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Ecnomic Explains Do u have the guts to give solutions on how to make America health care affordable ????in capitalism way Pls make a video about it....
Could you make a video explaining your opinions on there always evenutally being a limit to our resources? Scarcity? I ask because as we strive to create technologies that help us become a sustainable (and space fairing) species, the scarcity argument (theoretically) should greatly weaken, if not disappear. We have food for everyone, now. We just choose not to design systems to allocate the food to who needs it. Throughout history there has forsure been a zero sum game throughout most of history. But with modern industry, agriculture and medicine that is no longer true. The more we pretend that scarcity continues to rule all that we do, the more we excuse ourselves from taking the necessary steps to solve them.
The idea that all human beings are impossible to satisfy seems like a very questionable principle that's never been proven. Sure some billionaires keep buying more, but there's also probably many millionaires you've never heard of who are quite happy with their lot in life (indeed, it's even been shown that happiness from wealth tends to plateau after a point - at about 100k/yr in the US iirc). Also consider that we have an entire industry that's had to arise (and grow to massive proportions) almost entirely for the purpose of getting people to want more - marketing. Marketing first arose just to make people aware of a product, hence why old ads tend to be very functional and feature-centric, but it's long since left that role behind and now is all about stimulating demand in a public that they're all afraid might not want their products enough without ever more prodding. And then we even have some companies *cough Apple cough* going even further by virtually forcing customers to buy more via planned i.e. artificially created obsolescence. All this and more seems to question the idea that we're all truly impossible to satisfy. Which, as the central problem of economics, calls into question the very foundations of the field (much like high human rationality used to be so central to economics, until they finally grudgingly accepted it was very very very wrong).
@@MySparkle888 Meanwhile the Koch brothers: "Hmm... Why do I own only about 52 of the 100 senators in here? Why won't those stupid Dems take my oil money?" Meanwhile Bloomberg: "Why won't those stupid Republican senators take my business money? I must own ALL of them, not just those loyal Dems!"
@@EconomicsExplained plz do one on aincent india their are several indian era from indus to mayura ,gupta and many more do any of it but not mugal because its extensively covered and pre mugal India history doesn't get the credit it deserves
@@EconomicsExplained Mongolia would be good. As they only cared about conquests eg. Once conquered they allowed self governance and religious tolerance but they took the best engineers mathematicians etc back to Mongolia
The idea that all human beings are impossible to satisfy seems like a very questionable principle that's never been proven. Sure some billionaires keep buying more, but there's also probably many millionaires you've never heard of who are quite happy with their lot in life (indeed, it's even been shown that happiness from wealth tends to plateau after a point - at about 100k/yr in the US iirc). Also consider that we have an entire industry that's had to arise (and grow to massive proportions) almost entirely for the purpose of getting people to want more - marketing. Marketing first arose just to make people aware of a product, hence why old ads tend to be very functional and feature-centric, but it's long since left that role behind and now is all about stimulating demand in a public that they're all afraid might not want their products enough without ever more prodding. And then we even have some companies *cough Apple cough* going even further by virtually forcing customers to buy more via planned i.e. artificially created obsolescence. All this and more seems to question the idea that we're all truly impossible to satisfy. Which, as the central problem of economics, calls into question the very foundations of the field (much like high human rationality used to be so central to economics, until they finally grudgingly accepted it was very very very wrong).
China as well. And on a smaller scale, lots of manor economies. These dudes had their particular season. Sometimes they use troops as labour. A chinese or french soldier is a potential labour reserve after all.
@@evankurniawan1311 Yeah, they can basically count on bleeding you dry until you can't carry on the case. On top of that, the judges will almost always rule in their favour. On top of that, they could probably just have you killed and no one would believe that a US senator was behind it.
@@DrZeeple The difference is that China isn't pretending to be the epitome of freedom and liberty. If the US would admit that they were average at best, then they wouldn't get called out for it.
@@adamcetinkent 🤣🤣 He's *LITTERALLY* _Mummified_ and placed inside a *Coffin.* Although... sometimes his servants are entombed with him. But then again... You're talking about a *PHAROAH.* _(Not a King)_
Outstanding video! The puns were on point and I felt like I learned a lot. You have definitely been getting better and better at making these videos lately!
the problem isthat modern peple, cant learn from what happen two weacks ago, and cant learn the history of theirow nations, you are asking them to learn from the first civilization, not to mention, that as soon, you said, we should learn from acient egypt we should learn from the roman empire or roma republic, we should lear from medieval knigths, you will alwas ALWAYS,come with the, oh no they were slavers, they were sexis, they werent diverse and bla bla bla. Those who fal to learn from history are destine to repeat it , soething tell me we wll never learn
Great video! Just a note: in the last 10 years or so there’s been a lot of evidence that the pyramid builders weren’t slaves but highly privileged paid workers. Entire towns were built to house them. Not sure about other projects though.
