The World's Most Dangerous Economy: Somalia

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In this video we delve into Somalia's perilous economic situation after the government collapse in 1991, and reform in 2012. How are international relations, is there potential for recovery, and what lessons can we learn from this extreme economy.
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31 май 2024

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Комментарии : 1,7 тыс.

@EconomicsExplained Год назад

Thank you for watching! You’ll be amazed at what you can do with GrammarlyGO. Sign up at grammarly.com/ee06 and get 20% off Grammarly Premium.

@MrJanes-cl5sj Год назад

the vast majority of Taiwanese consider themselves part of the mainland. Its pretty much just the USA that is confused on the subject

@civosborne Год назад

I'm hoping Somaliland gets mentioned in this video. Update: WOOOOOO!

@natel9019 Год назад

The only reason they were pirates is because nuclear waste was dumped off shore and killed all of the fish. It was an Italian company. You continue to spread rumors. Smh

@korpusz Год назад

Did you Just teased Poland video ?

@ferdinanddaratenas3447 Год назад

Well, at least they aren't Lebanon...

@mrk131324 Год назад

Funny fact: These stocks for piracy raids are pretty much what the stock market was invented for in the 17th century in the Netherlands. Merchants pooled their capital to buy and muster ships to travel to Asia or the Americas and would share the profit if these ships return from their merchant "raids".

@scimaniac Год назад

which was why I was puzzled when he said stock exchanges require “high-levels of regulation”

@r.brooks5287 Год назад

I was thinking about this for here in the UK too.

@Alexeon Год назад

@@scimaniacthe Netherlands had regulation. They had a functioning government with laws and law enforcement. If the investors didn't get paid according to the contracts, the merchants could get arrested. Not exactly the case with Somali pirates.

@natel9019 Год назад

As far as I knew the stock market was started in the Netherlands then but with the forecast of the Tulips harvests.

@matthewv4170 Год назад

@@natel9019 no your wrong. It's was stocks in a voyage

@jasonjarnet8141 7 месяцев назад

You failed to mention why piracy was so rampant in somalia. After the government disolved the navy, foreign boats would come into somalia's water to either illigally fish somalia's fish or to pollute it by dumping water into it, the pirates came about as a way of protecting their water and they found an economic reason to keep doing it

@cxpeky 5 месяцев назад

This is incredibly important what you just said and should be never missed in video like this.

@jareersmoker1721 5 месяцев назад

@@cxpekyif they have the opportunity to tell the truth but it’ll make Somalis look better to the public or not tell that truth, they’d rather say nothing at all😂. They want people to still think about pirate gangs and War-Lords when people think of Somalia. This way every-time “Somalia” is title people. You’ll get tons more views if they still think it’s engulfed in fire lols

@Yeswecan787 2 месяца назад

@@jareersmoker1721warya Ramadan Mubarak 🌙

@angkarbasil Год назад

My coworker is somali, born and raised Mudug region. He says 100% of public utilities are run by local companies because the Capital has 0 power or abilities to provide them to the communities outside it because of the unrest. Police, airport authority, buses and more are all private and run locally.

@smeshcel3025 11 месяцев назад

And it works good like that for now. Im from somaliland and everybody has jobs and buisness oppurtunities. No one dies of starvation in somaliland. We are picking up nowadays and the government has been building more roads and are developing the infrastructure. They started taking taxes now. I cant wait to go back

@saidiskigaming9056 9 месяцев назад

@@smeshcel3025 you can just somalia 🇸🇴

@mikepastor.k6233 6 месяцев назад

Lol. And the U.S. goes into a panic when there could be a government shutdown. No one would notice a stitch if it happened

@nivekregeelf2091 6 месяцев назад

Sounds like paradise

@MoreSomalia Год назад

Thank you for making this! Great dive into Somalia! With a growth score of 9/10 and the current government war on Al-Shabaab I am hopeful Somalia will rank much higher within the next 10-20 years. A LOT of great things has been set in motion within the past 5 years, and the people are tired of civil war. There is an entire new generation of hungry youngsters, who have seen the worst from their parents generation.

