I grew up on a New Zealand farm, and I never understood why so many countries with such fertile land don't end up rich, as my brain always linked agriculture to wealth
And since NZ is so small, this will end up on free-to-air public news stations tonight. This is actually the best summary of NZs economic history I’ve seen on TH-cam.. great research.
This thing about mono-economies is a really good point. 62% of Norway's exports are oil and it is a very wealthy country. I think it has far less to do with some magical curse that leads to any country that predominantly relies on one economic sector failing, and more to do with the fact that some mono-economy countries are able to use their resources very functionally in a way that benefits the general population, and others are not.
pretty much, in the case of Norway they have an efficient democratic process to redistribute the oil wealth, in the case of new zealand agriculture is not too concentrated (many stakeholders) The difference is also that these countries are not truly mono economies either, they are "mono exporter" they don't rely too heavily on imported services for their own cunsumption, they have other good paying jobs serving their own population
I don’t think it just or mainly about mono-economics. Sure, that is a common link between the 2, but so is co-ops. If people given the power to make their own democratic choices within their profession, it’s more likely they’ll end up organizing their industry more efficently.
As an Indonesian, I kind of love the fact they're pretty close by (yes they're 7,500km away but compared to other countries they're our next door neighbour). Hope to go vist one day and see their cray mountain on a bike.
@@frozencatcake Yep here in Oz we have far less mountains. ;) A few of the Kiwi's I work with have mentioned that it weirds them out how there are no hills around to get any bearing. I get it, everytime I have been to NZ it is very easy to figure out where you are - well except in Auckland and Hamilton. But everywhere it is easy.
1:52 challenge accepted. 3 course meal (Assuming a few extra ingredients can be used btw) Appetizer: Steak frites with red wine reduction sauce Entree: Lamb chops with an apple honey lamb fat sauce Dessert: Sopapillas served with honey and a milk chocolate mousse For drink, the best option (according to my research) would be a Cabernet Sauvignon You're welcome :D
Sooner or later Hoser's going to need to make a video about the Canadian economy to counter all the sensationalist videos I've been seeing everywhere about how Canada has become a third world country.
1st world (USA and friends) , 2nd world (USSR and "friends") and 3rd world (the rest) are outdated political terms from the cold war era lazily used as an economic term because most of the third world wasn't industrialized at the time
The importance of co-ops in NZ cannot be understanded. For every sector, there is a co-op that helps farmers maximise productivity, bulk buy inputs like fertilizer, and negotiate higher prices
Your completely right, I'm hoping the government tries to jump the barrel on aquaculture to see if thats something that can be expanded and turned into a cooperative which would be cool to see
Aside from Fonterra, what co-ops are you referring to? The kiwifruit industry had something similar a couple of decades back, but has been deregulated since.
As an ex-kiwi… their riches are overly exaggerated. NZ has crazy levels of wealth inequality. The _vast majority_ of the population lives in housing that would be considered unsafe in the USA’s Rust Belt, famous for being run down and painted with lead paint. The sheer amount of water damage and resultant mold is a national health crisis, it’s not a coincidence NZ has some of the highest asthma rates in the world. Add onto this the sheer cost of consumer goods due to being in the middle of nowhere, and the tendency for monopolies/duopolies, and you have a place where the cost of living is higher than in most of the California Coastline population centres. In other words, kiwis pay Silicon Valley prices for housing comparable to the worst in the USA. I cannot overstate just how much value Lord of the Rings brought to the economy by reminding the world of NZ as a tourist destination. An absurd amount of the money actually available to the lower and middle classes comes from tourists and trickle-down effects from rich people buying bolt-holes.
@@forestreee then we can become Newest Zealand to become younger too, then the dutch can rename theirs New Newest Zeeland and bada bing bada boom infinite prosperity 😎
There are some flaws with NZ, Its very centralised around Auckland, so if you don’t live there, you’re at a disadvantage professionally, and it also means country-wide wealth distribution is concentrated in Auckland Theres no real intercity public transport, you’re options are to fly, drive or take an expensive pre booked coach. The road network is awful, there have only been intercity motorways completed within the last few years, and even then they’re only dual carriageways, not full motorways. Most places, especially coastal cities and towns, have only a few roads in and out, meaning if one road is closed the effects are drastic, as we saw with cyclone gabrielle, just because one single road got blocked, whole towns were cut off There are no trains, apart from a handful of metros in wellington and auckland, again, no intercity rails, even though NZ used to have passenger rail everywhere. The inter island ferries are owned by the national rail company of all companies. And just as a social issue there are no people, so its easy to feel lonely, and pretty much every is closed and dead by 10pm, in europe we could go literally all night and still find people absolutely everywhere with so many places still open edit: forgot to mention, we over-export most of our agricultural products. Considering NZ is an agricultural nation, i find it really stupid that we still have some of the most expensive dairy, meat, and produce in the world, despite us literally making it everywhere locally.
New Zealand is propped up by farmers, no doubt. But we do have some serious issues too. Cost of living is ridiculous, the bureaucracy is out of control and infrastructure is years behind what it needs to be. We also lose many skilled workers to Australia.
Despite producing this much food to export, New Zealand's living costs are actually high compared to its median salaries. Hell, NZ food exported to other countries are actually cheaper than the ones sold in NZ.