As a kid in the 80s I was told that the workers barracks found nearby contained remains of alcohols and quality pottery, so it has been known for a long time, not just the last 10 years.
@COMMIE life was only hard by modern comparison, I am sure people today will find life "hard" without their paved roads, electricity and warm tap water. If everyone lives in a desert with no food, then its equally hard on everyone and thus hard on noone, you just deal with your circumstances instead of making up scenarios in which you have ice cubes, indooor lighting and refrigeration.
@COMMIE Yes I think it was harder but I had to laugh about the videos comment about air conditioning. I grew up in 30c+ weather and didn’t have AC until 2010. Hunter gatherers likely had more free time than most of us. Lack of modern medicine would have sucked though.
Finally! Someone discussing Ancient Egyptian labor and work force actually mentions the Annual Nile flood Corvée system. So many videos, and even official Discovery and History channel documentaries, inexplicably leave out this critical information. They make it sound like there was always some separate work force toiling year-round to erect the monuments, infrastructure, and temples during that LONG period stretching multiple millennia. I'm always left baffled about the failure to mention the Nile flood, and what that meant for the grain, chickpea, and barley farmers who depended on their floodplains getting a good inundation. For the sake of all the industries ancillary to those main staple crops. (Barley for the breweries, wheat for the bakeries, and straw for the cattle ranches, all going to the localized granaries and eventually the markets. Keeping the agricultural heart beating for the population while the idle farmers worked on the Pharaonic projects.) The system was actually extremely complex and comprehensive, with every individual industry playing its own vital role in the economic health of the Nation, as a whole. (Something that's difficult to get across in a one hour Discovery channel program that tends to highlight the monuments left behind that have been such a source of inspiration for so many thousands of years around the World.) There's actually a city-building PC game, kinda like SimCity, called "Pharaoh," that really gets into the complicated minutia of the ancient agrarian society, the playing of which has proven more educational than most of the College courses I've experienced lol if THAT sounds like an injustice, it probably is. Anyway, my point is; I appreciate this deeper, more nuanced discussion you've presented here, because it also highlights the factors an average modern person would more easily relate to, concerning such a seemingly distant civilization. It's not all about Pyramids, you know?! As beautiful and enigmatic as they are. There's a reason the Egyptian civilization lasted SO long, they clearly managed an extremely delicate balance between their environment, resources, and hierarchy. Leaving extremely valuable lessons behind rippling out through time behind them. In a way, they have come closer to achieving real immortality, in that sense, than any other ancient gathering of human beings on the Planet, before or since. 👍
History is one of the most valuable and intriguing subjects to study, It sparks a feeling of futility in me, i feel as though humans are controlled by outside factors and they have no agency.
Cool! Have you considered doing a video on the economics of slavery (historic/modern) and why it's still used today, in the face of things like automation?
@@stephenwodz7593 Good for them, The only thing they proved is that slaves didn't work on the pyramids, which Surprisingly not many belived in the first place.
Moses pharaoh drowned along with his army when they were chasing moses and his people across the gulf of suez, meanwhile you can see the mummy of ramses 2nd at the Grand Egyptian Museum he died at the age of 90+ and his body has no signs of salt or any related drowning signs which means that he wasn't Moses pharaoh, in addition that it doesn't make sense for a man in his late 80s to lead an army and chase a small group of people across the desert he simply couldn't do that so as far as i can assume it wasn't him. He will always remain the greatest king of our land! He was a narcissist too(Ramses II) 😂
Thanks mate, in reality we actually get lots of sponsorship requests but we turn most of them down because they are from brands that aren't necessarily that great. Also I am glad someone picked up on that :)
@@EconomicsExplained I've been a fan for a long time now, back when you only had like 10-15 videos so it was definitely something I realised. I love the work you do and I'd love to support you on Patreon but I can't afford it because I'm on benefits, sorry. I have YT Premium though (because I use Play Music so ad-free for £2 extra seemed like a good value) so at least I'm boosting your ad revenue up a little bit. Keep up the great work and I hope you get even more sponsorships soon. Personally, I love discovering new companies through YT sponsorships. Thank you for educating, entertaining and inspiring me about economics!
This corvee is still pretty much relatable today in Egypt through compulsory military conscription which may reach for 3 years in which you make cake 🎂 farming or working in a factory for free and without taxation for the pockets of the military.
Brilliant analysis of the ancient Egyptian economy. Have you considered doing a video on the ancient Mesopotamian economy? As it’s often cited as being the cradle of human civilisation.
Nothing to say but I just wanted to say Thank you for your work. It's really fun watching a video about economics and it's more fun if it's from you. Just wanted to say stay safe and again Thank you.
Hey, thanks for releasing regular, informative analyses of various economies throughout history. Would appreciate it if you could make a similar video for the Indus Valley civilisation. Please keep up the good work, looking forward to your videos, thanks!