@m.hughmungus121 Год назад

Yah ? Do you know how many *decades* Somalis have been tired of their shothole ? What has been done since then?;

@Cxesar Год назад

You make some great content on insta

@Luredreier Год назад

@@CxesarHe does? English speaking?

@akiim1532 Год назад

@@m.hughmungus121 we have been investing and creating our own infrastructure. communities funding it themselves as well as factories and ports

@m.hughmungus121 Год назад

@@akiim1532 investments return a profit, you realize this ?

@7111mohamed Год назад

Only thing I'll add to the point about the currency is the shilling no longer in circulation as much as before in Somalia. People primarily use American dollars for day-to-day purchases. Also many of the industries are owned by a handful of monopolies. Also a point on instability, agriculture is not as stable as it once was. Having been there myself and talking to a number of the folks in the sector, they pointed to climate change as a major concern. Overall good analysis!

@RoScFan Год назад

Imagine a climate change denialist in Somalia.... amazing to think of stupidity as a western luxury.

@kausthubh Год назад

In this much chaos, they have the time to think about climate change??!?!!

@troyen3869 Год назад

@@kausthubh Agriculture is sensitive to changes in climate, yes. There's been a nasty drought there past five years which has led to food shortages.

@pyroman2918 Год назад

@@kausthubh Well, if your crops have failed and you are starving because of climate change, I think you will find some time to think about it even among all that chaos.

@thinkbeforeyoutype7106 Год назад

WHY does he use typical “poor African” video stock which aren’t even the people he’s discussing about? That’s like me making a video about poor Ukrainians but showing Mongolians footages. You’ve to put better effort in showcasing the people you’re discussing. Also, piracy started when Europeans who depleted their own fishing areas begin to come and STEAL somali fisherman’s only food source while they also dumped toxic waste in the process. The fisherman got together and TAXED those illegal ships but somehow you wanna call that “piracy” huh? You’re just regurgitating the same OLD and OUTDATED western talking points. I bet, you’ll also make a video about how Iraq had “wmd” right? These channels are becoming a joke and western media mouthpieces as they get more views.

@grimmlinn Год назад

It’s not a matter of how functional anarchy is but how dysfunctional governments can be.

@acctsys Год назад

Why not both? Limited government is a thing.

@Mythhammer Год назад

@@acctsys No, sadly its not. "Limited" government never lasts. That is due to human nature and the nature of government.

@CapnSnackbeard Год назад

Anarchy is incredibly functional. Look it up. What it isn't good at at all is goose-stepping, international theft and mass violence.

@acctsys Год назад

@@Mythhammer I understand. Somalia on the other hand learned that lesson the hard way. They could take the straight path when they can.

@kiaranr Год назад

Motivated individuals will self organize in many ways. Gov often inhibits that.

@cameronvincent Год назад

Look at me, look at me I am the captain now

@skp8748 Год назад

Haha so funny... not.

@Connor_Roush Год назад

“Look at me I’m Swedish now” hahahaha!

@TheSwedishHistorian Год назад

@@Connor_Roush wish we never took in africans

@afro_princess1671 Год назад

Not funny

@richardbrady1849 Год назад

I am the economy now

@cooperhawk988 Год назад

Can you do Myanmar? It’s interesting how it’s historically been all over the place.

@beefjerkythesecond Год назад

*Burma

@MSAli86 Год назад

Yeh, highlighting the rohingyan genocide would be of particular interest

@cooperhawk988 Год назад

@@beefjerkythesecond *myanmar

@mummy5490 Год назад

@@MSAli86 rohingya is not innocent at all..they are being deported from malaysia, indonesia , India, bangladesh..all blamed them for crime nd murder...So you can't blame myanmar alone

@kevincronk7981 Год назад

@Cooper Hawk people call it burma because although it's a name given by british colonizers, it's at least a name of the country itself. Myanmar is the name of the literal terrorist organization in power there, so the US governmant, some other governments, and people who don't like terrorism use Burma insteas

@ImTHECarlos98 Год назад

You should do a video on the current economic situation in Cuba. Would love to see how it ranks on the leaderboard, being born there myself. I know there’s already a video on Cuba, but it’s quite old now, and things have changed quite a lot recently.