But isn't New Zealand running into an issue where they export too much of their food and the price of food for the native New Zealand population is higher than necessary?
NZ doesn't subsidise food production so consumer prices are higher, and we then pay the export price the farmer gets. 15% tax is added to food in stores. A lot of prepackaged food is imported from Australia which adds to the cost.
@@cg_2k72 Given the small population of the country no wonder there's only a few large grocery firms there. And only a few firms means they could charge higher prices. No wonder why New Zealand meat pies are a thing, I guess.
In terms of calories consumed, NZ is actually quite import-dependent. Even in the fruit and vegetable and meat section, a substantial chunk of stuff in our supermarkets is imported. Sure we produce a shitload of meat, dairy products, and temperate climate fruit and vege, but outside of that virtually everything is imported. It might be made here, but the raw product is imported - eg, NZ-made bacon from Spanish pork, or bread from Australian wheat. A lot of pork comes from the EU, a lot of beef in our food service sector comes from Australia, all of our bread flour comes from Aus (due to mineral deficiencies in the soil), all of our rice comes from Aus/Asia, fruits come from everywhere, and finished goods/processed foods are mostly made overseas.
@Xalta, you are a kiwi you have no right to speak on Euro politics (I don’t inherently disagree with you in this case, but it’s just not your place to speak on such things).
New Zealand has size of Japan, UK or Italy so it does not need to create production in other branches. In fact, it does not even need to shift all agriculture to productions requiring larger workforce on smaller plots of land, such as berry growing. But New Zealand farmers do not have "lifestyle choice" farms, and average dairy farm has around 500 cows with just one family working on it.
"Even though total sheep in the country has fallen to about a third of what if was in the 80s, sheep meat exports have actually risen" I feel like there is a connection here...
Oh yeah one more thing: our gloriously exported food is more expensive in our own supermarkets than the ones it's being exported to overseas. Disgusting.
Amazing you showed SaltStick fast chews. Those are such a niche peoduct, but absolutely life changing for preventing cramps and replenishing electrolytes. How random! The peach ones are like my favorite candy.
5:33 most of New Zealand's soil isn't actually adequate for crop lands, livestock and wine, sure. However the statement about millions of years of volcanic activity making it fertile is just wrong, millions of years is still young soil without significant organic material. Nothing like the black earth of Ukraine, American Mississippi watershed, or Indonesian peatlands. Even then, our most fertile soil around Auckland is wasted on suburban sprawl. New Zealand is a lovely country with a significant livestock economy, but that is not the same as "fertile soils".
I live in hawkes bay. We have rich soil created from a flood plan like cyclone grabreile. 5 rivers in 20km of coast line. If rhat. Plus all the rivers flow underground and we have a huge aquafa. Add to that the amount of sun we get it's just prefect growing conditions.
@@kanoslayer2735Iodised salt isn’t mandated, it’s just a standard at this point. It was introduced worldwide to help prevent issues that occur from a lack of iodine intake (birth defects, miscarriages and goitres), as iodine is one of the least commonly occurring natural minerals in soil, occurring most near the sea, so the addition of iodine helps prevent that, particularly during pregnancies. It’s not really related to soil fertility as far as I’m aware, it can help plants to some extent, but doesn’t seem to be as crucial to them as it is in animals.
There's a reason it's called kiwifruit y'know, because it looks like our national bird. we had control over what it was named because we produce the most of it.
In the export graph at 2:33 some other chunks are also derivated from farming such as wood (from tree farms) casein, protein powders. wool, leather and some smaller ones too
@@TheLIMREPORTNah fr though the bus route to college I take has a busy road that has needed repairs like 4 times this year💀💀 The infrastructure is actual trash in NZ
Yeah. Big (ish) country, few people. Never going to change. Although I think it was a massive mistake to privatise rail and send everything by road now. I reckon don't build motorways, incentivize people to move to the provinces instead - spread them out.
One additional factor for low-cost dairy and meat production is the weather. As it is (relatively) mild year round, cows can stay out in the fields rather than having to be brought into barns and fed silage.
I found this video to be quite enjoyable, everything blended together perfectly, with the music serving as an unexpected bonus that tied everything together neatly, like a well-wrapped Christmas gift. Thank you hoser :)
AOTEAROA MENTIONED CHURRRRR BOL!!!! My family has a farm in the South Island, i love it. I genuinely can’t imagine rural NZ as anything else, other than the forests it once used to home.
Successful is arguable. Not failing yet seems more accurate. Non-refining, service and export based economy is not the best long term outlook, but it's difficult to see a fix that doesn't involve a time machine.
new zealand is an inspiration, i hope that more governments and farmers can see that you can make a high quality and valuable agricultural sector by avoiding subsidies which encourage waste and the abuse of land. amazing video hoser, really great job.
@@EpidianYeah it's beginning to become quite an issue. The fact that NZ only fully switched to dairy farming about 50 years ago and is already facing debilitating freshwater pollution makes me think we need to really dial back the ground/water pollution if we want NZ to be as prosperous and habitable in another 50 years time.
