like our vids. :D Keep up the good work. I enjoy your channel :)

@vvvvend3632 3 года назад

I'm a huge fan, wouldn't expect to see you here lol

@reitheinsolvable7380 3 года назад

This is wholesome

@royy9 3 года назад

@@reitheinsolvable7380 not really

@brianmo7763 4 года назад

I have a great respect and admiration towards the USA and it's people (not always their government) in spite the love-hate relationship it has always been involved in with my country, Mexico.

@EpsilonIndustries Год назад

American here, despite what some of our politicians say we're blessed to have you as our southern neighbor. Here's to a brighter future

@everburningblue 4 года назад

"The first successful transition of a democratically-elected government ever." Rome: "Am I a joke to you?"

@EconomicsExplained 4 года назад

Wasn’t very successful was it?

@everburningblue 4 года назад

@@EconomicsExplained was it not successful at least once?

@valentinli332 4 года назад

Rome was successful with democracy for a while. Until corruption, environmental calamity, foreign invasions, plague, etcetera broke it down.

@ELPCPU 4 года назад

@@EconomicsExplained Considering Roman Democracy duration is roughly 500 years, i call it that was successful democracy. Of course, at the end of Roman Republic, there were a plenty of corruption, misuse of rules, etc. Their landlord caused fundamental problems in Roman economy, which eventually lead to Roman Empire. And Empire lasted even longer than 500 years, but it went same process at the end. Every nation has rise and fall. Note 500 year period is longer than most dynasties in World history. Just Roman Republic falls at the end does not make it unsuccessful. Who knows after 250 years, U.S. will fall due to corruption? If U.S. falls within 250 years from now, are you going to say it was not successful? After 250 years, age of USA becomes roughly same to that of Roman Republic.

@tylerdurden3722 4 года назад

@@valentinli332 Gaius Marius broke Rome. And his nephew, Julius Caesar, took it upon himself to "fix it". The passing on of power was relatively stable since they had two consuls, and one could only hold office for a year, every 10 years. Gaius' military reforms, transformed the army from landowners as seasonal soldiers, to a professional army made up of mostly plebs. Soldiers were rewarded land after retiring. This and their pay was secured by their commander. In fact, these armies were sometimes raised at personal expense. They were more like personal mercenaries. So the loyalty of soldiers shifted from the state, to their commander. Consuls commanded the biggest armies. Thus, from then, personal rivalries were settled with armies.

@YusufNasihi 4 года назад

The US is on easy mode.

@decmod4644 4 года назад

RIP

@CraigVanderGalien 4 года назад

RIP

@FormerPessitheRobberfan 4 года назад

The USA made easy mode.

@zagreus1249 4 года назад

Rip

@patrickblanchette4337 4 года назад

Yusuf Nasihi And as an American.... I’m a-okay with that.😊

@alexryu8467 4 года назад

Man you are cranking out these videos! Each one so informative and entertaining!

@TrangleC 4 года назад

Will the Petro-Dollar-Cycle get its own episode, or will it at least be prominently mentioned in the next video?

@EconomicsExplained 4 года назад

It will be one of the core focuses of a video in this series.

@TrangleC 4 года назад

@@EconomicsExplained Ah, good. Thanks. It is shocking how many people never heard of it, even though it is probably one of the most important and world shaping economic mechanisms in existence and a huge part of the foundation the US and the world economy are built on. Especially when the Trump administration was new and there was all this talk about tariffs and how the USA is importing too much stuff, it would have been useful for more people to be aware of the Petro-Dollar-Cycle and what it actually does.

@robertwright4906 4 года назад

Boxcarcifer Slaves contributed little to the growth of the country. In fact, slave states fell behind. The real power and wealth of the US, the industrials north, had absolutely no reliance on slavery and in fact fought a major war to get rid of it out of altruism. America was built by Americans.

@patrickhenry4874 4 года назад

Okay chill there buddy we did kinda do a whole war to outlaw the practice and before America was even a country it was a bunch of colonies and it was Britain and other European countries who imported slaves to work on sugar can fields and other slave work and pretty much every other country before America has done slavery so y oh can’t say they’re evil for that but the fact that we went from a country with slavery to one of the most free countries in the world and the fact that we went to war to protect other countries freedom and liberties like South Korea and Germany from giants like the USSR and China kinda makes America a pretty cool place

@gaston6800 4 года назад

@@patrickhenry4874 America is also the country that is dominated by the Military Industrial Complex and the CIA who want endless war and to topple governments to put in puppets. Pretty cool place my ass.

@jamesodell3064 3 года назад

I would include the financial system set up by Alexander Hamilton shorty after the founding of our country. We were blessed with outstanding leadership in the early years of the United States. People who sought a better future for our county and were not in it for themselves.

@richadoemilia958 3 года назад

The government isn't paying the retired enough due to the present situation affecting the economy... I think the best way to earn a living is engaging one self in an online investment.

@morriselizabeth1484 3 года назад

I'm a retired nurse for months now and I'm yet to figure out a plan while staying at home, talking about bitcoin I think that should be a great idea.