@ezraclark7904 Год назад

I second this request

@Joe-fk6wz Год назад

Did it improve or get worse?

@colehowe Год назад

I really wish the US and Cuba could move past so much of the problems of the past. Many people in Cuba are senselessly hurting economically because of the poor relations and sanctions :/

@silenthawkstudios9924 Год назад

Unfortunately economic analyses of socialist/communist countries generally aren't particularly reliable as the traditional ways to measure parts of an economy are meant for a capitalist system. A good example of this would be how everything seems to think China is lying about it's GDP figures, while in reality those GDP figures are GDP targets set in advance.

@citizenkane2349 Год назад

@@colehowe Nah, they don't need the help from the evil capitalists.

@neverlookback1244 Год назад

As a Somali thanks for covering our economy everything said was spot on,our biggest obstacle is security once we get rid of it we’ll develop fast.

@raashidiinabdullahi5583 Год назад

No its clanism

@gureygurey8475 Год назад

What are you on about? He made several mistakes

@liibaan2000 11 месяцев назад

You’re woefully confused about your own country if this was spot on to you.

@TheQuranExplainsItself 11 месяцев назад

@@minki46664 he’s Somali too.

@gureygurey8475 11 месяцев назад

@@minki46664 liibaan is a somali name so yeah, there's that...

@ish8891 Год назад

No mention of Somalia’s telecommunications industry? Considering the volume of transactions and transfers of money that are completely cashless, as well as the development in this particular industry in comparison to the rest of the African region, this should have been mentioned. Also, about the currency, nobody even uses the somali currency.a very large number of transactions are done in dollars and this has been the case for an extended period of time. No mention of this either. The research depth for the video is somewhat disappointing.

@sojourner99 Год назад

I watch a lot of videos from creators like this. They are useful and informative to get general sense of things on a topic, but you are correct, they lack really in the weeds info. I still find them useful I just acknowledge that they are probably missing some details.

@AvoidTheCadaver Год назад

can't expect a deep dive in a 16min video. In the broader world, there would be a big segment of of people whose knowledge about Somalia probably stopped growing after the Battle of Mogadishu

@aaanawaleh Год назад

This is a general problem with edutubers like EE or Wendover Productions. They give very surface level takes and they don't have the knowledge to go deeper. Anyone from Somalia or who's been to Somalia can tell you about Zaad, Dahabshiil, Premier etc that are used to transfer money by phone instead of cash but these channels are a bit clueless besides the most publicised and famous issues.

@matthewv4170 Год назад

@@aaanawaleh there audience is Americans. Most Americans think Somalia is in the Carribbean because there's pirates there

@ianwoodaudio Год назад

@@AvoidTheCadaver until I saw this video, I knew nothing of the post battle of Mogadishu country

@aroto Год назад

very interesting video thanks. I saw many people recommend this country here in the past so it's nice that you listen to your subscribers, keep up the good content

@coleglee6912 Год назад

I am always interested EE content and hope he continues his great work

@user-nc4mv1iz3w Год назад

Awesome video! I've been a fan of Economics Explained for a while now, and I must say, your content never disappoints. The way you break down complex economic concepts and make them accessible is truly commendable. I wanted to reach out with a suggestion for a future video topic: the economy of Albania. Albania's economic landscape is quite intriguing, especially considering its transition from a communist regime to a market-oriented system. It would be fascinating to delve into the factors that have shaped Albania's economic growth, the challenges it has faced along the way, and the potential opportunities that lie ahead. Covering the economy of Albania would not only provide valuable insights into this unique nation, but it would also shed light on the broader dynamics of transitioning economies. I believe your expertise and ability to explain complex topics would greatly benefit viewers seeking a deeper understanding of this lesser-known economy. Thank you for consistently producing engaging and informative content. I'm eagerly looking forward to your future videos, including one on the economy of Albania. Keep up the excellent work!

@ecoideazventures6417 Год назад

It is surprising to see Somalia is having a better functional economy than South Africa!

@Walmart1 Год назад

The Somali diaspora in South Africa are some of the richest in Africa also crime is lower in Mogadishu than in Cities like London.