Yeah and price New Zealanders pay for there own food products and imported ones are so inflated after co vid that a kiwi who moved to New Zealand said the grocery bill in Australia made him cry tears of joy, because in New Zealand it was $1000 dollars in Australia it was $400 a $600 difference, if your charging your citizens that much for groceries I wouldn't call your farming policy's a success for kiwis as whole
@laurencefraser yeah bro I don't know if your right. Because no one is going to do dairy farming on land that isn't 'suitable' for it. If so can you explain how it isn't
tangential to this is the concept of economic complexity. what matters (according to that model at least) is not how much value you produce in the short run, but how diversified your knowhow is. For example, in year 1 economy A produces $100 worth of mutton per capita and economy B produces $10 worth of bamboo $20 worth of cotton and 10$ worth of wheat per capita. If they’re all functioning market economies with business friendly governments economy B would grow faster simply because it has more avenues to grow (bamboo-> paper-> notebooks) (wheat->biscuits) (cotton-> yarn-> t-shirts) than economy A which has potentially less options to diversify its knowhow. Through backtesting this complexity index which i’m not sure how exactly it is calculated, just enough to know it takes into account exports and their complexity, is a good determinant of economic growth.
Absolutely the case. A lot of NZ's dairy Agriculture is done by younger landless "sharemilkers" who have flocks of livestock but have to find landlords whom they split the profit with. Meanwhile NZ Horticutlure is actually done by seasonal workers from the Pacific Islands who are paid and treated like shit.
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when someone is straight forward and good at what she does best. People will always speak for them. For me I can would say give Mrs Sharon Duke of finance education a try and you be happy you did
Can't help but consider the irony given New Zealand sunk into a recession as of yesterday which isn't to detract from its agricultural success, just its recent monetary and fiscal policies.
wow, i never knew NZ was agricultural. i finally learned something from hoser that won't make me sound like a nerd when i brag about knowing it to my friends
@Xtraqk220I didn’t say it was accurate but it was a good satire of it. Most North Americans aren’t even familiar with the kiwi accent and when they have heard it and try, it’s always an Aussie accent. This was noticeably kiwi but exaggerated.
My regional security courses in university : there is no country in the world that can even come close to being completely food secure. New Zealand just silently exist being almost completely food secure. 🤔🤔🤔
It depend on what your criteria for "food secure" is. If it just mean enough food to survive, then a lots of countries can do that. However, if you also want variety, then yes, no countries can have food secure, even NZ.
Thank you for your commentary. I have to say it was hard work getting to where we are. At one time we had a protected economy which was impoverishing us. Believe it or not at one time we had a car industry, which was really a car assembly industry. Our cars were among the most expensive in the world. We removed protectionist tarfiffs and subsidies in the 1980s. The car indistry collapsed along with the protected clothing and other industries. The result led to an economy based on what we do best - agriculture. Thank you for mentioning our agricultural co-operatives. New Zealanders owe much of our wealth to these. Imagine if the corporate model took control of our co-operatives. Instead of farmers and our provincial towns reaping the benefits, the benefits would go to shareholders in other countries.
thank fuck our older generation of farmers were at least economically leftist cos we know damn well that would not have happened with a lot of the population now 😭
What do you know about hard work? My gumboots have holes and I can't afford new ones. You don't speak for us farmers, Fonterra sold the golden goose by going back on the Rochdale principles and inviting external shareholding, something that could only have happened under a National govt' -- now they're on track to become the next Synlait and already sold down some business units.
The govt tried to bring new reformed farm laws which will increase farmer's productivity through private companies & the farmers protested against it 🤣
But they haven't given up They broke up all those new reformed laws they thought of & converted them into hundreds of small laws which they are implementing one by one sneakily at the state level so the farmers don't notice it 😅.
It’s not free trade. Its farmers have huge plots of land. The same is true in the USA. The thriving farms in US are massive farms. You can make a good living from a 10,000 acre farm. Low population with lots of land = farmers with lots of land and can make decent income. In other countries poor farmers have 1 or 5 or 10 acres. Barely enough to feed the family let alone get money from the surplus.
Also for those sized farms you can't justify the capital for mechanisation that makes farming so much more efficient. a 10,000 acre block can justify buying a fleet of headers at 500k a pop, and require much fewer . 100 different farmers on 100 acre blocks will be stuck holding their dicks and probably working the same hours for a miniscule fraction of the revenue.
100% A farmer who owns 10,000 acres benefits from scale. They are always the ones that can afford cutting edge ag tech which just makes farming easier and more profitable. Meanwhile the poor shmuck that has 10 acres is simultaneously getting shafted by a house and tractor mortgage 😂
An economic unit in pastural farming in NZ is closer to 1,000 acres, depending on the level of debt servicing. A 10,000 acre pastural farm would more closely resemble the Yellowstone TV series than a 'typical' NZ farm.
@@gj1234567899999 How is identifying an extreme outlier relevant? The scale of a rather unique govt owned high country farm/station heavily involved in research, tourism and conservation is not representative of most privately owned pastoral farms in NZ.
Well done. Some extra detail is that being subsidized lead to being pillared in the media for years. Farmers even with the pain of deregulation, and subsidy removal generally supported removal because they were of being tired of the negative focus. The associated industries beyond the farm gate stayed expensive, and inefficient because in reality that is where a fair chunk of the subsidies ended up. The dropping of subsidies hit these sectors as much as the farms themselves until everyone was lean enough to survive. Subsidies were also uneven with the majority going to sheep, and beef while the world changed around them. The dairy industry continued a relentless push for efficiency. The large fund kept by the dairy board to smooth out payments for bad years was available at no interest to the GOVT. This meant the dairy industry subsidies the GOVT in all those high inflation years, and not the other way round. This enabled a farming industry with high ongoing relative returns that otherwise uneconomic farms could join. Local and central GOVT in NZ has always focused on road development so goods can move efficiently. This bricks, and mortar approach across GOVT has enabled each pillar of modern infrastructure to stay up to date, and efficient benefiting our farmers. I would also question whether a country, and region with an economy dominated by the service industry can survive at scale economically without cheap fuel, and a banking sector making money out of poorer countries. This masks a lack of an economic backbone in a world no longer capable of endless growth within limited borders.
