The Surprising Benefits of Corruption in the Economy

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We all know that corruption is a bad thing. People in government or the public sector using their position to personally enrich themselves is a form of stealing, but in some situations this can actually help to grow an economy. But in what situations, and how long can corruption continue to grow an economy once it becomes more developed?
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15 май 2024

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Комментарии : 909

@EconomicsExplained 5 месяцев назад

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@TheCertifiedLegend 5 месяцев назад

@glenngilbert7390 5 месяцев назад

I like both the short and long bideos

@heavenandhellcat8054 5 месяцев назад

I prefer the long form videos honestly, but if you just want to do a quick dive on a one off that’s fine. I know short form is easier so it’s just what I don’t want to see is the long form output suffer

@heavenandhellcat8054 5 месяцев назад

I think a very interesting point that wasn’t examined in this corruption video is internal verse external investment growth with regards to corruption. In my personal experience and observations corruption is devastating for internal development. It prevents any honest competition and there’s virtually no entrepreneurship and innovation as those simply can’t survive in a corrupt society. On the other hand I think corruption can and is often very beneficial when it comes to outside investment in poor nations. Companies building cheap labor factories can do so quickly and cheaply bringing in tons of money and development. However, once an economy/nation moves past that incredibly poor status to upper poor or middle class it’s no longer as profitable for the outside investment which dies off. You then need a fair and open field to allow for entrepreneurship and innovation to move from mid to upper class/first world. So what you find is corruption can move you up from poor nation if there’s outside investment (it can’t be done internally), but corruption will always prevent a nation from getting past the mid point and it will always drag them down.

@leapdrive 5 месяцев назад

Is China’s economy built on corruption? What kind of question is that? Today’s China is all about corruption. The danger of ignorance cannot be underestimated, and education should be defined.

@allgoodnamestaken2 5 месяцев назад

"corruption at all levels...according to some economists - might even be an instrument for the common good." I get the feeling that these economists should have their finances audited, not for any particular reason.

@alansteyrbach6926 5 месяцев назад

I speculate that corruption is in reverse corelation to the quality of governance. Corruption essentially is a paid avoidance of normal, sanctioned procedures. Corruption to countries is what Laziness is to a humans. If you are financial analyst or freelance software developer, being lazy drags you down financially. If you are alcoholic, being lazy to go to store for a drink drags you upwards in life. Many legal laws and penalties in poor countries are designed to milk the very little productive industries and businesses the country has. Avoiding this with a bribe allows to keep more money in the hands of those little who do something good for the economy.

@EconomicsExplained 5 месяцев назад

🤣

@WanderingExistence 5 месяцев назад

This is a problem with neoliberal thinking that maximizing profit and GDP is necessarily good. They will destroy democratic institutions so large shareholders can make more money.

@DOSFS 5 месяцев назад

Ayo, you wouldn't say... 💀

@benchoflemons398 5 месяцев назад

@@WanderingExistence that new liberal thought is the reason that you can type this comment on RU-vid.

@Septumsempra8818 5 месяцев назад

"Grease the Wheel" dilema. At first corruption allows businesses to move fast (jump the queue), but eventually the administration expects a bribe and thus you need to pay to be in the queue. 🇿🇦🇿🇼

@leolucas1980 5 месяцев назад

Great! In a few words, you expressed an idea that I couldn't express in many paragraphs.

@recoil53 5 месяцев назад

There is also the inverted tactic of using bribes to keep competitors/competing innovations out.

@Septumsempra8818 5 месяцев назад

@@recoil53 Competing innovations have to be backed by money. If a startup or someone with low economic leverage innovates, they get crushed then copied. That's why the most corrupt people in corrupt nations are multinationals.

@Eckskalibur 5 месяцев назад

The Disneyland fast pass dilemma!

@deohenge1865 5 месяцев назад

Didn't expect to find an explanation of GrubHub and DoorDash here...

@saltblood 5 месяцев назад

man, if only people were open about their corruption so these poor economists could properly track them, everyone is working against these poor economists

@fort809 5 месяцев назад

The funny thing is they ARE open about their corruption. -Bribery- political lobbying donations are public record by law, in America at least

@Illusion517 5 месяцев назад

It's also worth pointing out the heavy correlation between corruption level and economic level... In the ICRG graph you showed, the countries on the least corrupt side were also majority Advanced economies which tend to have a lower growth rate than developing countries. That seems like a much more likely reason for the correlation between corruption and growth to me.