@mesa9724 Год назад

@@Walmart1 That’s completely false. Mogadishu is the second most dangerous city in Africa, with homicide rate at 73.8 per 100,000 persons which is ridiculously high.

@adamsaciid4919 Год назад

@@mesa9724 that's nonsense 😢 came muqdisho and you see your self

@mesa9724 Год назад

@@adamsaciid4919 I don’t need to and I don’t want to go to that shithole. Just look it up online lol.

@YungPickleDaSour Год назад

@@mesa9724 from personal experience, that is definitely not true.

@Knowitallhistorian Год назад

This channel always finds new ways to impress. Giving us headlines from 6 months in future!

@chrisn5956 Год назад

Noticed that too and instantly searched for the comments :D

@stoicman31 Год назад

I’ve been waiting for this one all my life.

@GTM9164 Год назад

Somalia actually uses mobile pay alot bc of cash is hard to get and not always worth a lot.

@mohamedabdukadir3271 Год назад

Not really, the telecommunication companies brought the mobile mony to the country and people love it because it is much safer and easy to carry money.

@___Truth___ Год назад

Yeah just like @mohamedabdukadir3271stated, it's the Somali telecommunication companies that are the basis for electronic money transactions, its dissappointing that EE didn't mention this since the Somali Telecom companies in addition to the Somali Banks that's basically been the only industries to survive throughout this time as being the main reason why things like Remittance is even possible.

@majidelmit2326 Год назад

@@mohamedabdukadir3271 safer in what way? I personally thing it’s dangerous since it facilitate Al Shabaab

@emceeboogieboots1608 Год назад

What currency do they generally use?

@abdirahmanhassan1848 Год назад

@@emceeboogieboots1608 USD

@MrZoomah Год назад

Just like to point out the reason for the Somali pirates lays with many of our countries. In Australia, fisherman from Geraldton and other towns would go to the fishing waters near Africa in the off season and pillage their waters. This lead to a huge decline in fish and their fisherman couldn't exist. They were forced to defend their fishing waters. One fisherman I know had weapons on his Australian boat in case he caught a 'shark.' The fisherman defending their waters ended up becoming their first pirates. Western fisherman, many multi-millionaires, created this industry.

@oneshot2g 11 месяцев назад

I was coming to post this also. Chinese ships have been stripping Africa of it's fishing stocks. In Somalia it was outrageous, they were actively fishing in Somalian waters.

@hu6284 11 месяцев назад

Exactly, it quickly became profitable seeing how quick the payouts were from insurance companies and worried families usually with billions of net worth.

@koharumi1 9 месяцев назад

Geraldton?

@CalamityJay-ez2mq 7 месяцев назад

Similarly Somalia and most other African nations have been at the mercy of mining and oil companies since gaining independence, piracy is a pretty natural response to the plunder of a nations wealth while it's native population starves

@-bubby9633 7 месяцев назад

Yawn

@codewebsduh2667 Год назад

A large amount of the pictures of people in this video is not in Somalia. It's like showing Japanese pictures when talking about Korea.

@jju7469 11 месяцев назад

I've learned so much from this video correcting my previous beliefs about Somalia. Thank you 🙏🏽

@standowner6979 11 месяцев назад

Some of the things they talk about are not true though

@MaybeDay4 10 месяцев назад

Don’t take this as somali Wikipedia 😂

@theraven6836 Год назад

“A small, diplomatic fortress”. Wow.

@infidelheretic923 Год назад

Wanna talk to the US? Come in here. Alone and unarmed.

@countcryptonite Год назад

The US has several military bases in Somalia. The main one being near Mogadishu (baledogle) where they have stationed US drones. The US also has 700 military personnel in Somalia. Trump has ordered the military back but Biden has returned them all. It is a strategic base in the Horn of Africa. So no its not a small diplomatic fortress but has quite a size. Besides the US the UK has a military base, Turkey has a military base and their largest embassy in the world. The UAE has a base where they train the Somali military and all the contributing AMISOM countries have a militrary base. As for embassies. There are a lot of foreign embassies stationed in Mogadishu. Most of the western embassies are based in the Halane area of Mogadishu

@RussellNelson Год назад

Not the only country that has a diplomatic "fortress". Go visit the US Embassy in Istanbul.