Honestly I'm 21 and am definitely moving to aus in 2 years shits going down hill, and I've lost hope here. I can still succeed I rekon here but I think the government just wants to screw everyone over. I love living here but I hate the politicians on all sides.
As an American dairy farmer I can assure you that New Zealand does foreign policy the best I don't want any subsidies or anything like that I just want to be able to compete in the free market
Damn, what a great video, I feel like you are getting very profesional with these late ones. I’m no geopolitics/economics expert but I feel like you are very unbiased
I wouldn't say we are "successful" when our residents pay export prices for our own food. Worsened by a price gauging supermarket duopoly. We have an economic system that's deadlocked to inflating house prices than actual productivity. We top the charts in homelessness and suicide rates. Our current government removed smoke-free initiatives, imposed public service cuts so that they could give tax cuts to landlords. Our public health care is on the brink of collapse. Ambulances wait in line to enter hospitals, patients wait a whole day in emergency department and rural areas with no doctors. I don't know how to describe this country in one word but I know it's certainly not "successful".
idk man the economy is better than other agricultural places like Argentina and its not that hard to get a job thatll pay for rent and food. We have a pretty sweet country, don't need to be too down about the economy. If we have to spend more on food because we export it at high costs and we have to pay so much for houses because of the tourists who come here and want to stay the benefits outweigh the drawbacks.
Housing is a problem in most western countries for the same reasons. The public service sector had become bloated under the previous govt and was failing to meet its kpis despite all the extra staff.
@@qcthesxientistdepends on where you are, frankly. Spent 2 years in Porirua unable to get a job anywhere commutable in the Wellington region. Up in Manawatu? Yeah you can probably make a seasonal living with nothing but a can-do attitude. In the cities though it’s 100% about connections, if you don’t have a business-owning family member or family friend willing to make a job for you, you’re kinda fucked. Especially if the AA is fucking you over to pass their quotas for more failed driver license tests.
@Cray, the whole world sucks, it’s not that your country doesn’t suck, but rather that it sucks comparatively less than the majority of the world. Try the US of A these days it’s got everything you mentioned plus extra times ten.
10:10 Actually they did cut subsidies to boost the economy. It was a part of “Rogernomics”, the big economic plan Roger Douglas laid out. He saw subsidies as the government “picking winners” which lead to inefficiencies
Haha yeah success is relative, New Zealand is messed up as of current but the majority of the world is even worse lol. I would know I live in the rest of the world (not Oceania).
@hamish, doesn’t matter if Australia is better because that’s still Oceania. Most nations outside you Pacific bubble suck far worse than New Zealand does.
I find it funny that Hoser has covered every commonwealth country except for ironically his home country of Canada.
lawsuit avoidance.
Literally waiting for that vid... maybe after our next election
He needs to cover Nigeria next
@GrantGraff he did already Cover Nigeria in a video called “Is Nigeria the new China?”
“Sorry”
- Hoser
I grew up on a New Zealand farm, and I never understood why so many countries with such fertile land don't end up rich, as my brain always linked agriculture to wealth
Lack of mechanization, poor crop selection, poor infrastructure, and high populations.
NZ has more fertile land per person than anywhere. If you have too many people, the food can’t be exported
If you only had spades rather than tractors you'd never make the link.
@@Jaffjv fertile for agriculture, not Horticulture, only 3% of NZ is fertile for crops
Most don't even use fertilizers well
And since NZ is so small, this will end up on free-to-air public news stations tonight. This is actually the best summary of NZs economic history I’ve seen on TH-cam.. great research.
5 internet bucks it won’t be tonight
nah
It might be small, but it's not THAT small, lol.
id love to see the news coverage
I don’t think so
NZ is the best country in case of the zombie outbreak. It's isolated, developed and can produce food to sustain themself
Still needs equipment from outside
@@NicoparaDEV The scavenger unit would be formed for that duty
Okay now we just need the zombie outbreak
Yeah, but if the island has its own outbreak, you guys are screwed lol
He doesn't know:
th-cam.com/video/Hhck0SLcA6I/w-d-xo.html
>farming
>lord of the rings
>not australian
simple as.
I’d add - leftist policies
Sweet as
you had me on "not australian"
Honestly, we’re hardly kiwis over here now
@@DavidLimofLimReport he was not ranking the flaws
This thing about mono-economies is a really good point. 62% of Norway's exports are oil and it is a very wealthy country. I think it has far less to do with some magical curse that leads to any country that predominantly relies on one economic sector failing, and more to do with the fact that some mono-economy countries are able to use their resources very functionally in a way that benefits the general population, and others are not.
The resource curse is all about politics. Corrupt autocrats and oligarchies exploit resources inefficiently and misuse the wealth.