@chefnyc 5 месяцев назад

Advanced economies codify corruption under “campaign financing”. I would call all US laws made by banking industry, auto industry, big pharma all corruption.

@MsJubjubbird 5 месяцев назад

True. It's like saying people who exercise lots don't lose much weight compared with people who start exercising moderately. Therefore, lots of exercise must not help you lose weight. Chances are people who exercise lots are already slim and so there is less weight to lose.

@user-je3sk8cj6g 5 месяцев назад

Lying with statistics. Classic economicalism.

@davidk.d.7591 5 месяцев назад

He did say that though

@Homer-OJ-Simpson 5 месяцев назад

@@MsJubjubbirdthat’s a great analogy. The video does mention this problem at the end but seems to just quickly go over it

@PakBallandSami 5 месяцев назад

“No matter how corrupt, greedy, and heartless our government, our corporations, our media, and our religious & charitable institutions may become, the music will still be wonderful.” ― kurt vonnegut,

@MarktYertd 5 месяцев назад

yes

@hieronymusbutts7349 5 месяцев назад

*Cars4Kidz has entered the chat*

@jacobzindel987 5 месяцев назад

...that was written before mumble rap

@rbn1111 5 месяцев назад

what does this mean?

@SA2004YG 5 месяцев назад

@@hieronymusbutts7349 I understood that reference

@souravjaiswal-jr4bj 5 месяцев назад

One of the reason that wealthy countries have less corruption is officials are getting good pay and enjoy middle class standards. People will think twice to commit a crime when there is a risk to lose their comfortable, stable life.

@hieronymusbutts7349 5 месяцев назад

As well as higher rates of independent auditing, making it harder for officials in government to cook their own books.

@kekero540 5 месяцев назад

We don’t have less corruption they are all just corrupt to the same people. So there is no reason to call them out from other politicians.

@WanderingExistence 5 месяцев назад

Or you just don't call it "corruption" and label it "lobbying"... Now there's much less corruption, problem solved.

@SangoProductions213 5 месяцев назад

You say that, and yet we've got billionaire politicians on middle class wages. But there's no way the Clinton Foundation could ever be used for cleaning money. Hmm. Strange how all the career politicians seem to have their own "charities" that get huge donations just as a certain deal goes through. That's... probably coincidence.

@hieronymusbutts7349 5 месяцев назад

@@WanderingExistence this is also a problem, yeah. I see this as more of an issue for unelected officials though: I can see an argument for lobbying representatives, but lobbying appointed officials (like in the FDA) I can't see any reasonable justification for.

@alfredragnar9387 5 месяцев назад

Hard no. You could talk about countries that have a strong economy DESPITE the corruption, but corruption is never a positive trait.

@badluck5647 5 месяцев назад

In countries like Libya, Somalia, and Afghanistan, the government can't afford to pay their workers enough to preform basic services. Bribes have essentially become frees to get government officials to do their jobs. It almost like privatizing government services in the worst way possible. It is not a great system, but the alternative would likely be zero government services.

@patricko9479 5 месяцев назад

Have you seen the video?

@moonshot3159 5 месяцев назад

Saying something is never a positive trait shows how naive you are about the real world. There are nuances to things in life.

@theBear89451 5 месяцев назад

Have you tried to afford a home in America recently? US homes would be much more affordable if the planning department accepted bribes.

@leolucas1980 5 месяцев назад

@@badluck5647 So basically the government pays public servants to do nothing because they already charge people, and the ones who can't pay for the services don't get them anyway. A system like that would rather be privatized because people are only given money to public servants through taxes. Corruption may be good in cases such as that of Oskar Schindler, who used it against evil acts of the government. In general, it is bad because a good economic environment needs stability and legal security.

@digl_live 5 месяцев назад

My immediate question to the proposal of corruption being good for growth would be: Why would corruption be good for growth and not the other way around? Why can't corruption be a side effect of growth instead of it's cause? Just because it happens at the same time doesn't mean it has any benefits to it. I'm not sure I agree with the analogy of drownings and ice cream sales, because they are entirely unrelated to each other, and both relate to something else. I don't thing growth and corruption are entirely unrelated to each other, but I think it's growth that causes corruption instead of the other way around. When things are rapidly growing, it's very difficult to have strict rules and police them properly.