I noticed that you mentioned cold temperatures and their correlation to economic prosperity being inverse to what they are now, but that’s not entirely true. The ideal average temperature for humans in relation to natural hazards has always been around 13°, which is why China’s prosperity has been a near historical constant. During ancient times, Egypt, the Levant and Mesopotamia also had a temperature around this level, but due to climate change and the 4.2 kilo-year event they have undergone serious desertification which has damaged their agricultural capacity (the same is true in Iraq; most of that country used to be under water 4,000 years ago, which improved internal trade and agriculture). Historia Civilis (an ancient history TH-cam channel) recently made a video about this and the Bronze Age Collapse, which I would recommend to anyone else whose interested in ancient history/economics. Other than that little detail I loved this video
Your Boy Mr Mac I dunno actually, you might have stumped me there. I’d assume moisture plays a large role as well as temperature, which would allow India to counterweight most of the negative impacts to its temperature increases. Although the Nile is long it has a comparatively low volume compared to the Ganges, Indus and Brahmaputra, leaving it vulnerable to droughts while India has comparatively more immunity in this regard. India also has the benefit of the monsoon, so while it is hot it is tropical hence non-arid, allowing it to remain successful. Don’t quote me on that though, just speculation
Great video. However, what you described as Tragedy of Commons is the Free Rider effect. Tragedy of Commons is when excessive use of resources such as grazing land/fisheries due to ill defined property rights, leads to resource depletion.
Is facinating to see in a economical and historical way how Egypt not only had take care of many social Issues, but the root of their sucess (besides spirituality) The Tech Tree.
13:05 Germany ended their mandatory conscription only in 2011, and we stopped claiming we owned another country 21 years earlier. (mainly because you could do a year of work in various social institutions instead of military service, which most people took, providing lots of underpaid young workers for kindergardens or caregivers etc)
Honestly, paying people in grain makes much more sense than abstract paper with faces on it. Grain, a person could actually eat, and this makes sense as the determinant of value for other goods and services.
I love how conservative this channel is getting. "Oh, wealth inequality isn't that bad", "oh slavery isn't that bad", "oh worshipping a king as a God isn't that bad"
That's not really what the video said though. He was talking about Corvée. If you think that Corvée is terrible then you probably agree with conservative thinker Carl Nozick who says taxation is theft.
I don't think there is documented history of Indus Valley Civilization. It was discovered fairly recently and the scriptures they found weren't recognizable. I don't know if someone has managed to come up with how their economy might have been.
@@prasadpawar7027 We don't know how their economy worked, but we do know they existed and had organized settlements. So EE can't really do much with them, but they still count as an early civilization.
The idea that for a certain time of a year, the population builds up the infrastructure (improving the commons) is actually amazing! Wount work in todays economy. But amazing either way!
I love how your TH-cam suggestions are from all the same channels I follow lol. I liked this video, it made me wonder what the economy of ancient China was like since it is also more or less one of the oldest civilizations in the world. Not necessarily asking for a video about it, but I’m definitely going to be looking into it tonight ^^
"We choose to build a great pyramid and do the other things, not because they are easy, but because they are hard; because that goal will serve to organize and measure the best of our energies and skills, because that challenge is one that we are willing to accept, one we are unwilling to postpone, and one we intend to win, and the others, too." (Pharao Djoser, 2720 bc)
Could you do the history of money? Wheat in Ancient Egypt, when did they do the transition to gold - how did they realise it is valuable? Credit, capitalism, public companies...
nitpick: Cleopatra wasn't really Ancient Egyptian, rather she was part of a Macedonian Greek settler colonial dynasty from way later that adapted local mythology/customs in order to appease the native Egyptians
Please make a video on the history of Indian economy, which used to be the biggest economy in the world by accounting for more than 23% in the World's GDP. You're doing great work, I'm an economics student and I'm binge watching your videos these days.
Nice balanace in this video. Sort of like an ideal economy - a nice balance. Government for things that are supposed to benefit everyone, and private enterprise for things that would be too complicated to get agreement on.
Ancient Egyptian Ruling Class: "We have tens if thousands of idle farmers and an unlimited amount of stone, what should we have them build? Canals? Irrigation systems? A fireproof Alexandria?" The Pharoah: "Hear me out on this: giant pile of rocks to last 5000 years."
Alexandria was developed after Alexander the Great conquered Egypt in around 330 Bc so it was basically founded as closer to us then the pyramids in a timeline
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Ecnomic Explains
Do u have the guts to give solutions on how to make America health care affordable ????in capitalism way
Pls make a video about it....
plz do one on aincent Indian civilization
Could you make a video explaining your opinions on there always evenutally being a limit to our resources? Scarcity?
I ask because as we strive to create technologies that help us become a sustainable (and space fairing) species, the scarcity argument (theoretically) should greatly weaken, if not disappear. We have food for everyone, now. We just choose not to design systems to allocate the food to who needs it. Throughout history there has forsure been a zero sum game throughout most of history. But with modern industry, agriculture and medicine that is no longer true. The more we pretend that scarcity continues to rule all that we do, the more we excuse ourselves from taking the necessary steps to solve them.