@infidelheretic923 Год назад

@@RussellNelson You’d think there was a risk of high explosives going off nearby or something. Lol.

@dev.0122 Год назад

I love this channel! It has taught me so much. Though I have request, I remember a video on Saudi Arabia and its project Neom. There, you mentioned PPF curves and factor endowment theory ime how a country may run out of land before capital etc. I would love it if you could incorporate some of these macroeconomics concepts like that in the video so we might learn something more substantial. Thanks again Man

@MaybeDay4 10 месяцев назад

Please do not learn from this channel they are cookie cutting information

@CRneu 10 месяцев назад

@@MaybeDay4 you should post some examples with sources to prove your point.

@Libertarian1111 Год назад

I could see that you're in middle of doing an episode on Poland, and as I am very interested in eastern Europe I am really looking forward to that I would also like to make a suggestion, that you do an episode on Poland's northern neighbors, the Baltic states, as they have had an amazing economic transformation over the last 30 years

@komiks42 11 месяцев назад

Our economy is held together by ducktape. With currently gov, i can really see reverting to the status from 1980

@Libertarian1111 11 месяцев назад

@@komiks42True, nothing is perfect, and there are always periods of ups and downs in an economy, and the Baltic states have certainly had it tough lately (Ukraine, tax hikes, etc.). I really hope your gets over the current problems. However, it is important to recognise how far the Baltic states have come since regaining independence in 1989 and the subsequent chaos in the early 1990s.

@jamesliston5693 11 месяцев назад

Eastern Europe wouldn't have been where they are if it wasn't western Europe's taxpayers money 🤑

@Libertarian1111 11 месяцев назад

@@jamesliston5693 Estonia never received much money from the European Union, and certainly didn't build itself up on EU finances, and have nearly always had a budget surplus, meaning that the government collects more in taxes locally then what they spend

@EarnestBunbury Год назад

The controversial German constitutional theorist Carl Schmitt had stated: “Sovereign is he who decides on the state of exception.”On the one hand he's regarded very critical, as he was part of the Nazi regime. On the other, he had identified many important mechanisms in law. His theories were even used, when Israel wrote its constitution.

@donaldmcronald2331 Год назад

I‘ve heard about his quote about recently, but I didn‘t know his contributions to economics.

@OzyTheLast Год назад

Israel has a constitution?

@jackcohen4931 Год назад

Israel doesn't have a constitution.

@dieptrieu6564 Год назад

Not all nazi are bad people.

@andrewjgrimm Год назад

@@OzyTheLast it has a Basic Law.

@izzie.12 Год назад

None of the stock footage of this video shows real Somalis. I guess none of the stock photographers or video makers were willing to take the risk.

@zacharywong483 Год назад

Nice video, Economics Explained team!

@haydenanderson245 11 месяцев назад

This is a good channel! Very informative!

@natedcarr6148 Год назад

9:53 I am very impressed with EE's reporting. They're even able to pull articles from the future. (Dated 06/06/2023).

@joaovitormatos8147 Год назад

10:07 wow, you guys managed to print a story that wasn't published yet

@emceeboogieboots1608 Год назад

Nice pick up😁

@Articulate99 Год назад

Always interesting, thank you.

@ronlevin2339 Год назад

I think you should do economics for Taliban, Hisballa and Hamas

@yunnan9109 Год назад

Could you do videos about southeast asia? starting alphabetically would be great! a region that are quite important yet barely talked about :)

@fubytv731 Год назад

Yeah, EE has been neglecting this region

@1x0x 11 месяцев назад

@Zaydan Alfariz the winner of what...? indonesia, thailand, malaysia.. all massive economies that should be talked about.

@DukeDevlin1 Год назад

At 10:03 the OECD headline about foreign aid surging due to Ukraine has a date of December 4, 2023. 6 Months in the future. Looking forward to seeing it in the end of year blooper video. But genuinely, thanks for the videos and content. Always a great watch and interesting lessons to take.

@TheBFT 11 месяцев назад

I was looking for this comment.