@icai6969 5 месяцев назад

He changed the thumbnail

@patriarch7237 5 месяцев назад

"I think it's growth that causes corruption instead of the other way around" - problem with this is that there are countries and societies which have corruption, but not had the growth. So what causes their corruption?

@theBear89451 5 месяцев назад

There could be a feedback look.

@digl_live 5 месяцев назад

@@patriarch7237 that's a very easy question to answer actually. Why would growth be the only possible cause of corruption? It's just one of them, that could overshadow all the others if it becomes overwhelming. Corruption obviously doesn't only appear when economic growth occurs, growth in this suggestion would only be increasing the rate of corruption that was already there. And what actually causes corruption to exist is pretty well known - it's just human nature of selfishness. Generally the more power you have, the more selfish you become. And the more selfish you are, the more likely you are to do things that benefit you while making life worse for others.

@ssdhusg6042 5 месяцев назад

Obviously corruption is a problem that exists and is faced by all countries. It's just that they are not to the same extent. A key indicator of the extent of corruption is the gap between rich and poor. The most prominent examples are India, which has the largest population, and the United States, which has the largest capital.

@Shimra8888 5 месяцев назад

Please define corruption. Is lobbying, ‘consulting fees’ and campaign contributions considered corruption?

@crazydinosaur8945 5 месяцев назад

is it legal? if it is, its not corruption. by law i think

@haykk5375 5 месяцев назад

Corruption is exploiting agency power for personal benefits. Depending on the jurisdiction and the actual case it may even be legal.

@SomeInfoSecDude 5 месяцев назад

Excellent. As always. Since your are asking I do enjoy such type of topic specific videos. Countries and their ranking on the economics explain ladder is great but diving into concepts is also very informative.

@drsimonwyatt 5 месяцев назад

Correlation is not causation. In developing countries where corruption is prevalent, economic growth is easy to achieve by implementing the technologies which were innovated in highly developed countries.

@briandh91 5 месяцев назад

That is, if they're able to afford them.

@LTVoyager 5 месяцев назад

I agree this is the old problem of attributing cause to correlation. The relationship between corruption and economic growth is simply a correlation with no causal relationship. The low growth countries have far larger issues than corruption and the high growth countries have advantages that overcome their corruption.

@dylreesYT 5 месяцев назад

I prefer the longer deep dive videos but videos like this are also important so just keep doing what you feel is natural. My only desired outcome for this channel is that you never stop posting.

@fromthebirchwood 5 месяцев назад

I’m 35 and I have about $150k liquid in savings which I plan to put towards becoming a homeowner but based on the current high prices on real estate, do you suggest I hold from buying and look at stocks instead?

@susanbaldwin53 5 месяцев назад

I’d consider having a diverse portfolio, first time home buyers on average right now are putting 5-10% down. The remainder can be thrown on equites, but it’s best to have some sort of coach or a financial planner guiding you

@maria_casey 5 месяцев назад

Straight up! I had a stagnant $225k that started generating big fat yields as soon as I picked a CFP to do the day-to-day investing job, leaving my portfolio just about 10% from a million in barely four years today, not so many see the essence of financial planners.

@HaroldsTKO 5 месяцев назад

@@maria_casey well said, I see no other way to maneuver steady profit and steer off losses in today's market affected by economic policies, that's why I'm in line with seeking expertise assistance.. mind disclosing info of your financial planner please?

@generosityliveson 5 месяцев назад

@@maria_casey I find this informative, just inputted her full name on my browser, spotted her site easily and was able to send my message across, she actually shows a great deal of expertise.. thanks for sharing!

@RaphaelAlejandro 5 месяцев назад

These bots are so stupid. Don’t fall for it.

@lvseka 5 месяцев назад

I have seen corruption used as an instrument to avoid unnecessary bureaucracy, particularly in lower income societies. This money typically ends up in the hands of lower paid jobs in such economies such as traffic police rather than in the hands of higher ups who would still pocket it. The thing is, it works, people still want to avoid situations where they have to bribe others and in the event that they do, it results in higher wages for people who are relatively underpaid as well as a simplified system of service delivery or governance

@John-uw2je 5 месяцев назад

That’s the thing tho, they wouldn’t need to be corrupt if the people in higher positions WEREN’T corrupt.

@lvseka 5 месяцев назад

@@John-uw2je I think they wouldn't need to be corrupt if they had higher pay and the risk of losing that pay was detrimental. But the pay won't change anytime soon so...

@willy4170 5 месяцев назад

⁠@@lvsekaor… the people wouldn’t have the need to corrupt them if there was less red tape and bureaucracy.