And as he said, that the mono economy is not built on something that suddenly ends. Like oil in the future, and slavery for the Kingdom of Kongo
It's called having good policies with the right implementations supervised by good governance at the behest of sound market demands.
pretty much, in the case of Norway they have an efficient democratic process to redistribute the oil wealth, in the case of new zealand agriculture is not too concentrated (many stakeholders)
The difference is also that these countries are not truly mono economies either, they are "mono exporter" they don't rely too heavily on imported services for their own cunsumption, they have other good paying jobs serving their own population
I don’t think it just or mainly about mono-economics.
Sure, that is a common link between the 2, but so is co-ops. If people given the power to make their own democratic choices within their profession, it’s more likely they’ll end up organizing their industry more efficently.
I like the fact that New Zealanders are already in the comments.
🇳🇿NEW ZEALAND MENTIONED🇳🇿
You could say they are always ahead of our time
YEAAAAAASAHH MAAAAAATTEEEE
It doesn't take us long. Despite how few we are, we are everywhere.
I wanted to watch a positive video about NZ while paying some of the highest rent in oecd
2:35 Casein (with it's 2,5% share) is also a food related product since it's a milk protein.
that's a good casein point HYUCK HYUCK HYUCK
Weird then that whey does not show up
The china eating animation was such a big jaw rotation I couldn't tell what was happening
I thought it was that drake meme
As an Indonesian, I kind of love the fact they're pretty close by (yes they're 7,500km away but compared to other countries they're our next door neighbour). Hope to go vist one day and see their cray mountain on a bike.
You should! Bikes and mountains are something we do well here
Same as a Australian
@@frozencatcake Yep here in Oz we have far less mountains. ;) A few of the Kiwi's I work with have mentioned that it weirds them out how there are no hills around to get any bearing.
I get it, everytime I have been to NZ it is very easy to figure out where you are - well except in Auckland and Hamilton. But everywhere it is easy.
Nesian vibes 🇳🇿🤙🤙
on a BIKE??
1:52 challenge accepted.
3 course meal
(Assuming a few extra ingredients can be used btw)
Appetizer: Steak frites with red wine reduction sauce
Entree: Lamb chops with an apple honey lamb fat sauce
Dessert: Sopapillas served with honey and a milk chocolate mousse
For drink, the best option (according to my research) would be a Cabernet Sauvignon
You're welcome :D
why'd you do that
now I'm hungry
and I'm broke.
@@WhyGodby A man is hungry in lego city, and he has no money. Hurry, build the gourmet soup kitchen [lego tm] to save him!
No main?
@@artisanfps I can see you don't know much about hauté cuisine. An entree is a main.
Oyster Bay is one of the best affordable wines. For the $11 I paid I get superior flavor to anything around $30
Sooner or later Hoser's going to need to make a video about the Canadian economy to counter all the sensationalist videos I've been seeing everywhere about how Canada has become a third world country.
germany too pls
It is not a developing country
Yet.
2nd world
@mjr_schneider You're not in Brampton
1st world (USA and friends) , 2nd world (USSR and "friends") and 3rd world (the rest) are outdated political terms from the cold war era lazily used as an economic term because most of the third world wasn't industrialized at the time
The importance of co-ops in NZ cannot be understanded. For every sector, there is a co-op that helps farmers maximise productivity, bulk buy inputs like fertilizer, and negotiate higher prices
Your completely right, I'm hoping the government tries to jump the barrel on aquaculture to see if thats something that can be expanded and turned into a cooperative which would be cool to see
Aside from Fonterra, what co-ops are you referring to? The kiwifruit industry had something similar a couple of decades back, but has been deregulated since.
@@davidsteed7278 your thinking of zespri which is one of our largest kiwifruit exporters.
@@male_maid5951 I was thinking more of its legacy predecessor, which functionally used to be the ONLY kiwi-fruit exporter.
As an ex-kiwi… their riches are overly exaggerated. NZ has crazy levels of wealth inequality.
The _vast majority_ of the population lives in housing that would be considered unsafe in the USA’s Rust Belt, famous for being run down and painted with lead paint. The sheer amount of water damage and resultant mold is a national health crisis, it’s not a coincidence NZ has some of the highest asthma rates in the world.
Add onto this the sheer cost of consumer goods due to being in the middle of nowhere, and the tendency for monopolies/duopolies, and you have a place where the cost of living is higher than in most of the California Coastline population centres.
In other words, kiwis pay Silicon Valley prices for housing comparable to the worst in the USA.
I cannot overstate just how much value Lord of the Rings brought to the economy by reminding the world of NZ as a tourist destination. An absurd amount of the money actually available to the lower and middle classes comes from tourists and trickle-down effects from rich people buying bolt-holes.
Oh boy, we are higher than Silicon Valley in places... and over 10% of houses are unoccupied, rentals or AirBnBs etc... market is in failure mode
This is wild. I’m a dairy farmer in Taranaki where a lot of these photos and film are from.
New Zealand is the absolute opposite of our Dutch Zeeland, in NZ there are young people, in Our Zeeland there are only old men
It's NEW Zealand, of course the people will be younger. Perhaps if you guys renamed Zeeland to Newer Zeeland, you will have younger people.