@ericmorris4876 3 года назад

Investing in assets is the code for having a successful financial life, investing with the right company or software would free you from modern financial slavery.

@NicloasSmith 3 года назад

bitcoin is at 56k currently now, I believe it will raise up before the end of the month.

@waynebradley4444 3 года назад

@@ericmorris4876 and that's why 80% of millionaires today are investors.

@dimitrinatasha664 3 года назад

I would want to invest in bitcoin but it's difficult to understand the market.

@napoleonibonaparte7198 4 года назад

I drink every time you say England, rather than the United Kingdom, let alone Great Britain.

@leeoswald668 4 года назад

Oh, that time was no Great Britain, yeah???

@absolutetruth568 4 года назад

Napoleon I Bonaparte Hardcore Absolute Fact: USA economy is NOT ready to open up! Until ALL Americans have access to PPE ( gloves 🧤 masks 😷 and hand 🖐 sanitizers 24/7/365 year ) in all public places and inside all congested work places, IT is pure suicide to reopen the already fake monetary system / fake non livable wage economy !!!!! Hardcore Absolute Fact: USA economy is NOT ready to open up! Until ALL Americans have access to PPE ( gloves 🧤 masks 😷 and hand 🖐 sanitizers 24/7/365 year ) in all public places and inside all congested work places, IT is pure suicide to reopen the already fake monetary system / fake non livable wage economy !!!!! Hardcore Absolute Fact: USA economy is NOT ready to open up! Until ALL Americans have access to PPE ( gloves 🧤 masks 😷 and hand 🖐 sanitizers 24/7/365 year ) in all public places and inside all congested work places, IT is pure suicide to reopen the already fake monetary system / fake non livable wage economy !!!!!

@appleslover 3 года назад

Shut up frenchie

@dallyh.2960 3 года назад

@@absolutetruth568 shut up bot

@poopingbeaver 2 года назад

What a delightful set of understatements: 3:55 'politely asked to leave office', 4:45 'job related injuries' , 9:19 'export' 😏

@DecemberNames Год назад

Thank you for another great video mate. I enjoyed every second. Please keep it coming.

@TylerTraumavideos 4 года назад

genuinely love the content. good health and best of luck!

@afriendofafriend5766 4 года назад

If stability is good for an economy, then how good must the economy of Brave New World be?

@zxvadcsfbh 4 года назад

Oooh yes pleasw

@e7venjedi 4 года назад

Sounds like a good idea for a future video :-)

@Kaiser_Polaris 2 месяца назад

100/10

@Mr.Nichan 3 года назад

Even if wealth isn't the primary motivator for people to create, lack of wealth is often the primary motivator for people to not create and spend their time on something more likely to make money.

@B10401 2 года назад

Disagree. Lack of wealth leads to hard work and invention. In a society where the least likely to work hard and innovate are already sorted into the lower class, I could see why you perceive the opposite.

@jameswalker7899 2 месяца назад

A very nice podcast. Warmest compliments. Thank you, sir. :)

@dumdumbrown4225 4 года назад

Great video - looking forward to part 2!

@bozo6847 4 года назад

Seeing a UK video would be great, thx.

@samhirst2830 2 года назад

@Anurag Chakraborty A bigger economy doesn't mean better standards of living. California has 47% of the U.S. homeless population, 1/5 struggle to afford basic necessities, it has the highest poverty rate in the state of the union. The UK economy is far from perfect but we have nothing like that here. We also rank higher than California on the Human Development Index which is the biggest indicator for quality of life. fee.org/articles/california-has-the-highest-poverty-rate-in-america-why/ moneyandmarkets.com/white-house-report-homeless-california-housing-crisis/ calbudgetcenter.org/resources/new-census-figures-show-1-5-californians-struggle-get/

@coreymicallef365 4 года назад

1:38 Nothing particularly special about the starting position of the US, are you kidding? - More good ports on its east coast than the rest of the America's combined - The largest contiguous piece of temperate agricultural land (with really regular and favourable growing conditions too) for productive/profitable agriculture - The Mississippi river network and it tributaries almost completely navigable for shipping large amounts of freight with no need to build an extensive road network (the largest interconnected system like it in the world) making trade with the rest of the world ridiculously easy - A lot of flat easy/cheap/simple to develop land - A big and harsh desert between it and Mexico, its only early regional rival until it was beaten - An ocean between it and any other potential threats - Direct access to both the Atlantic and Pacific oceans to trade in - Started out with more land than they knew what to do with (and then kept expanding to the point of annexing almost all of the land worth having in North America, plus some) and started giving it away to anyone who'd farm it with really low barriers to entry for farming leading to massive immigration that gave it the world's 3rd largest population - Huge oil deposits and sizable coal resources to fuel industrialisation Some other countries might have some geographic advantages comparable to some of these, but definitely not to all of them, and a lot of those countries have some serious geographic obstacles to development that limits their economic size. 9:00 America didn't do what now? What the heck do you think that westwards expansion was if not colonialism? Just because there were contiguous to the initial territory of the US doesn't mean that settling the west was any different to setting up a whole lot of colonies.Let's not even consider the Philippines, Puerto Rico, Liberia, Panama, etc., or just the countries or regions that were simply economically dominated by the US. Also democracy (or rather stable predictable transfers of political power as is the point you're driving at in the video) and patents were neither invented in the US nor unique to it, or even unique in being practised at the same time.