@danielschein6845 5 месяцев назад

In that case maybe leaders could get rid of the unnecessary bureaucracy rather than have people corruptly avoid it.

@kingpauljoel6827 5 месяцев назад

In some countries you cannot survive without corruption higher government officials are using public funds as their personal pocket ,and lower ranking government officials who are the majority are most of the time receiving peanut or are unpaid. In these countries if you remove corruption the country will shutdown.

@flexusmofo 5 месяцев назад

You manage to make economics fun, that's a great achievement in my book. This format is also great, an opportunity to tackle more aspects. Keep it up!

@alex_zetsu 5 месяцев назад

I got a laugh when you pointed out a bribe might be to take money that was stolen by the government anyways since in places with weak or compromised courts, that is very plausible. You can make the argument that in the short term a few bribes can grease the wheels and isn't always like paying a bribe to undermine financial controls at a major bank. The problem is that even "good" bribes will undermine trust in the law if it is publicly known unless trust is already gone.

@DaM0viestar 5 месяцев назад

I liked the video but deep dives are better! Thanks for making economics fun and easy to understand!!

@yaragi 5 месяцев назад

^^ This ^^

@svendejong8110 5 месяцев назад

Another vote for deep dives here.

@jeffreywj7773 5 месяцев назад

A real food for thought video. I am going to have to process this one for awhile. As far as format, I enjoy all your videos whether long and detailed or short and an overview. Keep them coming. Thanks.

@leobfg 5 месяцев назад

Great length for this type of niche / short explanation. Perfect length for its subject matter without bloat

@Omer1996E.C 5 месяцев назад

Corruption is always bad, saying this from Ethiopia, a country with an extremely corrupt government

@steve470 5 месяцев назад

Each video should be as long as it needs to be, but no longer. I personally appreciate both shorter content like this and deeper dives, and hope you'll continue to do both.

@MrJulioYanez 5 месяцев назад

I love these kind of videos as well! They're super interesting and actually they help me at analysing data for my job which has nothing to do with economy

@riplikatlnloki5091 5 месяцев назад

“Can corruption be good for economy?” Was the original title

@andrewpayette621 5 месяцев назад

I preferred this shorter style. I feel I was able to retain more information.

@jablue4329 5 месяцев назад

I feel like this could also be easily framed as economies with strong growth *despite* corruption instead of *due to* corruption.

@amymason156 5 месяцев назад

If, hypothetically, a country has a 100% tax rate, it would be expected to have an economy that can't function at all. But corruption could allow it to function normally, or even figure out how to distribute wealth more effectively than its government ever could. That's not because corruption is helpful per se, it's just because the people making the decisions would be more competent than some very, very incompetent legislators there.

@partydean17 5 месяцев назад

If a country is imprisoning people for "smuggling" as in getting goods and services people want, then paying off one corrupt government leech is seemingly allowing continued enrichment to happen rather than be stifled.

@jablue4329 5 месяцев назад

@@amymason156 It could also become a place where those with the money to bypass laws are the only ones really living, but point taken. It could be a function instead of a defect.

@chelseachampions3492 5 месяцев назад

It’s called corruption in China or Africa. In the states or Europe it’s called lobbying/ campaign donations. Language is a powerful tool

@heinenrby7600 5 месяцев назад

that "fit" to the scatterplot on 4:05 is a LEAP lol.

@danielschein6845 5 месяцев назад

The idea that getting economic growth by greasing the wheels might be a good thing ignores why the regulation that the bribe payer is evading existed in the first place. Usually the government is trying to prevent an external cost from being imposed on the rest of the country. Paying the bribe may have allowed the factory to be built in a place where it’s going to pollute the local water supply and create a huge cost for everyone around. This cost is very hard to compute and may not even be counted but it’s a net negative for the economy.

@auraguard0212 5 месяцев назад

Usually the government is incompetent and/or extractive, though, at least in Africa and much of Asia.

@aceflaviuskaizokuaugustusc8427 5 месяцев назад

And sometimes it’s over looked because the government wants to see economic growth. Release the reins and let there be growth and later reap the rewards. Of course there will be problems with unchecked growth and the cost of ignoring the regulations. But in a country like China the government naturally has the power to crack down hard on such corruption if they wanted. But in the face of money and profits most countries will be content to let some corruption go.