@@forestreee then we can become Newest Zealand to become younger too, then the dutch can rename theirs New Newest Zeeland and bada bing bada boom infinite prosperity 😎
dutch zeeland is the world's number 1 consumer of viagra
Not for much longer. Our current governments policies are driving the biggest wave of emigration in decades.
@@forestreee Or just change the name to Zeewereld. That sounds newer already.
There are some flaws with NZ,
Its very centralised around Auckland, so if you don’t live there, you’re at a disadvantage professionally, and it also means country-wide wealth distribution is concentrated in Auckland
Theres no real intercity public transport, you’re options are to fly, drive or take an expensive pre booked coach.
The road network is awful, there have only been intercity motorways completed within the last few years, and even then they’re only dual carriageways, not full motorways.
Most places, especially coastal cities and towns, have only a few roads in and out, meaning if one road is closed the effects are drastic, as we saw with cyclone gabrielle, just because one single road got blocked, whole towns were cut off
There are no trains, apart from a handful of metros in wellington and auckland, again, no intercity rails, even though NZ used to have passenger rail everywhere.
The inter island ferries are owned by the national rail company of all companies.
And just as a social issue there are no people, so its easy to feel lonely, and pretty much every is closed and dead by 10pm, in europe we could go literally all night and still find people absolutely everywhere with so many places still open
edit: forgot to mention, we over-export most of our agricultural products. Considering NZ is an agricultural nation, i find it really stupid that we still have some of the most expensive dairy, meat, and produce in the world, despite us literally making it everywhere locally.
New Zealand is propped up by farmers, no doubt. But we do have some serious issues too. Cost of living is ridiculous, the bureaucracy is out of control and infrastructure is years behind what it needs to be. We also lose many skilled workers to Australia.
NZ peaked by about 2016 we have a world of misery with housing market being used to pump the economy in the coming decades.
Despite producing this much food to export, New Zealand's living costs are actually high compared to its median salaries. Hell, NZ food exported to other countries are actually cheaper than the ones sold in NZ.
Yup
But isn't New Zealand running into an issue where they export too much of their food and the price of food for the native New Zealand population is higher than necessary?
Yes, that's generally only meat though
NZ doesn't subsidise food production so consumer prices are higher, and we then pay the export price the farmer gets.
15% tax is added to food in stores.
A lot of prepackaged food is imported from Australia which adds to the cost.
NZ’s main problem is there is a supermarket duopoly which controls 80% of the market.
@@cg_2k72 Given the small population of the country no wonder there's only a few large grocery firms there. And only a few firms means they could charge higher prices. No wonder why New Zealand meat pies are a thing, I guess.
In terms of calories consumed, NZ is actually quite import-dependent. Even in the fruit and vegetable and meat section, a substantial chunk of stuff in our supermarkets is imported. Sure we produce a shitload of meat, dairy products, and temperate climate fruit and vege, but outside of that virtually everything is imported. It might be made here, but the raw product is imported - eg, NZ-made bacon from Spanish pork, or bread from Australian wheat.
A lot of pork comes from the EU, a lot of beef in our food service sector comes from Australia, all of our bread flour comes from Aus (due to mineral deficiencies in the soil), all of our rice comes from Aus/Asia, fruits come from everywhere, and finished goods/processed foods are mostly made overseas.
The netherlands is an even better example, this being because its a very tiny country but are ranked 2nd when it comes to agricultural output
The EU is doing its best to “fix” this. Keep your head down.
The netherlands has a higher population then NZ
@@danpop1235 I thought the Netherlands was flat.
@Xalta, you are a kiwi you have no right to speak on Euro politics (I don’t inherently disagree with you in this case, but it’s just not your place to speak on such things).
What a tight a...@@katelawyer3689
New Zealand has size of Japan, UK or Italy so it does not need to create production in other branches. In fact, it does not even need to shift all agriculture to productions requiring larger workforce on smaller plots of land, such as berry growing. But New Zealand farmers do not have "lifestyle choice" farms, and average dairy farm has around 500 cows with just one family working on it.
"Even though total sheep in the country has fallen to about a third of what if was in the 80s, sheep meat exports have actually risen"
I feel like there is a connection here...
Oh yeah one more thing: our gloriously exported food is more expensive in our own supermarkets than the ones it's being exported to overseas. Disgusting.
Your wrong they get export quality, we get bottom of the barrel quality.
And it's the stuff not fit for export
how tf?
I am a Kiwi of New Zealand that is also a farmer, and I thank you for being able to talk about us.
Amazing you showed SaltStick fast chews. Those are such a niche peoduct, but absolutely life changing for preventing cramps and replenishing electrolytes. How random! The peach ones are like my favorite candy.
Its 5am in this so called country as i watch this debut
Goodmorning boss
new zealand is a aussie pysop, im not falling for this one you fed
Have a great day 🫡
"So called country". Self shaming = cringe
It's noon where I'm at
Having spent several years there, I will always have a soft spot for New Zealand and it's people. I wish the determined little Kiwis all the best.
Hi vechs lol nice seeing you here!! I love ur maps
Hey, Vechs! I need to continue watching the "Waking Up" series!
Hi Vechs I used to watch you on Mindcrack
“Determined little kiwis” is pretty patronising… we have a far-right government we’re really going through it right now bro
5:33 most of New Zealand's soil isn't actually adequate for crop lands, livestock and wine, sure. However the statement about millions of years of volcanic activity making it fertile is just wrong, millions of years is still young soil without significant organic material. Nothing like the black earth of Ukraine, American Mississippi watershed, or Indonesian peatlands.