@coreymicallef365 4 года назад

@@sonderweg9927 they annexed territory and established colonies populated with their own citizens. They had different names for it but it's the exact same thing.

@coreymicallef365 4 года назад

@@sonderweg9927 it really is a distinction without a difference. Pretending that the US' expansion was somehow distinct from the very same practices Britain carried out to establish the initial 13 colonies that formed the US is disingenuous at best.

@coreymicallef365 4 года назад

@@sonderweg9927 The only difference is the level of migration and the less dramatic shift demography (because there weren't a bunch of continent plagues killing ~90% of the native populations in Africa and Asia) in the colonised areas for certain parts of the Empire. But look at British colonies in Australia, Canada, New Zealand and the Caribbean, that's no different to the US' westward expansion (except the US was just very successful in attracting far more migrants to settle there). If you're referring to how land and sphere's of influence were just allocated be a negotiated European fiat like in the scramble for Africa, well the US did quite a lot of that sort of thing too in various dealings with France, Russia, Spain, Mexico and Britain for territory in North America.

@S3Mi87 4 года назад

"More good ports on its east coast than the rest of the America's combined" - Who built those ports? Natives, aliens? Who's keeping rest of the Ametica's to built the same?

@coreymicallef365 4 года назад

@@S3Mi87 I was talking about natural harbours, ones with minimal need for artificial modification to be usable for even large freight ships to use. Not every piece of coastline is suitable to build a high capacity port on.

@MotoFeeder 4 года назад

“Stability is the foundation of a good economy, and good democracy is a very very stable system.” Excellent point, as are all your others. You’re dancing around the central cause. Everything you attribute to US success stems from 2 remarkable attributes you fail to mention. The first is a very very low ambient level of corruption. Simon Bolivar copied the US Constitution verbatim and it didn’t last his lifetime. What’s the difference between Canada and Mexico (besides the US physically)? You have a video lauding the Canadian economy, but not the Mexican economy. A democracy is only as stable as it’s ambient level of corruption will allow. Couple that low ambient level of corruption with the 2nd attribute, and every feature you highlight as a cause of US econ success is made possible. That 2nd attribute is the frame of mind or milieu that you can do anything you like unless the government prohibits it. In Europe you CANNOT do anything whatsoever until the government permits it. Yes, many current American’s are trying to eliminate their unique milieu, but it looks like it may survive another Saeculum. This unique world view is of course enshrined in the Declaration of Independence. For the first time in human history, the individual was born with rights rather than the government being the source of rights, and government’s purpose is to secure those rights. Upon those 2 attributes are built all your “causes” of American econ supremacy. The ambient level of corruption is by far the most important. The US and Canada both share the same level, but Canada does not share our unique milieu of the individual (nor does Europe).

@cseijifja 4 года назад

The "unique milieu " is also present in LA since it's inception, the problem is that SA was a lot of the kind of richness that demans little cooperation to produce, just thugs with guns and a lot of cheap labor force.The Spanish system of brining in nobles to administer regions , stuck in many countries of SA up until the 60's , as fucking ridicoulous as it sounds , there were literal feudal lords in Peru up until the 70's, wich explains the lack of middle class in many of this countries, wich in turn explain the shit economies this countries have been having, until recently , that is, little by little this countries are advancing quite a bit , if they can stay clear of violent civil wars or terrorist movements in their advance (the revolt in chile is, actually, a very positive thing i believe, the spread of wealth is a necesity in a good functioning goverment) they got it , they can do it.

@honkhonk8009 2 года назад

Yeah i think you got a point. Im canadian myself. Alot of ppl here have family in the states so culturally, were really similar. compared to europe, were much more neo-liberal in thinking. We basically have the same thinking. Its just that ppl expect too much from the gov sometimes.

@jerrybi8400 2 года назад

United States has massive corruption and a heavily polarized politics 🙄 but they still are strong due to the free market economic system but this does not mean everything is alright. Wealth inequality is high in the US and the rich billionaires (and politicians) own more then half of the country's wealth. America is a Oligarchy which nobody recognizes as one.

@johnnyapoliyo421 2 года назад

All of you talk about u.s. economy as if it were always have been the same thing. Way wrong: It´s a fact that there has been a flip over after the killing of Abraham Lincoln, with the dawn of the Robber Barons. And the Fed act, finally set all pieces apart. It's over. America colapsed in 1971. (Rome also went on for a while)

@uchennanwogu2142 2 года назад

@@jerrybi8400 The USA is the 14th least corrupt nation. How is that corrupt? en.wikipedia.org/wiki/Corruption_Perceptions_Index

@juselara02 3 года назад

I love the book" Why nations fail?". They have a very interesting theory about the wealth of nations and the disparity between countries. Spoiler alert: It is all politics and political institutions.