@prusthegoose 5 месяцев назад

As someone who's watched every video on your channel since before the leaderboard was even a thing, I prefer longer more nuanced content. I think it's great to try new things and I'm sure the data will show how effective shorter videos are for you in terms of reaching a wider audience.

@benceze 5 месяцев назад

Corruption acts as a practical way to get things done when the system is unrealistic, inefficient, or too old to solve new problems. This is true even for Nigeria.

@quintessenceSL 5 месяцев назад

Yeah, something not brought up is the cost of regulation. All rules incur a cost of enforcement and oversight (not to mention added complexity). If the costs exceed the benefits, corruption will occur either through bribery or simply ignoring of the rules.

@shayahershkowitz5518 5 месяцев назад

I like the short form too. Enjoyable to listen to, but more like a snack. Keep up your great work.

@davidashton6567 5 месяцев назад

When I was in Egypt I found that corruption was privatising public servants, as there wages were too low there was a fixed scale of corrupt payments to make a living wage. One day I was entering a boatyard and offered the guard the usual payment but he refused as he explained it was Ramadan.

@SigmaFridge 5 месяцев назад

Sheesh

@BalooSJ 5 месяцев назад

A thing to consider about the "Grease the wheels" hypothesis: if corruption is a big problem and businesses are willing to pay underneath the table to get around regulations, that provides an incentive for regulators to make regulations more onerous, because that in turn gives businesses more of an incentive to pay up.

@tinyflyingfish2541 5 месяцев назад

I think I slightly prefer the longer videos - although both are very enjoyable. Keep up the good work!

@ofwindandsky9547 5 месяцев назад

When you’re born in undeveloped & corrupted country like mine, you will have zero doubt about how good or bad for growth corruption is

@cyrusii2746 5 месяцев назад

Personally I enjoy both forms of long and short videos but shorter videos are easier to start watching than longer ones Keep on the great work❤

@recoil53 5 месяцев назад

Yes. There are a lot of long videos I'd like to watch, but I miss most of them. Of those that I do watch, I watch mostly in segments. Sometimes over days. I just don't always have the time.

@LordMyron09 5 месяцев назад

I think the "grease the wheels" hypothesis is a "good idea" on paper: as soon as corruption sets in somewhere, it kinda takes over how things are done. The corrupt officials get greedier, and the people who can most easily benefit from it are already rich, so the lower classes can never raise the capital to make it themselves. And yeah, I know that the rich already have a leg up in other economies. That wasn't my point. My point was that corruption is not some kind of "self-regulating" economic force that helps growth: it's just another way for the rich to build wealth while everyone else still gets screwed.

@guyswartwood3924 5 месяцев назад

I like both styles of your content, shorter or long (I don't watch RU-vid shorts). Keep up the great work, mate!

@BofaDee33 5 месяцев назад

Wow this channel exploded I remember when it was like 88k glad to see so many others liking/learning as much as I am here.

@gtbkts 5 месяцев назад

Thanks for the awesome content and all the great videos!

@vinaynk 5 месяцев назад

This is the issue with looking at a single feature to analyze trends. Important metrics such as genetic uniformity, cultural & linguistic uniformity, percentage of young workers etc should always be considered for any discussion.

@vforvreak8895 5 месяцев назад

I watch all your videos. This one is top 10 my fav. More of this plz

@pp_01123 5 месяцев назад

I still remeber this was the question asked by panel for IIM-Kozikode interview to me!

@twistedmovies8782 5 месяцев назад

Corruption is NEVER good.

@zundance. 5 месяцев назад

there’s nuance to it

@benjaminchen8857 5 месяцев назад

Corruption results in more growth if it’s to change a policy that prioritizes something else over growth. It was a 65 year study, so short term vs long term growth would have been captured, but not growth consequences over 65 years in the making

@calebgodard4554 5 месяцев назад

Never good, but it looks like sometimes profitable

@someone-fs6ix 5 месяцев назад

Keynesians will justify anything unethical as long as it increases GDP. Even pidofilia

@twistedmovies8782 5 месяцев назад

You all are obviously greedy pos' and the root of the problem. Humans are disgusting creatures when it comes to greed and corruption.

@sarahbrown6493 5 месяцев назад

Great video, very interesting. Would have loved to hear about how this system could be playing out in China though, there wasn't any focus on them at all. Kind of misleading.