The idea that all human beings are impossible to satisfy seems like a very questionable principle that's never been proven. Sure some billionaires keep buying more, but there's also probably many millionaires you've never heard of who are quite happy with their lot in life (indeed, it's even been shown that happiness from wealth tends to plateau after a point - at about 100k/yr in the US iirc). Also consider that we have an entire industry that's had to arise (and grow to massive proportions) almost entirely for the purpose of getting people to want more - marketing. Marketing first arose just to make people aware of a product, hence why old ads tend to be very functional and feature-centric, but it's long since left that role behind and now is all about stimulating demand in a public that they're all afraid might not want their products enough without ever more prodding. And then we even have some companies *cough Apple cough* going even further by virtually forcing customers to buy more via planned i.e. artificially created obsolescence. All this and more seems to question the idea that we're all truly impossible to satisfy. Which, as the central problem of economics, calls into question the very foundations of the field (much like high human rationality used to be so central to economics, until they finally grudgingly accepted it was very very very wrong).
You're a legend!
"Even billionaires cannot be satisfied regardless of how many politicians they own."
Next one: The economics of politics
That would be a good video
@@AJearth the comment section would just explode
I know I’m not complete unless I own at least 2 senators.
@@MySparkle888 Meanwhile the Koch brothers: "Hmm... Why do I own only about 52 of the 100 senators in here? Why won't those stupid Dems take my oil money?"
Meanwhile Bloomberg: "Why won't those stupid Republican senators take my business money? I must own ALL of them, not just those loyal Dems!"
That seems like a Jake Tran type of video
Ancient Egyptian *using grain as money* "Look at all that dough!"
this comment wins.
Thanks! Your awesome videos inspired me to set up my own channel 👍
I love this comment. So true.
"making it grain"
Let's get this bread
I love looking at economies of ancient societies
I won’t like this comment so the counter stays at 69
@@blusham4629 You may now like
@@blusham4629 unfortunately we have passed 69😂
we might go back to it 😂
I will now remove my like again so that it stays at 96 which is basically the same thing
I am sorry in advance for my pronunciation of corvée...
No problem
haha thanks for the positivity
@@EconomicsExplained im bad at pronoucing it myself
Not good enough make the video again 🤣🤣
@@SupremeDonkeyNumber1 Heretic
I'd love to see a vid on "The Economy of Ancient India/China" too!
it's on the plan :). We have briefly explored the economy of pre-modern china before so in the meantime it would be good to check that out.
@@EconomicsExplained plz do one on aincent india their are several indian era from indus to mayura ,gupta and many more do any of it but not mugal because its extensively covered and pre mugal India history doesn't get the credit it deserves
@@EconomicsExplained Mongolia would be good. As they only cared about conquests eg. Once conquered they allowed self governance and religious tolerance but they took the best engineers mathematicians etc back to Mongolia
@@EconomicsExplained Yes please do a video on ancient india
@@nikithanayaer6302 hmm🤔🤔
Even billionaires can not be satisfied regardless of how many *politicians* they own.
Best line I've ever seen on youtube.
The same actually goes reverse.
"The Economics of Politics"?
The idea that all human beings are impossible to satisfy seems like a very questionable principle that's never been proven. Sure some billionaires keep buying more, but there's also probably many millionaires you've never heard of who are quite happy with their lot in life (indeed, it's even been shown that happiness from wealth tends to plateau after a point - at about 100k/yr in the US iirc). Also consider that we have an entire industry that's had to arise (and grow to massive proportions) almost entirely for the purpose of getting people to want more - marketing. Marketing first arose just to make people aware of a product, hence why old ads tend to be very functional and feature-centric, but it's long since left that role behind and now is all about stimulating demand in a public that they're all afraid might not want their products enough without ever more prodding. And then we even have some companies *cough Apple cough* going even further by virtually forcing customers to buy more via planned i.e. artificially created obsolescence. All this and more seems to question the idea that we're all truly impossible to satisfy. Which, as the central problem of economics, calls into question the very foundations of the field (much like high human rationality used to be so central to economics, until they finally grudgingly accepted it was very very very wrong).
I was the 333th like and if you mutiply that by 2 it is 666
The Inca Empire had a similar system called "mita" where they "taxed" the workers in labour. Precisely to build roads, bridges and other big projects.
China as well. And on a smaller scale, lots of manor economies. These dudes had their particular season.
Sometimes they use troops as labour. A chinese or french soldier is a potential labour reserve after all.
In my native language "mita" means bribe/bribery 😂
The Virgin convoluted modern economic system
The Chad simple ancient hierarchic economic system
Slavery? Based!
@@fanaticaltechpriest1002 unironically based and redpilled! The south will rise again!
@@TheManinBlack9054 Upper Egyptian pride!
the Chad centrally planned paleo-Communist economy?
@Fanatical Techpriest Actually evidence shows that the pyramids and most labor done is Egypt was free labor.