@saadalameri 2 года назад

He states that it depends on inclusive institutions independent of political system

@davidthouvenin5839 4 года назад

This is a very informative. I am very pleased to see something American that informs, without an agenda, or Political slant.

@lajya01 2 года назад

The US has always the place of choice for immigrants coming from countries with few opportunities and high oppression. Being able to attract the best elements in the world is priceless for growth and innovation.

@antoniochiodi4183 2 года назад

“Best elements of the world” is an overstatement

@markyuto6820 2 года назад

@@antoniochiodi4183 Your brain is an overstatement.

@markyuto6820 2 года назад

That's one of the reasons.

@ascaron007 4 года назад

Great channel! I watch every video! Greetings, Tim from Germany!

@JB-ue6lf 4 года назад

People from other first world countries love to watch videos from this channel to have their egos stroked, but when one is made about the U.S it's turns into a god damn mosh pit in the comment section.

@BigBoss-sm9xj 3 года назад

USA!USA!USA!

@verykittypretty 2 года назад

europeans hate americans for whatever reason

@footballuniverse6522 2 года назад

@@verykittypretty we dont hate them, just love making fun of the dumb obese ones

@abrvalg321 4 года назад

3:16 there were no term limits till FDR 3:28 ever lol, greek policies, Venice and other republics don't cound But the real reason is: there were no wars as devastating as in Europe.

@abrvalg321 4 года назад

@VictorHN did slaves left any significant mark on US economy?

@kappadarwin9476 4 года назад

@@abrvalg321 Slavery actually hindered the southern economy, a wealthy slave owner can have their slaves make goods at lower prices out competing local businesses, increasing the wealth gap. The wealthy slave owner would then use their money and influence to try to get laws passed that favored them. Slavery is a blight on an economy not just morally but also economically.

@Mormielo 4 года назад

I am wondering when he'll mention that not having two world wars in the 20th century, one of which was really devastating, might have helped too.

@marodriba 4 года назад

VictorHN Its a multi part series. He might mention it later...

@shadowyshadow6498 4 года назад

"But the real reason is: there were no wars as devastating as in Europe. " Lol most if not all of Europe's major powers that are left have slower growth than the US by a large margin, and they haven't had a war in 70 almost 80 years now. I wonder in 2050 when the European economies are still far behind the USA if you'll still be throwing this excuse out. The real reason is that the US let capitalism flourish and established its reputation as "land of the free" which made immigration and productive labor come from countries around the globe en masse. Combine that with large swaths of habitable land, some good resources, and you have the American dominance which we see today and through a good chunk of important history.

@gebys4559 4 года назад

US has a s supreme geography, access to both oceans, located halfway between pole and equator, Mississippi for inland transport, two neighbours that can't really offer a challenge and a desert separating form the southern one. It's also a isolated fortress away from most conflicts so whatever they spend on militarily can be used offensively to project their power. US could have been a theocracy and would still be a great power, democracy only helps.

@luuchoo93 4 года назад

gebys I disagree, democracy is a key element, since the system allows citizens to carry on with their lives knowing they get to vote and change the government when necessary. The US became the first modern democracy in the world when most countries where monarchies fighting their people or colonies. That political stability and strong institutions allowed it to grow non stop, while others faced turmoil and revolution.

@MishaFlower 4 года назад

I agree with luuchoo, The colonies were divided after the war of independence, Democracy and Washington's influence helped it stick together.

@gebys4559 4 года назад

@@MishaFlower or railway and postal system did it, take your pick. countries don't need democracy to become unified, especially in the early days of development.

@MishaFlower 4 года назад

@@gebys4559 I don't think you understand, Several colonies wanted to separate from the union after the war, Especially after the articles of confederation were abolished undemocratically and concerns rose up about the legitimacy of the new federation. It wasn't caused by a lack communication.

@christodang 4 года назад

I think it definitely played a major role but it’s one of the factors that went right for the US. Geography (aka isolation), general political stability/no monarchy, starting from scratch (so more fluid class system) all helped the US continually grow since it’s inception

@Ember-Rodriguez 4 года назад

Thanks for this!

@stevenjohnston7809 Год назад

Awesome thanks for the video.

@BoraCM 4 года назад

3:25. The UK has had continuous parliamentary democratic elections since 1660. Edit: And there were parliaments assembled before that, with the Convention Parliament being the first to have no allegiance to the king, the first 'free' parliament. Another general election was held the next year as well, in 1661. There weren't political parties involved in the elections until 1685, however, both with roots back to the 'Roundheads' and 'Cavaliers' of the Civil War. The last time the country was ruled personally by the monarch ended in 1640, when the 'Short Parliament' assembled. Ever since then, the country has been continuously been run by parliament. The Long Parliament, which lasted for about 20 years until 1660, which faced almost dissolution by the New Model Army, eventually voted for its own dissolution in 1660, when elections were held across the nation for it to assemble. I am sorry if I have 'glossed' over some points of it seems rushed, because I am busy at the moment and have borrowed my mother's laptop, which has an incredibly inconvenient keyboard with a caps lock button that doesn't work. If you can tell, I really don't like MacBooks, or any variant of them. They are simply confusing and difficult to use, with me constantly typing up several things, like how to scroll down, how to right click, how to see the different windows etc.

