The Weird and Wonderful Economy of Vatican City 

conservatives r happy with unscientific moneylenders.

Hong Kong is sadly losing its autonomy

@@takashi.mizuiro lost* The round ups have already begun weeks ago.

Scotland and catalonia: ...

I think Taiwan is the most country-like non-country.

hahahaha me too

Love your videos

Your vids coolio! How are they so good! Edit: I'm not a bot

You should make a video on the economics of the porn industry. OnlyFans, Pornhub, etc.

You've been busy keep it up .

haha one day, one day.

@@EconomicsExplained bruh, I'm itching for you to ditch the stock footages.

@@Angglio what's he supposed to use

Duo isn't holding my family hostage Hope your family escaped from Duo who didn’t hold them hostage

Jojo real footage? From other youtubers

Sound like you need a 'Stimulus Package' :)

ehh, well if you haven't been fired yet, I suppose you are minimising resource use to maximise income!

If you haven't gotten the virus, or spread it to anyone else, you've saved thousands of dollars in personal hospital bills, burial costs,, spread those same savings to everyone you both did and didn't interact with, and saved your local hospital thousands of dollars in overtime for terminally overworked healthcare workers.

Its character stupid!

Your job's goal is to minimize pay for maximum output. Your goal is to maximize pay while minimizing output. As long as you don't get fired, all you gotta do is enough not to be hassled.

haha you're probably right, I can't imagine them getting that score for 2020. But we will let them have it for now.

*country's

@@EconomicsExplained see, this is why i love your sh*t. great sense of humor for an economist.

@@tompeled6193 Thanks.

God does not pick sides (Joshua chapter 5 delves into this)

If economists got laid id be one

See what you did their ;)

oi, I am a kangaroo.

Its a FECKIN EMU ITS NAME IS BORIS

@@EconomicsExplained I am offended by you criticising us birds. ENOUGH WITH THE MAMMAL MAJORITY , DOWN WITH THE KANGAROOS!

*the US is on fire

*No one

Name checks out

chips and pop ---> taxes $2.25 ---> a fuckton of money spot on

Let's SEE

@@adroitdroid5989 im writing this because there is no save comment function in youtube

eh.

@@EconomicsExplained ;-;

Popefully I would like to see it one day.

@@bananalord8461 aight have a lil heart

Economics Explained gasps in shock*

Thomas Maddox this comments needs to be boosted.

@@user-nf9xc7ww7m In fairness, catholic priests all willingly join the organization, and it's not like the individual parishes don't support each other at all, sometimes churches may ask parishioners to donate, and that money will be given to another parish for upkeep, building costs etc. Additionally, all churches globally were affected by the pandemic so it's not like theirs a massive excess of money floating around.

@@user-nf9xc7ww7m well that is a good point, the Catholic church can't be compared with a corporation. When a corporation turns a profit the money will either be invested back into the business, or saved into the company account or squirreled away by the executives. However, as the video states, most of the donations given to the church are spent on upkeep, or given to various charitable causes. Additionally, there are more ways to offer support than money. Just at my local church, I've had different priests from 4 continents who have been sent over by the higher-ups, so while the individual churches may not receive monetary support, they may receive help from Rome in other ways.

@Darknees XL Where is the pope's jet, or any newly commissioned mansion? If you could direct me to where to look then I will, but as it stands you haven't substantiated your claims.

And the poor……homelessness and political abuses have diminished because of the Vatican……….said NOBODY……………

Not sure it counts. Since it doesn't have any land, it doesn't have a size, therefore it cannot be smaller than another entity.

Agree. The Vatican is an INFINITE TIMES BIGGER than The Sovereign Military Order of Malta.

State =/= sovereign military

They don't have any territory, and only a dozen or so citizens.

And they aren't really sovereign as they're subjects of the papacy...

?

This is a problem with all video with leaderboard. I am not sure how it has not been noticed till now.

ahh haha you know nobody ever pointed that out

Paste a 3 with duct tape

What is the problem ?

@David Anthony De La Cruz Monarchy is inherited. The Pope isn't inherited that position, but chosen in a long process from the Cardinals.

@@fduranthesee False, many monarchies were elective. Most were theocracies like the Vatican. The Netherlands and the Holy Roman Empire both are good examples of former elective monarchies.