@andypandy53 9 месяцев назад

@@TheBFTsame

@bender9222222222 11 месяцев назад

This channel is absolutely off the rails.

@warsamaosman0894 Год назад

I live in hargeisa Somaliland, and the electricity price is $0.73 pkwh. The water price 1 cubic meter is 14500 Somaliland Shillings $1.70. The exchange of US dollars is $1 = 8500 Somaliland Shillings.

@ethribin4188 Год назад

Somali is one of the most interesting current economies. As bad as its situation is. Its still very interesting.

@rameshchennai6746 Год назад

Best quality channel no doubt 🎉🎉❤❤

@joaoalbertodosanjosgomes1536 Год назад

❤❤

@abdikariimabdullahi9493 Год назад

As an economics student from Somalia, the most pressing issue is stability. if we can manage to establish a stable government and reduce anarchy, Somalia will prosper thanks to its strategic location on the Red Sea & the Indian Ocean plus the entrepreneurial spirit of its people.

@dr94279 4 месяца назад

I think it’s clear that Somalia doesn’t need a government

@AlanTheBeast100 Год назад

Need to look into how other countries fishing in Somali waters robs Somalia of that resource and is thus a contributor to the piracy problem.

@billeldztech Год назад

Hi thanks for the video, I was wondering can you do a video covering Algeria i think it might be an interesting video and thanks for the content

@baroiall9968 Год назад

Being a Bangladeshi, I'd love to see you do a deconstruction of the Bangladesh economy, and maybe give some suggestions to make the economy grow/improve faster and more effectively.

@beatrizcascelli Год назад

Great video!

@FREDDYPACKS Год назад

Please look into and do a video on the economy of BOTSWANA? I would like to see you rate it in your board.😅

@The2wanderers Год назад

It's so funny to me that the travel warning is basically "get your affairs in order," without distinguishing Somaliland where the currency exchange guys literally leave huge amounts of money sitting around unlocked while they go to prayer.

@jonathanbaudier4665 Год назад

Your next video should be about Belgium and how it fares with or without a government 😅

@enriquebuitroncruzalegui5951 Год назад

I would love to see what you have to say about peruvian stable currency, slow but steady growth and political chaos

@MrForeveryoung201 Год назад

@econmics Explained, can you do a video of the Soviet Union Economy at its peak? It would be interesting to see.

@amorosogombe9650 Год назад

The pirate stock exchange was epic. Initial Pirate Offerring. 😂

@whhhhhhhhh 11 месяцев назад

The way you emphasize the last words in your sentences is interestiiiing

@whhhhhhhhh 11 месяцев назад

EconomeEeE

@alansaxena7934 Год назад

This is a fascinating video on a country we don’t hear much about. Good job EE

@joe_z 11 месяцев назад

Man, that 9/10 on growth really carried Somalia on not being in the bottom spot.

@TheBunnan Год назад

Great episode, it's strange that most of the articles you quote round 10 years old though.

@keshavkhanna6028 Год назад

This is your best video yet

@nocapnobs7845 Год назад

Because it is all fiction you would think Disney put it together. I loved it, cute stories and plenty of lies.

@moletrap2640 Год назад

At minute10 you show a report from the OECD dated December 4, 2023. I want to know how you got your hands on that. 😊

@IbrahimMohamed-hr2so Год назад

I have been requesting a video on Somalia for a longtime and at least a little on the economy on Somaliland, a unrecognized country inside Somalia

@Atherion8 Год назад

Somaliland is not “an unrecognised country in Somalia” it is a region of Somalia.

@phobia7347 Год назад

Sorry to break it to you, but Somaliland is even poorer, it only fairs well with stability.

@Lowseeds Год назад

A piece of a sececconist cell has another secessonist cell inside the (SSC), have a taste of craziness I guess.

@nathanngumi8467 Год назад

Very interesting!

@oluwatomiochefapohunda8695 7 месяцев назад

Hi! This is very excellent work for a country which was quite difficult to collect data from. Can you do one for Nigeria?

@fredrickrari9338 Год назад

Looking forward to see the economy of kenya

@ehsansalah-ud-din7568 Год назад

Since the leaderboard is updated after every other video. How about giving a link to a spreadsheet that gives the entire list for us to see.