@josephhesse2634 3 года назад

Man, I love these vids

@mattbrody3565 4 года назад

The US really grew because of a mix of various resources and a wide-open market that allowed various possibilities to be pursued. From that perspective, and considering the variety of what the US economy offers, it's really only a monolith from a macroeconomic standpoint. I'm no economist or economics student, but to reconcile the different perspectives on economies, you can look at a macro-scale economic system as an aggregate of micro-economic systems, just like a biome in nature is the sum of the organisms living in it. The US economic "biome" is thriving because its constituents have fewer restrictions to their ability to "survive" or thrive. From a macro standpoint, the larger the transfer of materials in the system, the better. From a micro standpoint, frugality is king. The common thread is efficiency, which takes vast effort that is best enticed by the need for such efficiency to thrive, rather than a simple request for it. That has been the economic example of the US for 200-ish years, but has fallen apart a little bit over the past 60-70 years as expanded regulation have become commonplace. The way the US economy incentivizes people to participate is because the lack of a "social safety net" means that to keep the system from collapsing, constant business efforts need to take place. This means (or at one time meant) that by not using taxpayer money to subsidize the economy, the economy MUST stay productive enough on its own to avoid failures and inherently requires good management. This fell apart with the widespread adoption of credit, or "money from the void" as I like to call it- spending money that does not exist, creating a deficit on the assumption that the deficit will be replenished later with other money. This is an assumption that leads to a collapsing economic model if it fails, and this was not well understood nor well conveyed leading up to the Great Depression. From there, the road to recovery was basically economic CPR, which has set the example for expanded government intervention in economics, which may have begun to cement certain ineffective attributes like a stagnant University system and further mainstreaming of credit and loan systems. Prior to the Great Depression, the economic "biome" was more diverse in terms of the number of different individual businesses and firms, and it worked healthily when restricted by the availability of resources. It's now the biggest economy in the world not because it's a healthier ecosystem than before, but because the remaining constituents are strong and healthy... ish. The expanded regulations keep these large constituents restricted, but also have the side effect of reducing market competition and limiting the number of new options to pursue. This is starting to show when considering new experimental technologies, like the delayed research into advanced Nuclear systems that could revolutionize raw material processing and energy. The majority of US socioeconomics is based around a limited restriction approach, specifying the things that are not allowed and leaving everything else to the discretion of economic participants, while the trend today is leaning more and more towards a limited permissions approach, where something cannot be pursued without permission and paperwork. It's an unhealthy trend, but it's an uphill battle to avoid.

@spaceboi231 4 года назад

5:32 That image is the cover of my copy of Capital: Volume One

@khizarkhan4250 4 года назад

Washington never set the 2 term limit. He just chose to leave office after 2 terms, and many after him followed that example. FDR spend 3 terms in office, from 1933 to 1945, and in 1951 the 2 term limit was put into law.

@thejquinn Год назад

*4 terms, died one month into his 4th. Also the 22nd Amendment was veto proof so even if Truman wanted to try and block it the bill, it had 90% of Congress behind it.

@agbottan 4 года назад

2 reasons: First World War Second World War

@joesterling4299 4 года назад

In which America would have floundered if it hadn't spent the better part of 2 centuries building a solid economic and industrial foundation.

@agbottan 4 года назад

@@joesterling4299, I agree.

@Abdega 4 года назад

Reason 3: The internet

@lacdirk 4 года назад

Actually, the first WW showed that the US could have fallen back into relative unimportance. The main reason for a change: the cold war.

@lacdirk 4 года назад

@@joesterling4299 It didn't. It expanded into the largest part of the world that was uninhabited but perfect for modern agriculture and industry. It was the most successful ethnic cleansing in world history, leading to a relatively homogenous country. Most states never developed a separate identity. That meant that conflicts were relatively minor. When this started changing in the late 20th century, the federal government ground to a halt. It hasn't recovered, and has simply gotten worse ever since.

@hr2079 4 года назад

Good work dude !

@thecristianperspective2416 4 года назад

I love your videos! It would be amazing if you could explain the Economics of China next!

@EconomicsExplained 4 года назад

It’s on the plan but that is going to be another video series, just because there is so much to talk about.

@axb6061 4 года назад

Yes! It’s incredible how patent laws are under-discussed in historical, economical and democratic videos. I haven’t heard or studied this in any school before, but as a history buss I often ran into the idea that my home Sweden also largely owes its stability to patent laws.

@joesterling4299 4 года назад

The problem is that they were written before computers and the internet. Software patents are the single greatest threat to innovation in the modern era. They were granted without a good understanding of what is and is not obvious in programming, and a patent applicant doesn't have to build a complex piece of hardware to get his patent approved (since it's software). It's too easy, and too-easily abused. They have proliferated to the point where everyone is suing everyone who tries to come up with something new. Ask Apple, Intel, and Fortress Investment Group.

@cseijifja Год назад

There are patent laws in many other countries tho.