As an egyptian, ive been asking for economics of egypt for a while now but this was just as great and interesting. great vid m8,
Keep it up!
+1 i really want him to make a video explaining the modern economy of Egypt.
How's the new --palace-- capital going lol
@@donwald3436 going great , the monorails are working now :D
Ya egypts economy is getting bad sadly
"Go and sue a Current US senator and see how it goes " This line made chuckle
You do know you can sue them and win right?
@@IkeOkerekeNews it's really really hard. They have money and connection. And they have enough lawyers to drag the cases for decades
@@evankurniawan1311 Yeah, they can basically count on bleeding you dry until you can't carry on the case. On top of that, the judges will almost always rule in their favour. On top of that, they could probably just have you killed and no one would believe that a US senator was behind it.
Actually, whilst it has been popular since the 1980s to pick on America; you would have a far tougher time in China trying to sue someone in power.
@@DrZeeple The difference is that China isn't pretending to be the epitome of freedom and liberty. If the US would admit that they were average at best, then they wouldn't get called out for it.
“Politicians and diapers must be changed often, and for the same reason.”
― Mark Twain
"Imagine you are an idiot and a member of Congress - but I repeat myself." - Sam The Man Clemens FTW!
They get dirty.
Well said
“After the game, the king and the pawn go into the same box.”
- Italian Proverb
nice!
The king goes into a pyramid, though
@@adamcetinkent
🤣🤣
He's *LITTERALLY* _Mummified_ and placed inside a *Coffin.*
Although... sometimes his servants are entombed with him.
But then again...
You're talking about a *PHAROAH.*
_(Not a King)_
Bot
Not in ancient Egypt, people used to be buried in the middle of nowhere, while Pharaohs had pyramids and temples and were in the golden sarcophagoes.
Outstanding video! The puns were on point and I felt like I learned a lot. You have definitely been getting better and better at making these videos lately!
Thanks a ton! It's always good to hear such positive feedback :)
There's so much to learn from ancient societies.
the problem isthat modern peple, cant learn from what happen two weacks ago, and cant learn the history of theirow nations, you are asking them to learn from the first civilization, not to mention, that as soon, you said, we should learn from acient egypt we should learn from the roman empire or roma republic, we should lear from medieval knigths, you will alwas ALWAYS,come with the, oh no they were slavers, they were sexis, they werent diverse and bla bla bla.
Those who fal to learn from history are destine to repeat it , soething tell me we wll never learn
Wish I was alive back then. I was born in the wrong generation.
Dank
Highly recommend everyone check out Extra History's series on The Bronze Age Collapse. If you haven't.
super interesting aye. The time when humanity just peaced out
I do agree that the economy of the bronze age civilation was much advanced for its time so its very intresting
Or the video my historia civilis
@@EconomicsExplained Historia Civilis has a new video on the topic too, his videos are amazing
Historia civilis does it better in my mind
Great video! Just a note: in the last 10 years or so there’s been a lot of evidence that the pyramid builders weren’t slaves but highly privileged paid workers. Entire towns were built to house them. Not sure about other projects though.
As a kid in the 80s I was told that the workers barracks found nearby contained remains of alcohols and quality pottery, so it has been known for a long time, not just the last 10 years.
@COMMIE life was only hard by modern comparison, I am sure people today will find life "hard" without their paved roads, electricity and warm tap water.
If everyone lives in a desert with no food, then its equally hard on everyone and thus hard on noone, you just deal with your circumstances instead of making up scenarios in which you have ice cubes, indooor lighting and refrigeration.
@COMMIE Yes I think it was harder but I had to laugh about the videos comment about air conditioning. I grew up in 30c+ weather and didn’t have AC until 2010. Hunter gatherers likely had more free time than most of us. Lack of modern medicine would have sucked though.
@BinaryCommunistthe workers did. It was part of the contract. Part of site prep.
Finally! Someone discussing Ancient Egyptian labor and work force actually mentions the Annual Nile flood Corvée system.
So many videos, and even official Discovery and History channel documentaries, inexplicably leave out this critical information. They make it sound like there was always some separate work force toiling year-round to erect the monuments, infrastructure, and temples during that LONG period stretching multiple millennia.
I'm always left baffled about the failure to mention the Nile flood, and what that meant for the grain, chickpea, and barley farmers who depended on their floodplains getting a good inundation. For the sake of all the industries ancillary to those main staple crops. (Barley for the breweries, wheat for the bakeries, and straw for the cattle ranches, all going to the localized granaries and eventually the markets. Keeping the agricultural heart beating for the population while the idle farmers worked on the Pharaonic projects.)
The system was actually extremely complex and comprehensive, with every individual industry playing its own vital role in the economic health of the Nation, as a whole.
(Something that's difficult to get across in a one hour Discovery channel program that tends to highlight the monuments left behind that have been such a source of inspiration for so many thousands of years around the World.)