@erichlf 8 месяцев назад

I think it would be interesting to speak about the rental markets in places like the Netherlands, where it is very difficult to rent an apartment. I'm very curious why this situation exists and why it doesn't seem to get fixed.

@notannie4798 7 месяцев назад

I read about it and here are some of the reasons: - Very small country - One of the most urbanised country (at least in Europe) - The companies (and especially universities) love to make publicity abroad and to bring more and more young workers and students (especially students) without caring whether or not the students will have a place. Many end up paying at least one year of study fees before leaving the country to not be homeless - finally many big companies own apartments, building and houses without renting them (for long term profits) thus furthering a scarcity of affordable decent housing (similar situation in the US where you have at least two times more vacant houses that no one uses than you have homeless people) In conclusion: logistics and greed from capitalism

@robertsossi3186 Год назад

I'm surprised this economics explained totally overlooked one of the main factors for Somali Economic growth: remittances.

@dand2810 Год назад

This is the first time I've heard someone saying Krugman is a respected economist

@Bolognabeef Год назад

What can you expect from someone that ranks the BRICS higher than Israel, loves Keynesianism and never mentions free markets even when it's most obvious it should be mentioned

@MathewRenfro Год назад

"respected" by whom? People can be easily misled, misinformed. He's respected all right just not by anybody who understands economics. Even college-educated economists can misconstrue popularity for legitimacy. I know many professional so-called doctors, with degrees and licensed to operate, who I would not trust to prescribe me an aspirin. Many, many professionally trained economist have driven whole Nations into poverty. *See any centrally-planned Communist economy as an example.

@americameinyourmouth9964 Год назад

Because he won the Nobel prize in economics in 2008. But this channel isn’t a historian either falsely saying Siad Barre was supported by the USSR after 1977 Ogaden War.

@walkingcarpet420 Год назад

Ya, everyone that knows Krugman knows that he is a clown!

@NovaHessia Год назад

One slightly morbid thought I have about this: Historically, the common people did economically well after large losses of population, as the price for labour went up, and there was less strain on resources, especially farmland (the central economical consideration in a subsistence agriculture economy). And even before the Somali central government just evaporated, the civil war was a giant blood letting, including a targetted, concerted genocide claiming 50k-200k people by itself. I wonder if that as well had an effect on the relative economic/HDI prosperity during the anarchy...

@Baebon6259 10 месяцев назад

Genghis killed so many people during his time that he actually helped cool down the Earth by a degree. As morbid as it sounds, the Earth is due for some culling to take place whether it is natural disasters, diseases and war.

@user-uf4rx5ih3v 10 месяцев назад

This does happen but not necessarily all the time. Sometimes a loss in population can push a society to collapse.

@alexeades33 Год назад

9:58 Wow, an article from the future!

@ahmedceymis2708 9 месяцев назад

Thanks 🙏 mate

@HatedAlways Год назад

Can you examine the Central African Republic?

@adamcetinkent Год назад

Cars depreciate rapidly

@Brownyman Год назад

Rojava in Syria and Cherån in Mexico are two other anarchist societies worth checking out.

@cardenas8995 11 месяцев назад

Those experiments of libertarian socialism have nothing to do with this failed african country

@Darklord1201FTW Год назад

Can’t wait for the Poland economy video to come out!

@GeDruchy Год назад

You must have great sources and researches; how did you get that OECD Foreign Aid article for the future?

@johnro8ot 6 месяцев назад

Paul krugman is one of the most boneheaded and controversial economists with down-party-line (liberal) economic ideas. I wonder if he’s a good choice for citing economic ideas…

@spiffyracc Год назад

Somali piracy wasn't an example of what happens with no government interference. Other governments prevented merchant ships from effectively arming themselves or hiring somebody like Blackwater or Wagner to provide a solution.

@aierce Год назад

Im not surprised. Take boarding planes for example, our current "group x now boarding" is much slower than no control at all, everyone just randomly line up.