Even then, our most fertile soil around Auckland is wasted on suburban sprawl.
New Zealand is a lovely country with a significant livestock economy, but that is not the same as "fertile soils".
A large portion of the land used for dairy farming isn't actually suitable for it, and requires extensive irrigation as a result.
Come on! We do have fertile soil. Everything I pick and put in the ground grows, from flowers and vegies to trees. It is fertile!
@fairynuff167 Then why do we have to have large amounts of iodine added to our salt?
I live in hawkes bay. We have rich soil created from a flood plan like cyclone grabreile. 5 rivers in 20km of coast line. If rhat. Plus all the rivers flow underground and we have a huge aquafa. Add to that the amount of sun we get it's just prefect growing conditions.
@@kanoslayer2735Iodised salt isn’t mandated, it’s just a standard at this point. It was introduced worldwide to help prevent issues that occur from a lack of iodine intake (birth defects, miscarriages and goitres), as iodine is one of the least commonly occurring natural minerals in soil, occurring most near the sea, so the addition of iodine helps prevent that, particularly during pregnancies. It’s not really related to soil fertility as far as I’m aware, it can help plants to some extent, but doesn’t seem to be as crucial to them as it is in animals.
Nice for a country that is omitted in a lot of maps
I wish it didn't cost $40 for a leg of lamb in nz...
unfortunately new zealand gets both shitty quality and expensive food, probably because it's less profitable to sell food inland
Man if New Zeeland ever get 1# in Kiwi exports it would be the funniest thing ever
it is
I think we are.
They should do it, you know, just for shits and giggles
Ok I just google it and they actually are the #1 kiwi exporter, 3x as much as the next country
There's a reason it's called kiwifruit y'know, because it looks like our national bird. we had control over what it was named because we produce the most of it.
In the export graph at 2:33 some other chunks are also derivated from farming such as wood (from tree farms) casein, protein powders. wool, leather and some smaller ones too
Greetings from rural NZ
If only i could tell you about our infrastructure issues.. it takes 50 years to build a motorway
why use multiple logins ?
in case ur banned?
@craig3916 huh?
@@TheLIMREPORTNah fr though the bus route to college I take has a busy road that has needed repairs like 4 times this year💀💀
The infrastructure is actual trash in NZ
Yeah. Big (ish) country, few people. Never going to change. Although I think it was a massive mistake to privatise rail and send everything by road now. I reckon don't build motorways, incentivize people to move to the provinces instead - spread them out.
@@TheLIMREPORT See further down @DavidLimofLimReport
As someone living in NZ I thank you for this video ❤🇳🇿
also as someone living in recession 😹😹
One additional factor for low-cost dairy and meat production is the weather. As it is (relatively) mild year round, cows can stay out in the fields rather than having to be brought into barns and fed silage.
And yet it still costs $10 NZD for a block of cheese here :/
And that’s the cheapest cheese
I found this video to be quite enjoyable, everything blended together perfectly, with the music serving as an unexpected bonus that tied everything together neatly, like a well-wrapped Christmas gift. Thank you hoser :)
11:53 - Hey I know that Ford factory. it’s in Seaview, just outside Wellington.
New Zealand is famous for its relatively small but highly productive agricultural sector, which includes dairy, wool and meat production.
Damn I just rewatched your China videos all about how when you mess up the agriculture, you mess up the country.
Perfect timing!
Just a thing about the milk exportation, New Zealand is responsible for something close to 35% of all the dairy exports in the entire world
AOTEAROA MENTIONED CHURRRRR BOL!!!!
My family has a farm in the South Island, i love it. I genuinely can’t imagine rural NZ as anything else, other than the forests it once used to home.
Great video and good point on having a different outlook on economic progression around comparative value generation.
Successful is arguable. Not failing yet seems more accurate. Non-refining, service and export based economy is not the best long term outlook, but it's difficult to see a fix that doesn't involve a time machine.
Ive been lucky enough to grow up on an NZ dairy farm 🇳🇿 great video as usual!
Hoser: Makes a Video of how NZ is rich even with farming
New Zealand: Goes into recession.
In our modern capitalist hell recessions are inevitable everywhere.
new zealand is an inspiration, i hope that more governments and farmers can see that you can make a high quality and valuable agricultural sector by avoiding subsidies which encourage waste and the abuse of land.
amazing video hoser, really great job.
Pity they haven't sorted the nitrate pollution problem.
@@EpidianYeah it's beginning to become quite an issue. The fact that NZ only fully switched to dairy farming about 50 years ago and is already facing debilitating freshwater pollution makes me think we need to really dial back the ground/water pollution if we want NZ to be as prosperous and habitable in another 50 years time.
Yeah and price New Zealanders pay for there own food products and imported ones are so inflated after co vid that a kiwi who moved to New Zealand said the grocery bill in Australia made him cry tears of joy, because in New Zealand it was $1000 dollars in Australia it was $400 a $600 difference, if your charging your citizens that much for groceries I wouldn't call your farming policy's a success for kiwis as whole
substantial portions of the land used for dairy farming in New Zealand isn't actually suitable for it.
@laurencefraser yeah bro I don't know if your right. Because no one is going to do dairy farming on land that isn't 'suitable' for it.