Well actually its a "Theocratic Non-Hereditary Absolute Monarchy" 🇻🇦

It's a theocracy and a monarchy, the pope is also the king of the Vatican

@@hyperion3145 the "elected" emperors of the Holy Roman Empire still got their electable position from inheritance though. The Habsburgs were already royals, while the popes don't even have to come from an influential background (francis was a janitor in his youth)

A sovereign just means a ruler. A monarch means one ruler (usually inherited but not always, elective monarchies are a thing). A king is usually the title for a male monarch. The Pope is a theocratic king (in Latin he's literally called Pontifex Maximus, the Supreme Priest). The names of countries do not always match the government. The Roman Empire and Byzantium both referred to themselves as the "Senate and People of Rome" and sometimes the "Roman Republic" despite not being a republic most of the time and not owning Rome for most of the Byzantine period. A more proper name for Vatican City would be the Vatican Catholic Commune since it only really has part of a city.

@@hyperion3145 not entirely. He is The Pope, and that is all of titles he needs. Even at highs and lows of papal state times (anything between fall of rome till creation of Italy 150y or so ago) he was more than mere kings or Emperor of holy roman empire (technicaly ... some kings and emperors had somewhat different views on matter, usually accompanied with sword) . So do not bother give him labels or titles he does not have need for :). And theocracy is neither monarchy, nor monarchy of priests. They are different goverment types and while they may be at times similarities to monarchy you can also say that theocracy in Iran is Kapitalistic Comunism of priests, which is ofc same BS ...

Is the Jesuit Pope over and above in leadership of the Pope people more commonly know of? Aka the white pope?

ooh, that is early.

Last time I was this early humans did not live in Italy

It's one that we will actually be doing really soon!

@@EconomicsExplained I am an Argentinian and i would like you to analize monetary policies and sindicate corporations of Argentina from your perspective, if you want i can translate something you need.

Argentina? I thought its name was Peronia.

Argentina once had the largest or at least one of the largest GDP per capita in the world around 1895. Must a be a good example of how not to manage an economy after that.

@@David-bi6lf Yes, exactly.

hopefully I do the topic justice :)

@@EconomicsExplained im italian from rome and nobody talks about it👌

@@EconomicsExplained I think you explained it very well! A lot of people assume all the money around the world is going to the Vatican.

Can you explain General relativity to 6 year old?🤔🤔

Can you explain Ww2 to a six year old?

@@gametmane1093 probably

Feynman: " If you could explain it to the average person, it would not have been worth a Nobel prize."

@@alchemist6819 there's a difference between explaining it and having the 6 year old understand it

LMAOOO

Last time I was this early, the Tartars still lived in Crimea

Last time I was this early, Death star was still only a plan.

last time i was this early,Kaliningrad was still Koniggratz

Last time i as this early, Goolag is still a thing

not bad! hope you held onto them.

@@EconomicsExplained I will! Awesome video btw

I found three coins in my gas station in the holy sees biggest market of America, gave one to my friend the cannon lawyer.

@@marcschaeffer1584 I didn't know cannons have lawyers lol you mean Canon Lawyers.

I did too, but I accidentally spent 2 of them. Am so angery

That's an interesting one. May give that one a thought for sure!

Here's the summary: it doesn't work. Resources, even super natural ones, don't create innovation. People do. Specifically, economically free people. Those with free exchange of thoughts and interests. Such an economy is not depicted in Black Panther. It's just magically super teched while being isolated from the world.

Did the movie ever said who they even sell all that valuable vibrantium to?

@@SangoProductions213 Maybe Vibranium is just so magical it automatically makes innovation.

@@oscarword775 Then Captain America's shield probably should have turned into a space ship by now. ;)

And you learned that from Hoi4

@@friendlycrusader8892 It was some book about Stalin, haven't played hois. But it's good they have interesting quotes from the leaders.

John Paul II made sure that what stalin said didn't matter, thankfully

Stalin is now dead and his country no longer exists. The Vatican is still one of the most most influential institutions on earth. Your move, tankies.

@@toahordika6 "The Vatican is still one of the most most influential institutions on earth." - In area of covering up pedophilia perhaps. Otherwise countries do not care much what vatican says. WW2 was good example of it. Vatican didn't do anything against nazis.

That would just be speculation about the future and its almost impossible to speculate accurately, especially about something as vauge as a world economy.

Yeah, let him get his magic crystal ball and do video about future

hahaha, an interesting one for sure but I feel like mr algorithm would not like that!

@@EconomicsExplained but a big chunk of the market haha

So economics of twitch?

@@EconomicsExplained Economics of Vice

@@EconomicsExplained you're an economist, you specifically should be able to see the ramifications in subscribers this would have. You taught us to think in the long term, prove your mettle boyo

It's already been done :)

*Sad Brasil noises*

That's correct. It's the Catholic church.