@archmagoshazrael 5 месяцев назад

Just clickbait

@Breloom286 5 месяцев назад

kinda cool these shorts explanations. so we if i want to see it again i don have to remember in which video i heard it

@MaynardLandrito 5 месяцев назад

I like these shorter videos that tackle general economic ideas. Ideally, you would post these more frequently, with the longer deep-dive videos slotted in between every so often.

@juanmartin1729 5 месяцев назад

Contrastingly, in China, corruption is addressed at its core once identified. In Western societies, however, those engaged in corrupt practices often evade incarceration and merely face financial penalties, creating a disparity in the approach to addressing such issues.

@MarktYertd 5 месяцев назад

true

@Shimra8888 5 месяцев назад

There is no corruption in G7 countries. It’s been redefined as ‘consulting fees’.

@chcgo2undaground 5 месяцев назад

Corruption at the individual level is criminal...at the corporates level is typically pursued as a civil matter to simply persecution...which you should know it you were really familiar with the subject................

@HShango 5 месяцев назад

@@Shimra8888😂😂😂, nah there is. But it's not right in your face corruption like the global south.the global north hide their corruptions until a group of people leak info on their corruption to the media

@xiphoid2011 5 месяцев назад

Sorry, I grew up in China. We all know where corruptions are, it's not an issue of "identified", but what's allowed vs not allowed. As long as it doesn't cause social outrage, its allowed and is endemic. When everybody can 走后门 (use the back door, to grease the wheel, to get a lucrative contract) then it's tolerated, because everybody participate to some degree. However, if it caused a major outrage, for example, corruption cause shoddy school building which collapse during rain and killed a bunch of school girls, people were outraged, then the government serve the corrupt official up (and to prevent the blame to go higher up, even though these lower corrupt official exist because corrupt higher officals exist).

@kurttSchuster 5 месяцев назад

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@BenjaminMcLeod815 5 месяцев назад

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@eliahabib5111 5 месяцев назад

What about the cost of avoiding red tape for the economy? If you can get permits with a little bit of corruption it might lower the business costs. But what if a factory burn down killing many employees because fire prevention regulation where ignored? Or what if the houses built crumble at the next intense earthquake because building are not up to code? If you don't factor the costs for society, how can you evaluate the benefits of the growth?

@davidcooks2379 5 месяцев назад

It's great to have these mini-topics. It would be interesting to explore if countries in the state of war develop faster than those in peace

@briann2509 5 месяцев назад

Love the new format, really interesting to see how you try to correlate something like corruption to the effect on economic growth. Big fan of economics explained 🔥

@mikewassef8172 5 месяцев назад

Corruption may “grease the wheels” and move business faster which will boost growth in the short term. This is because you can side-step things like checking if a project wastes public resources, poisons the environment, creates low-quality products…etc. in the long-term, it can totally wreck your economy and destroy public and investors trust in the institutions running things

@bckelley90 5 месяцев назад

Maybe a mix of both video styles? I do prefer videos that are about twice this length. Keep up the great work!

@stevk5181 5 месяцев назад

I really like your more in-depth videos. That being said, this was a great video as always!

@orboakin8074 5 месяцев назад

As a Nigerian, I have a unique view of corruption: It's definitely wrong but as long as it doesn't hinder exonomic growth and development, it can work and be tolerated to a degree. My dad once tomd me that our problem in Nigeria, and Africa, is not corruption but corruption that doesn't work. The west and Asia have corruption but they still maintain infrastructure and improve their economies while i Africa, our stuoid leadership just pockets money without even trying to improve things.

@johndelagarza361 5 месяцев назад

Its one of those things where the intention matters. Its the difference between people breaking the law to get useful things done in a timely manner vs people breaking the law solely to benefit themselves.

@justskip4595 5 месяцев назад

Greetings from Finland. Not that many decades ago we weren't this well off. Most of my relatives have been very very poor and I haven't been rolling in money in any point of my life either. All this time though we have been trying to minimize corruption here and have managed to increase our living standards even in my lifetime more than I would have imagined. The problem with bad things are that when people see bad stuff they start to justify for themselves that "Well, others are doing it so it can't harm that much if I do it too". Like littering, it's easy to throw litter somewhere where there's some but when everything is clea, you're less likely to throw the first trash and others are more likely going to not like it and complain.

@CandleLover69 5 месяцев назад

Just a small point you missed, corruption in an economy creates perverse incentives which then lead to inefficient capital deployment. Think about bridges to nowhere being built in China. This pumped up GDP and other economic measures in a province by creating jobs, but the infrastructure they built increasingly created no economic value.

