What Makes An Economy Grow 

Right!

Me too

Me 3 ​@@anunzorigt2125

Scarce resources of what? Wood? Plant more trees. Iron? We’ve barely tapped anything in just the crust The myth of scarce resources is for authoritarians to control us in what they deem “sustainable” when really there is no sustainability problem to be had

Simple, for this online shopping cannot be a things, this video is talking about about trading (buy, shopping ect) so for that you need to give something to someone , If u can't go outside you can't pay the shopkeeper which to you not having food ,and leads to him/her not paying "bills" or tax so that money can't go to the government to be given back to your boss (assuming u can go too work) to give back to you , im not an economist but this is how it looks to me

the grass

stonks

cause the supply is controlled 6.25 bitcoin per 10 minute which is the time to generate a block and not mass printed like fiat currencies. and also it halves every 4 year , so 2024 , it will be only 3.25 bitcoins per block and so on bitcoin supply are limited. it capped to 21M , 19 million has been mined and 8 million are lost

It all boils down to harvesting natural resources (energy, food, materials)

It's unsustainable if people have jobs without being able to add value, it risks whole companies. They should have the chance to work where they are needed.

The video comes off as very anti-socialist and extremely pro-capitalist, even if both systems can work very well A planned economy, following the same principle, can make everything work as well, perhaps even better than a laissez-faire Economic growth is possible only when you start regulating how much people can abuse the work of others (minimum wage, for example, makes a better economy over time, as we can see from history: after the plague in the 1348, the economy became much better because people started getting paid more and could buy more) Without regulations we'd go back to a very simple self sustaining economy like in medieval times

its just an example from a video made 8 years ago. relax

Maybe the profit is not relevant to the growth of the economy, just the products produced.

use the ones he already had i guess

@@NoobaKid then there is no point to pay the cutler to make a new knife if he already had some.

Dell I guess your right 🤷‍♂️

But he had 100 dollars to pay for the knife and make the steak. The cow he killed with his bare hands and the dollars he robbed from a nearby planet

@@Pedro-ds3cq yeah. where did the FIRST 100 dollar come frome?

Then make your own video :-) I dare you. One Love.

badum tis!

It's 6 monutes

It made some people laugh, probably lightened up the mood of some and made them smile a little, which could actually increase productivity. See? That's value

They add the value that an anxious autistic with adhd can actually stay engaged with the damn video

Humans started to become more intelligent and make new discoveries and inventions. But one person can’t do everything. To make it simple each person would have a part to play in this world in order to benefit each other. So each person would be taught how to do their part whether they chose that part or not from what the previous people have learned. That is called a job. Eventually as humans evolved and new discoveries and inventions were made which makes more jobs so all people had to get a job to contribute and benefit themselves. These jobs benefit each other. Some examples of jobs are Doctors, Police, and emergency services all help people from harm. Farmers grow food which we need to stay healthy. Entertainers like actors and comedians make us entertained. There are many more jobs which you probably know of which contribute to the world/country/society/organization/people today. That’s how this system has evolved to today.

government, you know money is illusion it has no value. it just used to makes economy running

the video also explain about how GDP works. GDP=consumer spending+investment+government+(export-import) so in this video. 600=500+0+100+0

@@N0URii how did the government get it? Just by printing notes or some mathematics?

@@kvs123100 printing money

printing money seems bad, but small amount of it actually could make economy grows. like on this video, that 100 dollars could be from the government printing money that leads economy to growing

Currency or money just got added to it to make it easier. That’s at least my interpretation.

It's a cycle. That is why the poor stay poor and the rich stay rich.

Nicholas Kiwanuka there is only 1 true way to improve the economy (in my opinion) and that's using the solow model. basically what you want is a golden rule steady state. there are 3 factors to consider here: 1) depreciation of capital, 2) the rate of population growth, and 3) the rate of technology aqcuisition. to achieve a steady state we need to save enough money in the economy to replace depreciated capital, to make more capital to keep capital per person the same as the previous year and also to facilitate the rate of tech aqcuisition. now this is great because these cover the two ways to increase gdp. gdp can increase by population growth (more people = more stuff to consume) and by technology (since chopping a tree with a chain saw is much faster than a hand saw). by having a high enough savings rate we can make sure that there is enough capital to cover these. however, having the highest level of savings or the highlest level of capital will not mean you have the most optimal economy, therefore you want to use the golden rule steady state, which is basically a condition where you use steady state but you also maximise consumption. this give your economy the most optimal level of saving while keeping the people happy enough to enjoy their income. so to have the best gdp per capita you need to focus on technology aqcuisition and to have the largest economy you also want to have a hugh population growth (usually through immigration).

@@monjier but the most rich countries per capita are actually small in population

@@ozymandias8523 precisely. That's exactly what I have said previously. The richest countries per capita are all highly developed (technology development is very high) and consumption is maximised (this makes people happy and gives the best marginal GDP returns when allocating income/resources in an economy). Now, if you're talking about national gdp and who has the biggest economy, you actually need to increase population whilst maintaining savings rates to counteract capital depreciation, technology acquisition and population growth. All these factors combined will net you either the largest per capita income OR the largest GDP in the world. Smaller countries find it easier to acquire technology, meet the necessary savings requirements, and maximise their consumption.

@@monjier from where do they get the " means" of consumption in the first place? past savings?

@@wy7128 from a macro economic perspective, anything which is produced and is traded is assumed to produce income (for at least one person).

Are you tryna strike a chord?