I am!

Joaquin Cimas It would be great

Is that why northern Europe is currently fighting over how much we need to give you? 😇 your big economy?

​@@Ju-bj3ko Well, no, obviously the reason is the combination of how much Spain has suffered and how much money your country and their friends can reasonably spend. They don't agree on how those stack up, so they fight. It's not like Spain doesn't have a big economy; northern Europe has just been less affected and still has a good set of economies, and they're also ridiculously charitable people.

Thanks mate, glad you enjoyed!

interesting one. Maybe a historical look. But it's not really a nation per say.

@@EconomicsExplained Oh! Sorry, I meant Venice the city-state prior to the Age of Exploration. It seems far more economically interesting to me than Rome.

@@EconomicsExplained Middle age Venice would be interesting. A city state so rich and powerful that it can stand up against much bigger kingdoms. Check out for the War of the League of Cambrai!

@@dr_evil8686 I thought Venice had more territory than just the city? Or am I stupid?

@@oscarword775 no no, you are right! Especially after the 15th century, during the Renaissance. But before then, in the middle ages, Venice owned only small coastal colonies and commercial landings and was effectively a city state :)

I was looking for a comment on that brilliant line

Yeah i I recall the Catholic church has hand in many science fields. People don't realize that whilst religious many of the upper ranking clergy men have stem degree... Besides the idea that the world is created by god and so we must learn about it which I've heard.

we will eventually do it, we plan to do every country in the world soon enough :)

Economics Explained would love some old countries too like ex Yugoslavia or Rhodesia

@@EconomicsExplained That would be insane. I can't wait!

Not only in Italy. Almost everywhere they’re above the tax law.

All around they are above the tax laws which is bs

CoyoteOcean Well since Saint Matthew was originally a tax collector, they’ve always known how to get around that sort of thing.

@@Abk367 I agree completely. If a religious institution cannot get by with taxes or is using most of its wealth on helping the community I think it shouldn’t be taxed

Seems like only reason is enough and faith has no place left.

You probably haven't seen Judaism then. It's built entirely around using reason to find solutions and solve problems while following a strict ethical doctrine. It should also be noted that the Catholic Church was not always progressive or reasonable... In fact, to the outside world, most people think it historically stifled rational thinking with the expulsions of heretics, denouncing things like the piano and coffee as sin while also executing thousands for reinterpreting the Bible. Recently a nun was exocommunicated for noting that Virgin Mary was not a virgin in the original text but what was interpreted as "virgin" was mistranslated from "young" while the original Hebrew and Aramaic texts were being translated. This was not new but it is definitely not a rational or even reasonable decision to make, but altering the original text and killing off the writers was also something the Catholic Church was intent on doing.

@@hyperion3145 I dont know much about that nun case you said, but what I can say is that new ideas within the Church must always be intensively discussed before drawing any conclusion, since it MUST be in accordance with a dogma dating back to Christ Himself and the canonical scripture, the Church can never be progressive at the pace the modern world dictates it to be, and although we had unfortunate cases throughout history, the fundamental purpose was never forgoten.

@@Marvinzum which is one of the motives people nowadays find no meaning in life

@@Marvinzum lol...an old,worn, failed and tried argument.

the bigliest

Raid the Vatican Archives: They can't @#%# us all

@@kenneth5355 Random Priest *is that a challenge*

@@kenneth5355 Actually ... if enough people stormed the place instantly you probably could ... i doubt vatican city has enough law enforcement to stop such an occasion and the question becomes whether the police of italy itself would intervene or whether that would constitute a breach of sovereignty. It's quite likely you could storm the place before the Italians make up their mind of actually intervening. If you do it fast enough, you might even just elect a new pope and declare a revolution ;D

Nah, it's probably just all their records of sexual abuse allegations against Catholic priests.