@valdsonfrancisco8836 5 месяцев назад

"We have avoided mentioning any countries in particular here in this video" *looks at the title and the recommendations at the and of the video* 🤔

@woolenthreads 5 месяцев назад

To answer your question 6/1, half a dozen/the other. I listen to these while working and I enjoy the fact that you are/were putting them out once a week. If shorter makes it easier to get them out I think "go for it" because a longer video isn't going to make much of a difference in an eight hour day.

@quintessenceSL 5 месяцев назад

Strange that regulation isn't considered corruption. I mean the most advanced form of corruption is the ability to buy the law wholesale.

@ChuckThree 5 месяцев назад

I liked this short format for occasional usage, especially if allows the exploration of unique concepts like this that couldn’t make for a longer video

@theromanorder 5 месяцев назад

Please do some things on how we find corruption or just more on it, Mabey some videos on identifying failures, like is a leader useless or is it something else thats good, That sounds like an esay video

@allisonseamiller 5 месяцев назад

This seems like a crazy question to ask. Corruption is bad, so who cares if it's good for the economy? It's probably good for the economy to euthanise all the homeless, but that's still unethical so what's the point in researching it?

@HoLeeFoc 5 месяцев назад

Corruption is often defined by those in power. They often do so in terms of the powerless breaking the rules for being ethically and morally lacking. Yet ironically, when they break the rules, they do so under their justification that they will be of creating jobs and promoting national security while "coincidentally" enriching themselves. Two caste system.

@thatguycarlos 5 месяцев назад

0:48 the guy freaked out by the drone. 🤣😂🤣

@jaydibernardo4320 5 месяцев назад

I enjoyed this type of video. Keep them coming as it's a good change of pace on topics. Variety is the spice of life.

@in4ser 5 месяцев назад

In the United States, we don't have corruption. Instead we have something called "lobbying" instead and it is completely legal.

@semp224 5 месяцев назад

Interesting take!

@_ata_3 5 месяцев назад

Also a study would also have to look into how corrupt were developed economies when they were developing and if there was a backslide on a developing economy going backwards how did that had to do with corruption.

@SpartanFishy 5 месяцев назад

Didn’t even realize it was a shorter video. Great content

@joakimjohansson8943 5 месяцев назад

This is one of the few channels were I trust the creators to not needlessly bloat the video with restated points, so even though I prefer shorter videos for many other content creators, EE is one of the few exceptions were longer content can safely be assumed to be more of a good thing.

@harlequinne. 5 месяцев назад

As an answer to your question if I prefer shorter or longer videos from you... I will watch all of the videos you put out. They are ll fascinating.

@adamgray4768 5 месяцев назад

Great video, I tend to prefer the longer deep dives

@lorinkramerone 5 месяцев назад

I've always been of the opinion that if you can't explain something in under 10 minutes, then you don't understand it well enough. Great video as always, and I appreciate the shorter format.

@vanillagorillagaming9474 5 месяцев назад

LOL, love how he says at the end of the video that they haven't mentioned any countries in particular but the title has China in it.

@ofthehunt4243 5 месяцев назад

Video quality is more closely correlated to if I watch than video length. When it says EE I know that has a strong correlation to high quality.

@Sullivan25 5 месяцев назад

Great video ! But I prefer the longer ones (15-20 min) personnaly ☺

@genovids 5 месяцев назад

I prefer the longer formats, thanks mate.

@deohenge1865 5 месяцев назад

Definitely enjoyed the succinct video format. If you need the video length for monetization purposes, then go for it. If not, this felt easier to understand and probably saves you time sifting through stock footage.

@bruns.like.spoons9251 5 месяцев назад

I like these shorter videos. It's easy for me to slip in ten minutes, whereas twenty-plus means I have to plan around it. I enjoying doing the latter, but if a topic can be shorter and still enlightening, I'm all for it.

@dorianodet8064 5 месяцев назад

Or the very very simple equation that there need to be some economic output and wealth developped for corruption to really go up at all (explaining why some corruption seem to be correlated with higher economic output, if everyone is dirt poor, you have little leeway for corruption) but that corruption is always bad and will prevent your economy from really ascending.

@ctimmons4722 5 месяцев назад

Always enjoy your work. Definitely prefer the deeper dives. The paucity of data underpinning this episode is like the story where a woman comes upon an economist at night searching for something on the ground under a street lamp. The woman asks the economist what he’s looking for. The economist replies he lost his keys. The woman says it’s obvious there are no keys on the ground there. The economist agrees and says he lost them on another street. The woman asks the economist. why is he still looking for his keys in this location The economist says because the light is better here.