@greatwolf85 4 года назад

For a video that quickly covers how the USA rose to power from inception to roughly the early 1900's I think the USA-Mexico war should never be left out. It pretty much doubled the size of the country in just two years and it gave it access to precious metals, minerals and secured Texas too.

@lymphe 4 года назад

Dude, how can u produce so many videos in such a short amount of time and still hold a certain level of quality? 😅

@prabhavmathur 4 года назад

He does not have to animate or do any camera work. So recording his voice and putting stock pics together is a bit easier.

@EconomicsExplained 4 года назад

@@prabhavmathur pretty much to be honest, I want to get to the next level of video quality here but for the most part most of my time is spent researching these topics which I do for fun anyway haha.

@prabhavmathur 4 года назад

@@EconomicsExplained LOL it's fine, I'm not complaining. Rather I like channels that upload frequently. Keep up the good work :)

@doid3r4s 4 года назад

"certain level of quality" is an understatement. His videos are very well thought out and have great presentation. Amazing indeed.

@hotephousing4197 4 года назад

@@EconomicsExplained Not one mention of SLAVERY??? The economic ramifications were paramount to the USA becoming the largest economy of the world. Can't take this channel seriously.

@elaynepringle5963 3 года назад

Did not know that you were in hospital, Happy that you are out and feeling better.

@phannhan2024 4 года назад

Personally I think the greatest credit for America's economic success has to be given to it's geography. For most countries, one can only has so much advantages on where they stand, large, isolated, resources-rich, high percentage of arable and habitable land, moderate and pleasant climate, biographically and geographically diverse, easy access to the world, huge systems of navigable rivers, long natural coastline, and most importantly, surrounded by weaklings and far away from the big guys,... Yet all of said advantages can be attributed to the US's geography, with virtually no flaw. It's just not exaggerated to say that the US hold the top position of the world only for where it is, let alone anything else

@JanjayTrollface 4 года назад

Washington started a tradition, he didn't set a limit.

@theAppleWizz 3 года назад

Look at the 22 Amendment not a tradition anymore.

@jameslarkin4567 3 года назад

@@theAppleWizz Washington didn’t add that amendment did he buddy?

@Dommy521 4 года назад

guys we need to join his patreon quality is so impressive

@subhammallik7816 4 года назад

Very informative

@AK-forty-seven 4 года назад

Great video, cant wait for the next one.

@EconomicsExplained 4 года назад

Thanks mate stay tuned :)

@ComradeGiru 4 года назад

"Not through conquest or exploitation"... Give me a break

@shadowyshadow6498 4 года назад

Actually mostly true to be honest. Mostly thought settlement, which was different than say the British conquest of India, for example. The US settled and then claimed the land was rightfully theirs legally, which is probably the best way to expand if you need to do it.

@redpotato2585 4 года назад

@@shadowyshadow6498 yeah lets just ignore the native americans they had to uh.... Relocate

@shadowyshadow6498 4 года назад

@@redpotato2585 Yeah, many of them did... your point?

@royronson3275 4 года назад

Red Potato not a lot of natives in North America in that time, mostly just disjointed, scattered tribes often battling among themselves. The vast majority of Natives has lived in central and South America and who had mostly been killed off by the the Spanish.

@cseijifja 4 года назад

@@royronson3275 again , a lie, they died due to sickness, the US agreesively murdered the shit out of the natives still living in the west frontier, backstabbing and encroaching into their territory every time they saw fit. Case in point, in SA , many countries have an overwhelming native populace majority, the natives of USA are kept in zoos around tiny , useless plots of land in the country.

@hapemokenela7388 3 года назад

Man, i love this channel.

@John-nd7il 2 года назад

An overlook portion of the westward expansion, was the obsession with creating communication and transportation means along the way. There were plenty of big places at the time, but most of them were not very well connected internally for industry. Two big mountain ranges on either side made this a challenge, but it was definitely worth it

@danielabetts 2 года назад

The USA has two principal differentiating factors that have underpinned its success: 1. A general respect of the law, which allows dispute resolution (at least by the middle class and rich). This results in true protection of the business of innovation and invention. If Innovation is wildly profitable it becomes a business that everyone with means wants to be involved in. Ideas are cheap to produce and cheap to protect (comparatively), thus the business of innovation creates upward mobility. 2. The US has no real single national identity and it is a country of immigrants. This has kept the population of the country growing and labor relatively inexpensive. The US does not become affected by a demographic bubble and it’s openness to complex cultural mixing breeds creativity, which couple with (1) leads to extraordinary products and services that are ever changing and adapting. There are of course other factors, like certain freedoms and democracy (sort of), but these are not unique to the US. Note that factor 2 is common in the Americas, but factor 2 is not.

@mattbowdenuh 4 года назад

Can't wait for the next parts :) Hope you cover the post-war Breton-Woods system that underpins today's global economy.

@jonathansanchez8802 4 года назад

Great videos.

@seendoo8393 4 года назад

Amazing video!