@@kenneth5355 The secret library isn't that secret: secret simply meant private and when states turned from entities relating to a person (eg. monarchies) to subjects of their own the word secret was kept - very oversimplified. Though recently the name was changed and 'secret' is not part of it anymore, as it is now a misleading term. And if the Vatican Archive is the treasure of humankind it is styled to be by those, who shun its secreteness, raiding it is the greatest disservice to humankind. To understand it: 1. It is the private library of the Pope. All his writings after his death, from personal letters, semi-official ones, papal documents, and any written legal action will be stored in there. And Popes produce a lot of writing - and due to ease of writing nowadays, what they produce in writing is growing from Pope to Pope. As I said: a lot. So it is an always growing library. 2. It is huge! Really really huge. It is estimated to have 85km of shelves. Of course there are hidden gems in there but not even the organizers of the Archive themselves have any idea where to find them. Just think about organizing this stuff, that you might refind sth. after you have found sth. And it is very hard to judge how valueable sth. is to a historian and almost insane to allow anybody to go in there roam the shelves and pulling out books that they might be interested in! Apart from the fact, that this might be biggest waste of time for any scholar interested to study sources for a given subject any semblence of order would be lost in a matter of hours (even disregarding the danger of plain thievery). Even the archivers themselves don't walk to the looked for manuscript: they drive. It's a planned for trip: combined with fetching other manuscript and bringing back others and orderly storing them away so that they may be found again: if a manuscript is even stored in the shelve next to it, it might quite possibly not be refound in a century. 3. Organisation. It has several different archive systems devollepd and changed over centuries and some again forgotten, sometimes just stuffed in there. Then when trying to organize this kind of stuff - it is much easier to do that with more recent documents for various reasons - a simple example for this is, that in the case of book titles and any sort of hint on the contents of a given manuscript on the outside is a very late invention only *starting* with the printing press. 4. They are trying to digitize it and use software as a help but just remember how much pages there are to scan, all the while handling the very paper with utmost delicacy. Software can be only of very limited help if most of the stuff is handwritten and this also with the varying styles of centuries and huge amount different languages and over time varying dialects. Of course you want to prioritize the most important books. Actually they are working on digitalizing 82.000 of their most valuable manuscripts. Just think about this amount! This would be a huge library of its own. 5. The interest in thourough organization of the archive is actually quite late as the method of scholarly throurough work in acquiring access to various different sources and actively looking for those, that are not yet commonly known amongst scholars of a given subject, is actually rather new (think of Gibbon's history of the Fall of Rome, which was indeed a revolution in source work in history as a science, but is pretty abismal by today's standard). So the interest of scholars in the vatican archives is comparatively young especially young compared to the age of the archive 6. Funding is limited. It does not produce revenue. Scholars are charged nothing. It is financed solely by the Papacy and the Papacy has much more limited funds than commonly imagined all the while having to finance a huge variety of other stuff (which you might have taken up on in this video). How poor the Vatican City and the Holy See are in cash flows does not come quite clear in the Video: both have roughly a (combined) budget of 700 million Dollars, with the latter currently running a deficit of 70 million. Compare this with these budgets: University of Vienna (500+ million Euros), Oxford University (2.4 billions!), Harvard University (4.5 billion!). This might help you to understand how thight the budget of the Vatican actually is - all the while running the center piece of the largest organization in the world (the finances of the Church as whole are as decentralized as can be, which is both a product of history and practicability). 7. Professional personal is hard to come by: given the fact that being Archivist might not be chosen by many people tp begin with and not many people studying history - simply being a good archivist does not fulfill the job requirements at all. You also need to be an excellent historian scholar not only fluent in a variety of languages, also being able to read and understand historical changing varieties of language and a historically changing variety of scripts thereof. That there is the access to scholars, that there is - at all - might be greatest achievement of archiving (and maybe budgeting as well) in all of history. At the very least appreciate the huge work that is done. and don't demand the impossible.

Yes soon :)

@@EconomicsExplained very nice :) looking forward to it!

tax haven

@@fabioferrarese5600 Not correct

And why the citizens of Ireland have no where to live.

Exactly

Very interesting, though really quite irrelevant to the intended audience of this channel (named Economics Explained, in case you missed it). But found it fascinating nevertheless. Thanks for writing this.

Actually, it’s very relevant since the purpose of the video is to explain how the economy of the Vatican works and why it’s so “mysterious”. My point is that it isn’t that mysterious and in order to understand the economy you have to understand the State.

haha nope, it's set for if I ever hit 1 mill

singapore is not micro enough LOL

Singapore doesn't have a billion double agents around the world

Can someone explain why do they own it?

@@Nothing-1w3 To study astronomy? most of vatican priest are highly intelligent individual, and some are interested in astronomy, thats why they had their own telescope.

can you imagine a world without lawyers?

@@EconomicsExplained sure but I'd rather not have no aid in navigating the law or council for settling civil or criminal grievances. It's nice to fantasize about a world where lawyers aren't necessary, but our current world without lawyers sounds like an actual nightmare.

@@user-nf9xc7ww7m They're just arguing different rights. That's all.