@polloman29 5 месяцев назад

This format is great! As long as we keep getting the deep dives too Im totally down for these

@skybum6040 5 месяцев назад

I think these videos are great to make when a subject is brought up a lot, so that you can link it in your videos on more hot subjects that inevitably will attract more views. Personally i prefer these videos that examine more widespread and macro examples of economics compared to the more case study esque examinations of other countries

@user-nu8in3ey8c 5 месяцев назад

The economists saying that corruption is for the greater good reminds me of NWA of Sandford in Hot Fuzz. We can't have those pesky busy bodies, crusty jugglers, and living statues in our economy now can we? "I hoped you'd understand it's all for the greater good." "How can this be for the greater good?" "The greater good."

@virtusincognita1243 5 месяцев назад

Please do continue to produce also these shorter videos if you find an interesting point to focus on - like in this case through the paper that was mentioned.

@attackfive8659 5 месяцев назад

This was a very good presentation on global corruption. Still I prefer your more in-depth coverage of economic trends.

@davidrussell8689 5 месяцев назад

I think your analysis is totally adequate in the level of detail to get a very basic grasp of the subject .

@grantwright8922 5 месяцев назад

New Zealand and Australia also feature quite highly in the 2023 ICRG list of least corrupt countries.

@doomer_to_boomer2402 5 месяцев назад

Prefer the longer videos, because you always teach me more. If shorter videos help, great, but the longer ones I think allow you to get better structure and illustrate the points you make a lot better

@jessiemorton4219 5 месяцев назад

I personally like the deep dive but the short versions spark, my interest

@lurefiix 5 месяцев назад

You missed the time axis. Eg Sweden had its economic boom in the 50’s and 60’s, and has been on a steady decline since. So the positive effect of not being corrupt might be hidden in the timeline.

@alanbudde8560 5 месяцев назад

I love these videos because so many producers would turn this into a clickbait with sensational conclusions

@lesthodson2802 5 месяцев назад

Holy confounding variables Batman!

@sideratux 5 месяцев назад

bigger topics, deeper dives! thank you!

@TheSolarGuyJK 5 месяцев назад

At whatever level, corruption is bad. What I would like to see is a bit of enablement for business to move faster. Enablement by easing of laws, not ignoring them.

@DelCause 5 месяцев назад

Transparency is about stability and trust, as we have seen from all the economies that they prioritise transparency and low corruption, growth is not their strong point but rather stability.

@AndyViant 5 месяцев назад

The reality is simply that the corruption in advanced economies is not defined as "corruption" by the people doing it as they're the law makers. Instead we talk about things like "rent seeking" whereby major industries lobby government for favourable laws or tax exemptions, or a developer who provides political donations gets favourable rezoning that sees the land they hold rezoned from agricultural land to medium density residential, creating tens of millions of dollars. Or of course, for an airport zone in Western Sydney in the "Leppington Triangle", hmmm? Or pastoral leases or mining leases. Or who is allowed to purchase a coal fired power station for $1 MIllion that's worth closer to $700 Million in the real world and everyone knows it. The problem with such corruption is it flows up - creating greater wealth for the already wealthy, allowing them to buy more power and influence, thus creating more corruption. And it only ever gets offered to political mates. At least the dodgy cop looking to make your fine disappear for $50 under the table is never going to own your politicians. If it's abuse of power, trumping up a charge for an offence you didn't commit to make you pay the bribe in the first place, then it's a huge problem with undermining law and order. Think of the movie Cool Hand Luke and having your tail light smashed by a corrupt cop. If it's a fine you earned fair and square, but they're offering a reduced fine it's not really a big deal - it's more a paperwork efficiency thing. Plus of course, then as the saying goes if you can pay a fine, it's really only an actual crime for poor people. That's the thing really. 3rd world type petty corruption at the coal face is churned back into the economy. It's small scale and it just gets rolled back in High end first world rent seeking or lobbying shifts the whole economic system to create permanent winners and losers who gain generations of wealth, power and influence. It basically hands substantial level of power to those people and their children and their children's children forever, and then it gets reinvested to buy more power. Creating little empires and royal families within your democracy forever. The Murdochs? The Rockefellers? It's by far the greater evil.