There's actually a city-building PC game, kinda like SimCity, called "Pharaoh," that really gets into the complicated minutia of the ancient agrarian society, the playing of which has proven more educational than most of the College courses I've experienced lol if THAT sounds like an injustice, it probably is.
Anyway, my point is; I appreciate this deeper, more nuanced discussion you've presented here, because it also highlights the factors an average modern person would more easily relate to, concerning such a seemingly distant civilization.
It's not all about Pyramids, you know?! As beautiful and enigmatic as they are.
There's a reason the Egyptian civilization lasted SO long, they clearly managed an extremely delicate balance between their environment, resources, and hierarchy. Leaving extremely valuable lessons behind rippling out through time behind them.
In a way, they have come closer to achieving real immortality, in that sense, than any other ancient gathering of human beings on the Planet, before or since. 👍
Wow
this is too long for my small brain
Also explains the Red Sea 'flooding the pharaoh's army' during the comic book entitled 'exodus'
Your writing is beautiful mate
That *PHAROAH* game was just refreshed & released!
"PHAROAH: NEW ERA" (February 2023)
im gonna buy it just because of your comment!
❤❤
"It grows a culture" 😂😂 ok you got me lol
Agree
History is one of the most valuable and intriguing subjects to study, It sparks a feeling of futility in me, i feel as though humans are controlled by outside factors and they have no agency.
"Whatever floats your riverboat"
- Economics Explained, 2020
Going back to the roots of economics certainly brings clarity. Loved the detail about the dynamic between law and economy.
Cool! Have you considered doing a video on the economics of slavery (historic/modern) and why it's still used today, in the face of things like automation?
"What happens if you leave a petri dish in the sun for a few thousand years?
It develops a culture."
😙
I am so proud of y'all finally having a sponsor. As soon as y'all mentioned Squarespace, I am not ashamed to say that I shed a tear
Yesssssss
This is amazing
As an Egyptian and a history nerd I greatly thank you o wise one of economy
Looking forward for more. Historical Economics video on China and India and Greece.
To be done soon :)
@@EconomicsExplained take your time we are here.
Came for the economics, left giggling at a biology joke
Snap :)
"slavery is great for vocational training" -Economics explained
They call it "unpaid internship" nowadays
Egypt: *exists*
Moses: I’m about to end this mans career
Mousa Otbah stick to your unflavored Cheerios
A great work of fiction, according to archeologists.
@Mousa Otbah Ramses the second wasn't the Pharaoh of Moses.
@@stephenwodz7593 Good for them, The only thing they proved is that slaves didn't work on the pyramids, which Surprisingly not many belived in the first place.
Moses pharaoh drowned along with his army when they were chasing moses and his people across the gulf of suez, meanwhile you can see the mummy of ramses 2nd at the Grand Egyptian Museum he died at the age of 90+ and his body has no signs of salt or any related drowning signs which means that he wasn't Moses pharaoh, in addition that it doesn't make sense for a man in his late 80s to lead an army and chase a small group of people across the desert he simply couldn't do that so as far as i can assume it wasn't him. He will always remain the greatest king of our land! He was a narcissist too(Ramses II) 😂
Congratulations on getting sponsored!!
I loved that little "owning a politician" gag
Thanks mate, in reality we actually get lots of sponsorship requests but we turn most of them down because they are from brands that aren't necessarily that great. Also I am glad someone picked up on that :)
@@EconomicsExplained I've been a fan for a long time now, back when you only had like 10-15 videos so it was definitely something I realised. I love the work you do and I'd love to support you on Patreon but I can't afford it because I'm on benefits, sorry. I have YT Premium though (because I use Play Music so ad-free for £2 extra seemed like a good value) so at least I'm boosting your ad revenue up a little bit.
Keep up the great work and I hope you get even more sponsorships soon. Personally, I love discovering new companies through YT sponsorships. Thank you for educating, entertaining and inspiring me about economics!
Is Corporation owning a politician for their advantage a gag?
@@robertracicot7232 he said billionaire
8:08 "what happens when you leave a petri dish out in the sun for a few thousand years? Well, it develops a culture.
This corvee is still pretty much relatable today in Egypt through compulsory military conscription which may reach for 3 years in which you make cake 🎂 farming or working in a factory for free and without taxation for the pockets of the military.
Adding the sources of your information to the description would be a great way to encourage viewers to investigate further if they're interested
I find these videos about past societies and their economies really fascinating
This was more or less a history lesson, like you didn't even put it in the country tier list.
That’s right, The modern economic monetary system is first originated in North East Africa the Ancient land of Kemet, Ethiopia, Abyssinia and Egypt.
Nah we have debt-based fiat currency now.
EE: go an sue a US senator and see how that goes
legal eagle suing the us government: am i a joke to you?
It will fail miserably
Wait why is/was he suing the us government?
"....nations like Taiwan..." Blasphemy! Joking aside, please do a video on the economy of Taiwan.
Just did
Brilliant analysis of the ancient Egyptian economy.
Have you considered doing a video on the ancient Mesopotamian economy?