@EconomicsExplained 4 года назад

Thanks mate glad you enjoyed :)

@seendoo8393 4 года назад

Economics Explained ❤️

@mtwata 4 года назад

I'd love to see a video on the economics of the US military (how much they spend VS how much they make out of it)

@HBKJester 2 года назад

we get freedom out of it, and so do the free european countries, without the united states europe would be a communist continent by now

@ilikedota5 4 года назад

@7:02 You confused article 1 with the 1st Amendment. The Bill of Rights were in part, a political compromise that happened later, as opposed to part of the grand plan.

@eGToastyRecording 4 года назад

This is the only fun economics channel on RU-vid

@devendrabaskey1 4 года назад

I love your work

@sundeepprakashjaiswal9551 4 года назад

Please do it for China 🇨🇳 too! Good to know the insights on the USA. Keep doing good stuff, good luck.

@Bobelponge123 4 года назад

Sundeep Prakash Jaiswal China will fall India is better in Asia lol

@sundeepprakashjaiswal9551 4 года назад

@@Bobelponge123 inshallah

@Bobelponge123 4 года назад

Sundeep Prakash Jaiswal what

@sundeepprakashjaiswal9551 4 года назад

@@Bobelponge123 indeed!

@andrewevans5750 4 года назад

team america, nice bro. either you have the best music choice or I am drunk.

@weezywilson6409 2 года назад

Soo proud to an American never knew how lucky I really was❤️🇺🇸

@herbertant4096 2 года назад

Me too brother !! 🇺🇸🙏🏽

@kentonbenoit9629 2 года назад

Canadian here who is always been fascinated and holding myself firmly against the glass" looking in 😌

@kentonbenoit9629 2 года назад

Thanks plenty big bro 😎

@hermeslein6614 2 года назад

@@kentonbenoit9629 canadians hates Americans at least you have free healthcare

@kentonbenoit9629 2 года назад

@@hermeslein6614 i do not hate Americans AMERICAN Is my favourite country for many fundamental reasons.

@Jjjkluejnek 3 года назад

I LOVE YOUR CHANNEL ❤️

@donaldpetersen2382 4 года назад

Part of the US initial success was due to profit of trade which involved slavery. I would counter the argument that America was not built upon an empire, because it was. An empire of slaves was Americas economic foundation

@shadowyshadow6498 4 года назад

The vast, and I mean vast, reasoning of America's economic success had little to do with slavery. Firstly because America's economy really took off after slavery ended, and secondly even when it was in use the majority of America's economy was from the North's industrial output, not the south's agrarian cotton.

@kingsosa8671 4 года назад

@@shadowyshadow6498 Free/cheap labor for hundreds of years tends to be more profitable than the buying and selling of human beings

@ricchburglar 2 года назад

Thanks a lot for this series. It would be awesome if you could make videos about how to improve economies. Let's start with my own: India🇮🇳 🙂

@phillipotey9736 4 года назад

It was july 2nd, George could not have become king, term limits were not a thing until way later... but I understand the confusion and the need to be concise. Great video!

@emlillthings7914 4 года назад

Why colonize, when you can just place a military base, to ensure equivalent exploitation, via corporations

@tomgraceffa4401 4 года назад

it doesn't make sense lol

@chottochotto7112 4 года назад

I see that's why the poorest regions of the world have so few corporations and us military bases - because they are free of "exploitation". Thank you for your deep insights.

@emlillthings7914 4 года назад

@@chottochotto7112 let alone being virtually the only nation that situates permant bases on foreign soil, around the globe, direct military action is rarely needed due to its economic dominance. The clear fact that financial power is consolidated around either a US corporation, or that of a client state, tends to explain why the world is as it is for many of the poorest countries.

@nachannachle2706 4 года назад

Spot on, mate!

@edgarwho 4 года назад

Idk if you're being serious but all these countries agreed to many of these bases. Especially the NATO related bases. It also strengthens alliances and communication between the US military and other militaries that will likely be our allies if a war comes. All bases are placed in strategic locations not for economic gain. If the US isn't there other countries militaries will come in. Just look at Russia and the middle East now that Donald Trump has basically pulled out of Syria. To be honest I would rather have a US base than a Russian or Chinese one.

@kosta4063 4 года назад

Could you do a video about the Economy in Germany

@johnmraz4332 4 года назад

3:20 Heads up. George Washington didn't set up a 2 term limit. Just the precedent. Presidents could have more than 2 terms. Most just didn't. The 2 term limit wasn't codified into law until 1951

@BloodRider1914 4 года назад

It's all agriculture. American agricultural practices focused on food, not cash crops (except in the South, but that's a case in point). This allowed for consistent food surpluses, combined with decent management, allowing for an actually pretty well executed industrialisation.

@charnalking 4 года назад

Many of the factory owning class in industrial age Europe where not landed gentry, this is actually where the term "nouveaux riches" comes from. In addition there was an exploding middle class and a wealth of innovation, with many of the technological and scientific achievements occurring within Europe. There is one clear turning point which led to the supremacy of the USA, war. The wealth of the USA DOUBLED over the course of the first world war whilst Europe was ruined. Being able to not be invaded or bombed, joining wars late on, and bankrolling/supplying the participants at huge profits was a winning formula for the US in both world wars.

