Economics Explained

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Taiwan is More Than Microchips and Tensions With China Jul 26, 2023

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When people think of Taiwan, they mostly think of tensions with China and the fact that Taiwan is a major manufacturing centre for the world's semiconductors. But Taiwan's leaders actually made some big bets decades ago that are paying off now, with a GDP per capita roughly 3 times that of mainland China.

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Why Inequality Starts Becoming A Problem Now Jul 20, 2023

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The global wealth disparity has been greatly exacerbated by the pandemic, and there is a concentration of wealth among the top 1.2% of people. We explore factors causing inequality, the role of debt, and finding an optimal level of inequality (because you do need some).

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Global Wealth and Global Debt - Interview with Jason Furman (Harvard University) Jul 14, 2023

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Global debt has now topped $300 trillion USD, or three times total global economic output.

This is a number that is going to have very real consequences for billions of people around the world, but as scary as the number sounds there is still reason to be optimistic and there are still reasons why most economists handling this issue are not too worried just yet.

To help us understand this issue in the course of our research we were lucky enough to speak to Dr. Jason Furman an economics professor at Harvard University and a former economic policy director for the Obama Administration.

His understanding of an issue as large as global debt is truly valuable not only because of his impressive academic background but also because he is one of only a handful of people in the world that has ever had their hands on the proverbial controls of economic policy at this scale.

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What Everyone Gets Wrong About Global Debt | Economics Explained Jul 09, 2023

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Is the global debt of over $300 trillion really a problem? And does debt for the global economy work in a different way from debt on an individual level? In this video we'll explain who holds all the debt that countries and businesses owe, and whether this will be a big problem in the near future.

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Are We Overeducated? Economics Explained Interview with Prof. Billari (Bocconi University) Jul 04, 2023

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This is a fantastic interview with Prof. Billari (Bocconi University) about education. A better educated economy is usually better, all things being equal, but issues like student debt, skills misalignment, migration and brain drain can put a lot of pressure on an economy.

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Why More Education Is Not Always Better For The Economy Jul 02, 2023

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Education is rightly seen as one of the best ways to develop a country’s economy, as more productive workers can create better living standards for everyone. But is there a limit to the benefits of education and should countries be wary of this double-edged sword?

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Why Is Europe's Economy Always Lagging Behind The United States? Jun 27, 2023

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The US has had a much greater level of growth than the EU in the past decade despite the pandemic and Europe having a large collection of advanced economies with highly educated populations. Why is Europe always lagging behind?

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The World's Smallest National Economy Will Soon Disappear Jun 20, 2023

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Tuvalu is a tiny island nation confronting existential threats. Rising sea levels jeopardize its sparse population and limited economy. As the nation becomes inhabitable, this video will explore what the economy of Tuvalu is reliant upon, and the measures to save it.

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The Pathetic Economy Of North Korea Jun 15, 2023

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North Korea, the most closed-off country on earth. This Asian nation is often the center of intense scrutiny for its aggressive displays of militarism, its internationally condemned nuclear program, and of course its oppressive government dictatorship. A 2014 report by the united nations concluded that the gravity, scale, and nature of these human rights violations does not have any parallel In the contemporary world. What they are ashamed of though, is something that all these media spectacles help to distract from and that is their incredibly small and pathetic economy. Beyond the dramatic chest-beating and despite all of the opportunities this country has been given it has dwindled into complete economic obscurity and in this video we are going to explore why.

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The Bitter Economics of MLM Jun 07, 2023

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Multi-Level-Marketing (MLM) companies are big businesses around the world and they have rightfully attracted much criticism for questionable business practice. Many have called them illegal pyramid schemes, but today these companies continue to operate in most developed countries around the world and rake in billions of dollars in profit in any given year all with the blessing of local trade authorities. So, what are these businesses? Let's park personal opinions on how annoying it is to be roped into one of these MLM meetings for the moment and assess the fundamental economics behind this business model.

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