@sourabhmayekar3354 Год назад

Good job

@meltossmedia Год назад

Economics Explained ha burburto, it means it is a good channel ❤

@joaoalbertodosanjosgomes1536 Год назад

❤

@krooscontrol9019 Год назад

😂

@zakariaabdimohamed7063 Год назад

Nacalaa shydan kuyaal😂😂😂

@user-cc1so5tq2p Год назад

Can you make a video on Bangladesh ?

@bigsarge2085 Год назад

Interesting.

@charliepayne4033 Год назад

10:06 i love seeing headlines from the future

@lordr1800 Год назад

its funny, the dutch east india company seemed to operate with a similar principle in funding voyages. i imagine you made more at its height on this than anything else in somalia, which is sad.

@TheEndermanNestGPage 11 месяцев назад

its so weird that they don't use any actual footage from somalia but just random other african countries

@JosiahTaschuk Год назад

Would be interested to see a video on Haiti.

@staninjapan07 Год назад

fascinating and surprising

@sheldoniusRex Год назад

Fun fact. There is million dollar real estate in Mogadishu.

@khalidahmed4906 8 месяцев назад

Average modern apartment costs 350k dollars. 20km Outside of Mogadishu homes go for 70-160k dollars.

@americameinyourmouth9964 Год назад

5:55 Wrong. Siad Barre’s regime lost support and aid from the Soviet Union after the USSR sided with Ethiopia in the Ogaden War in 1977. Siad Barre had to turn to the IMF.

@blumoogle2901 Год назад

For a country like Somalia, it might actually have been quicker, easier, faster and more stable to literally start over with literal feudalism, a thousand small Lord's with local armies and very strong powers balanced against a king with strong powers, and aim for a parliament. You can think about Democracy after you have stability. This is even a situation where hard metal currency give more benifit than drawback, and with the inflation what it is, it's already mostly in a gold and silver equivalent economy anyway.

@user-dz4eb5rb3g Год назад

Eeew

@___Truth___ Год назад

Somalis have always operated on a basis of basically confederalism, there's a deep cultural reason why there has never been anything akin to a "King of Somalis", and that is because even though Somalis are a unified tribe like how Somalis are one of the Major Tribes in Ethiopia, Somalis are stratified in terms of Clans, which are basically an organization of very large Somali families that are linked together by Ancestral Lineage and Ancestral Territory, Somali Clans deciding to come together are fundamentally the reason why Somalis have developing a Federal System now.

@lloydgush Год назад

Isn't that what happened? I joke it's ancapstan, but it's more like feudalism.

@mohamedhussein4124 Год назад

Hyena’s never a pet government shouldn’t get involved with people business one reason why 50 years old Americans peasant are homeless because they allow government to feed them.

@___Truth___ Год назад

@@lloydgush The clans own the territory not something like feudal lords, the clan families don’t have a leader instead it’s actually something like a democracy where they come together to form a government that does their bidding.

@blava3155 Год назад

4:43 You gave the TRNC the area in the south East after the blue line which is actually controlled by the Republic of Cyprus.

@ThijsSchrijnemakers 4 месяца назад

Thanks

@benm3382 Год назад

My grade 11 Social Studies class had a project where each person had to present a different African country, which I thought was a great idea since we never learn enough about the individual countries and their history. But I was assigned Somalia and it was almost impossible to answer the questions since it's basically just a moving anarchy!

@BeatlesBowieKrimson Год назад

How long ago was that?

@akiim1532 Год назад

it’s not in anarchy anymore it’s not the 1990s anymore

@fmjjjjn7510 8 месяцев назад

What do you mean by moving anarchy?

@thezu9250 5 месяцев назад

Somalia has a rich history and it wasn’t in chaos this whole time. There are lots of fascinating civilizations.

@yosarouto Год назад

please do a Tunisia video

@tylerhackner9731 Год назад

Interesting

@bhaveshgamara Год назад

Kindly make video on the Indian economy really needed from your side

@williamjones2596 Год назад

It shouldn’t be surprising that a more-or-less stateless society would have a vague resemblance to a successful market economy. At least, more of a resemblance than you’d think. Maybe it’s the case that, while you can’t get any more unbalanced on the chaos side than anarchy, there is no limit to how unbalanced you can get on the order side.