@pimp22fly 4 года назад

In 1776 the US was literally an oligarchy

@paxshmitz2665 4 года назад

Republic ,Oligarchy what's the difference

@abrahamlincoln9869 4 года назад

It still is

@paxshmitz2665 4 года назад

@@abrahamlincoln9869 Yes of course because that's the definition of oligarchy we're just like China and Russia .

@calebhoward9555 4 года назад

To be fair it's the best anyone had at the time.

@st3llarmemer111 4 года назад

No it wasn't, it became somewhat oligarchical but back when they founded it, it was very not oligarchical.

@Manos_P_ 4 года назад

Hey, it would be nice if u make a video about patents and why is an obstacle now for science instead of something to boost the technological progress :)

@theknight4317 4 года назад

Ok, I am subscribed.

@DangRenBo 5 месяцев назад

I'm only at 1:30 now, starting the "How did America get so wealthy" section, but I want to predict something similar to "How Geography Made the US Ridiculously OP" video, which was one of my favorites from 2023 and which I recommend to everyone.

@098vladik098 4 года назад

can you do a vid on Russia?

@kappadarwin9476 4 года назад

Russia the Putin Economy

@Bamiyanbigasf 4 года назад

I can sum it up... Russia has the potential to be one of the biggest economies in the world but Putin made it a military state and allocates a lot of its assets towards the military instead of his people thus making Russia the wealthiest shithole but Putin is responsible for most of Russia’s modern success

@098vladik098 4 года назад

@@Bamiyanbigasf i am aware of that because i speak Russian myself. I am actually more curious of what Russia could be had it put all the resources to work for the economy and not a handful lf wealthy people.

@Horible4 4 года назад

@@Bamiyanbigasf I'm a person that really pounds the gavel that Russia will forever be a mediocre economic power, and I don't think that comment is really fair. Sure, the money could go elsewhere but Russia has never really ever been a rich country to begin with. The problem stems from Putin wanting to get into an arms race with the United States it simply cannot win (see this video series as to why they will never have the money to keep up). Despite what Putin would tell you, he wants Russia to remain relevant as a superpower and pours a substantial amount of money into military weapon platforms that are hopelessly outdated and that they could never produce at a high enough level to be any threat to the United States. All Putin has to do is invest in its Air Force and it will be more than capable of defending itself from attack. Putin wants to go beyond that and has effectively shot his own country in the foot by invading Ukraine, resulting in sanctions that only worsen their own economy. Also stability in Russia is less than ideal, with Putin turning the country more into a monarchy by the week. The Russian people are no longer free, the government outsources work through slave labor in the Siberian landscape, and the government constantly tries to snuff out any political opposition to keep their people in office. Russia is entirely fucked for at least another hundred years.

@aroundtheworld2316 3 года назад

I've lived in Russia for a while, the place is corrupt to the core... oligarchs and Putin's cronies have sucked that country dry... largest resources in the world but a living standard below that of even Romania.... it's sad!!

@mingming9604 Год назад

US is not without negatives but they did get a lot of things right!

@troy2083 2 года назад

I like how the piano melody in the beginning of the video sounded like "America F*** Yeah" from the Team America movie

@abhisheklagad3694 4 года назад

You edit well.

@chrisloftus817 4 года назад

Can you make a video on the economics of immigration? Especially how it affects lower-income/education workers and communities. I think it would also be interesting to delve into the economics of economic nationalists, like Steve Bannon.

@owenbunny4023 4 года назад

i think immigrantion affect less to the job market comparing to outsourcing. even illegal immigrants have a lesser effecr

@vetabeta9890 4 года назад

Why can't there be a video that mentions America without people in the comments trashing it and its people

@ddcplayergames2370 4 года назад

anti americanism

@GenericInternetter 2 года назад

One (of many) reasons why Brazil has not had the same success is geography. Brazil's terrain is notoriously difficult to build on. The ground is mostly uneven, with plenty of hills and mountains. Furthermore, many areas of Brazil's ground are composed of soft, red mud. Construction of roads, highways, and buildings is a nightmare. Landslides are commonplace, and potholes appear like flies. These issues make industry and logistics extremely difficult.

@Tuppoo94 4 года назад

Nice background music :D

@Saitaina 4 года назад

"Politely asked to leave office..." "Why is my throne on the front lawn, Susan?!"

@Ark--fn8my 4 года назад

Just a question, didn't FDR run for presidency for 3 time and won all of them? yet at the beginning you said Washinton established 2 term limit for presidency

@alexanderarden2152 4 года назад

Stability and economics explained, named a more iconic duo!!!

@Simon-fw1qi 2 года назад

3:16 correction: The two term limit for Presidents was only enacted after the 4-term Presidency of Franklin Roosevelt, in the late 1940's.

@EpicPornBot420-69 4 года назад

Do economics of Evo Morales!

@motosin1083 4 года назад

4:22 When I'm alone at home

@andycockrum1212 3 года назад

3:17 we actually didn’t have official term limits until after FDR. Washington just thought 2 was enough and quit voluntarily. Every president after him followed this tradition of not holding onto power until FDR, then they made an amendment turning tradition into law