As it’s often cited as being the cradle of human civilisation.
The whole area was the cradle, but we will be looking at that at some point too :)
Fallout: War... War never changes
Economics Explained: People... People never changes
I really wish you'd link sources so that we may read up.
Only in Economics Explained will you hear the pros of working in a pyramid. Love this channel.
Economics Explained: If some one builds a road there's nothing stopping some one else using it
*Laughs in Toll Road*
The first paved roads in the US were *turnpikes* - toll roads.
Nothing to say but I just wanted to say Thank you for your work. It's really fun watching a video about economics and it's more fun if it's from you. Just wanted to say stay safe and again Thank you.
Can you do the economy of ancient China and how it managed to become so prosperous.
I have actually touched on this in the three part series on china :D
Hey, thanks for releasing regular, informative analyses of various economies throughout history. Would appreciate it if you could make a similar video for the Indus Valley civilisation. Please keep up the good work, looking forward to your videos, thanks!
"It develops a culture" I genuinely laughed. That was excellent! Thank you.
I just got it.
This still has got to be one of the single best TH-cam channels out there.
I noticed that you mentioned cold temperatures and their correlation to economic prosperity being inverse to what they are now, but that’s not entirely true. The ideal average temperature for humans in relation to natural hazards has always been around 13°, which is why China’s prosperity has been a near historical constant. During ancient times, Egypt, the Levant and Mesopotamia also had a temperature around this level, but due to climate change and the 4.2 kilo-year event they have undergone serious desertification which has damaged their agricultural capacity (the same is true in Iraq; most of that country used to be under water 4,000 years ago, which improved internal trade and agriculture). Historia Civilis (an ancient history TH-cam channel) recently made a video about this and the Bronze Age Collapse, which I would recommend to anyone else whose interested in ancient history/economics. Other than that little detail I loved this video
why has india done so well throughout history then? it's hot af
Your Boy Mr Mac I dunno actually, you might have stumped me there. I’d assume moisture plays a large role as well as temperature, which would allow India to counterweight most of the negative impacts to its temperature increases. Although the Nile is long it has a comparatively low volume compared to the Ganges, Indus and Brahmaputra, leaving it vulnerable to droughts while India has comparatively more immunity in this regard. India also has the benefit of the monsoon, so while it is hot it is tropical hence non-arid, allowing it to remain successful. Don’t quote me on that though, just speculation
I used to be obsessed about Ancient Egypt two years ago because of Civilization V
@Discovr I like Ancient History, it's all super interesting
"How many.. politicans.. they own" 😂😂😂 y'all funny
Great video. However, what you described as Tragedy of Commons is the Free Rider effect. Tragedy of Commons is when excessive use of resources such as grazing land/fisheries due to ill defined property rights, leads to resource depletion.
Last time I was this early...I was a well payed and fed skilled labourer building the pyramids
So never ?
So did you build the pyramid top down or down up?
@@meneither3834 -____________________-
@@SupremeDonkeyNumber1 go on, whoosh me
Me Neither whoooosh/r
Is facinating to see in a economical and historical way how Egypt not only had take care of many social Issues, but the root of their sucess (besides spirituality) The Tech Tree.
So the Egyptian Corvée system was basically mandatory civil service, but every year?
Fun fact: the pyramid featured most prominently in the b-roll with the capstones on top is _not_ the Great Pyramid.
13:05 Germany ended their mandatory conscription only in 2011, and we stopped claiming we owned another country 21 years earlier. (mainly because you could do a year of work in various social institutions instead of military service, which most people took, providing lots of underpaid young workers for kindergardens or caregivers etc)
Honestly, paying people in grain makes much more sense than abstract paper with faces on it.
Grain, a person could actually eat, and this makes sense as the determinant of value for other goods and services.
Kudos for making this video. U smashed the history and economics of a civilization which lasted for 3000 years into a 15 minute video. Wow
5:29 Ok! I'm on it.
Update: :(
There you go, have a heart for trying champ
@@EconomicsExplained Thanks, Professor EE
How’s prison?
Still would love a series on the historic evolution of economic theory.
Keep up the good work.
I love how conservative this channel is getting. "Oh, wealth inequality isn't that bad", "oh slavery isn't that bad", "oh worshipping a king as a God isn't that bad"
Did you not catch the dig at Israel?
@@3of11 I always found the conservative love of Israel to be rather superficial
Never noticed... I guess some people don't see things from the eyes of conservatism/liberalism etc
That's not really what the video said though. He was talking about Corvée. If you think that Corvée is terrible then you probably agree with conservative thinker Carl Nozick who says taxation is theft.
I love how everything has to be "conservative" and "liberal." Get out of your own head often, it helps..
glad to see you getting sponsors now EE
Thanks mate :)
Indus valley civlisation: Am I a joke to you
I don't think there is documented history of Indus Valley Civilization. It was discovered fairly recently and the scriptures they found weren't recognizable. I don't know if someone has managed to come up with how their economy might have been.
@@prasadpawar7027 true
@@prasadpawar7027 We don't know how their economy worked, but we do know they existed and had organized settlements. So EE can't really do much with them, but they still count as an early civilization.
@@ArawnOfAnnwn The most developed ancient civilization...
@@ArawnOfAnnwn What was the point of this comment again?
In my opinion, this video is quite a lot better than much of your more recent content.
The Incan Empire had no currency. The corvee system reminds me of how they paid their taxes.
The idea that for a certain time of a year, the population builds up the infrastructure (improving the commons) is actually amazing!
Wount work in todays economy.
But amazing either way!
Do “the economics of politics”
“Or politicians they own “ lol love it. The petry dish and cultures joke was good too
We need a best or (and) essential books on economics videos.
.
Like if you agree
Basic Economics by Thomas Sowell.
I love how your TH-cam suggestions are from all the same channels I follow lol.
I liked this video, it made me wonder what the economy of ancient China was like since it is also more or less one of the oldest civilizations in the world. Not necessarily asking for a video about it, but I’m definitely going to be looking into it tonight ^^
It's only an economics explained video when he says "wot is goin on heah"
"BUT!"
"We choose to build a great pyramid and do the other things, not because they are easy, but because they are hard; because that goal will serve to organize and measure the best of our energies and skills, because that challenge is one that we are willing to accept, one we are unwilling to postpone, and one we intend to win, and the others, too." (Pharao Djoser, 2720 bc)
13:10 Switzerland: *heavy sweating*
We Need The Economy of The Current Egypt
+1
When you are early but can't think of a clever joke: :(
Last time I was time earl, China was still in the Century of Humiliation
"The mother of all team building exercises"
Could you do the history of money? Wheat in Ancient Egypt, when did they do the transition to gold - how did they realise it is valuable? Credit, capitalism, public companies...
Ah, the creator clearly read some interesting facts on reddit and thought "why don't I use that in a video".
R/TIL
nitpick: Cleopatra wasn't really Ancient Egyptian, rather she was part of a Macedonian Greek settler colonial dynasty from way later that adapted local mythology/customs in order to appease the native Egyptians
Ecnomic Explains, would u explain how to attract a girl in Ecnomic style
.
Fulfill all the demands, its ez
Going brr with money
I believe that the simps would be able to help you
Step 1: Be attractive and/or rich
Step 2: Don't be unattractive and/or poor.
I would recommend the Historia Civilis episode on Egypt's bureaucracy.
Could you do a video on Australia or New Zealand?
have already done a video on Australia, will be doing one on NZ eventually.
Please make a video on the history of Indian economy, which used to be the biggest economy in the world by accounting for more than 23% in the World's GDP.
You're doing great work, I'm an economics student and I'm binge watching your videos these days.
Owns politicians *** 😂 got me
Great vid btw.
hahaha thought that would get a few people :)
I'm egyptian so i'd like to say thanks for making this video. i wouldn't mind seeing the economics of countries in the middle east and north africa
Grain grain grain
Making it grain!
Thanks a lot for your videos they're super interesting. I've an idea for a future one, will subscribe to patreon soon!
Awesome, look forward to hearing it!
Just print more grain lol
grain grinder goes BRRRR
LOL
Nice balanace in this video. Sort of like an ideal economy - a nice balance. Government for things that are supposed to benefit everyone, and private enterprise for things that would be too complicated to get agreement on.
Ancient Egyptian Ruling Class: "We have tens if thousands of idle farmers and an unlimited amount of stone, what should we have them build? Canals? Irrigation systems? A fireproof Alexandria?"
The Pharoah: "Hear me out on this: giant pile of rocks to last 5000 years."
Look up the sisostris canal, The moeris lake irrigation canal and Alexandria lied on an island, how more fireproof can you get?
Alexandria was developed after Alexander the Great conquered Egypt in around 330 Bc so it was basically founded as closer to us then the pyramids in a timeline
It would be nice if there was one on "Economy of Premodern Southeast Asia" or "Economy of Pre-industrial Korea/Japan."
Next: the economy of congo *free* state .
🙂You'll catch hands.
@@mwanikimwaniki6801 wait.. That's illegal
@@appleslover 😑That's what they told the Belgians.
It's one of my favourite topics, thanks for sharing valuable information ❤👍
4:19 so basically the actual Catholic Church- or rather the Holy See
hahah that's what i thought when he said "if"
Finally Mark Corrigan released his «Business Secrets of the Pharaos»!!!
Thank you, Mark!!!!!
Vid suggestion: Economy of the Roman empire
It’s already been done
"mother of all team building exercises" 🤣 so many good jokes in this episode
I’ll trade my spinx for your pyramid
nah man, I only got an obelisk...
@@EconomicsExplained i'll trade my grain for your obelisk 😉
@EconomicsExplained you should make a video about the economy of Star Trek, specially of the United Federation of Planets, as it is a post-scarcity