If so can you explain how it isn't
tangential to this is the concept of economic complexity. what matters (according to that model at least) is not how much value you produce in the short run, but how diversified your knowhow is. For example, in year 1 economy A produces $100 worth of mutton per capita and economy B produces $10 worth of bamboo $20 worth of cotton and 10$ worth of wheat per capita. If they’re all functioning market economies with business friendly governments economy B would grow faster simply because it has more avenues to grow (bamboo-> paper-> notebooks) (wheat->biscuits) (cotton-> yarn-> t-shirts) than economy A which has potentially less options to diversify its knowhow. Through backtesting this complexity index which i’m not sure how exactly it is calculated, just enough to know it takes into account exports and their complexity, is a good determinant of economic growth.
I love the little eating sound and animation china bear has its so cute
9:50 I call BS.
Must be farm owners, not actual workers.(70% Undoc in US). And since "corps are people", many being centuries-old corps...
Absolutely the case. A lot of NZ's dairy Agriculture is done by younger landless "sharemilkers" who have flocks of livestock but have to find landlords whom they split the profit with. Meanwhile NZ Horticutlure is actually done by seasonal workers from the Pacific Islands who are paid and treated like shit.
Nah, that's accurate with just how everything is run. Where i work, we have farmers coming through daily. Basically, none of them are over 50.
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when someone is straight forward and good at what she does best. People will always speak for them. For me I can would say give Mrs Sharon Duke of finance education a try and you be happy you did
I started with 5,000$ and Withdrew profits
89,000$
Thank you hoser for making my country on a TH-cam video
It's funny that the price of food in NZ supermarkets is still insane. Apparently more then Australia
New Zealand mentioned 🥳🥳
Can't help but consider the irony given New Zealand sunk into a recession as of yesterday which isn't to detract from its agricultural success, just its recent monetary and fiscal policies.
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no
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Damn.
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wow, i never knew NZ was agricultural. i finally learned something from hoser that won't make me sound like a nerd when i brag about knowing it to my friends
4:10 spot on New Zealand satire accent
So glad he didn’t try an Aussie accent and pawn it off as a Kiwi accent
It really is, you can tell this guy listened to other Kiwis.
Nah listening to Americans trying to do a Kiwi accent is torture to me
@Xtraqk220 Hoser is Canadian, if that makes you feel better 😅
@Xtraqk220I didn’t say it was accurate but it was a good satire of it. Most North Americans aren’t even familiar with the kiwi accent and when they have heard it and try, it’s always an Aussie accent. This was noticeably kiwi but exaggerated.
Thanks every one, yeah we are pretty lucky down here. Very expensive, none the less it is home.
What a banger! Keep the good work up!!!
This has to be the best argument for worker co-ops I've ever seen
My regional security courses in university : there is no country in the world that can even come close to being completely food secure. New Zealand just silently exist being almost completely food secure. 🤔🤔🤔
It depend on what your criteria for "food secure" is. If it just mean enough food to survive, then a lots of countries can do that. However, if you also want variety, then yes, no countries can have food secure, even NZ.
When you are size of Japan, Italy or UK with population of 3.5 mil. it is not hard to be food secure.
@@mladenmatosevic4591 5 million (although i admit its still tiny lol)
@@mladenmatosevic4591 We haven't had 3.5 million people in a long time.. something like 1.2 million immigrants in the last decade alone
@@JimmyWelds 5.3 apparently and a third are immigrants.
The fact that we get free videos on TH-cam by Hoser is truly a gift; keeping education and knowledge alive. 👏🙏🏾🤷
Agricultural economies can become rich if they export their goods and rise up the product value chain
Thank you for your commentary. I have to say it was hard work getting to where we are. At one time we had a protected economy which was impoverishing us. Believe it or not at one time we had a car industry, which was really a car assembly industry. Our cars were among the most expensive in the world. We removed protectionist tarfiffs and subsidies in the 1980s. The car indistry collapsed along with the protected clothing and other industries. The result led to an economy based on what we do best - agriculture. Thank you for mentioning our agricultural co-operatives. New Zealanders owe much of our wealth to these. Imagine if the corporate model took control of our co-operatives. Instead of farmers and our provincial towns reaping the benefits, the benefits would go to shareholders in other countries.
thank fuck our older generation of farmers were at least economically leftist cos we know damn well that would not have happened with a lot of the population now 😭
What do you know about hard work? My gumboots have holes and I can't afford new ones. You don't speak for us farmers, Fonterra sold the golden goose by going back on the Rochdale principles and inviting external shareholding, something that could only have happened under a National govt' -- now they're on track to become the next Synlait and already sold down some business units.
Damn New Zealand during the era of farming subsidies sounds just like my country (India) right now.
The govt tried to bring new reformed farm laws which will increase farmer's productivity through private companies & the farmers protested against it 🤣
But they haven't given up
They broke up all those new reformed laws they thought of & converted them into hundreds of small laws which they are implementing one by one sneakily at the state level so the farmers don't notice it 😅.
Great place. Expensive to live there though.
It’s not free trade. Its farmers have huge plots of land. The same is true in the USA. The thriving farms in US are massive farms. You can make a good living from a 10,000 acre farm. Low population with lots of land = farmers with lots of land and can make decent income. In other countries poor farmers have 1 or 5 or 10 acres. Barely enough to feed the family let alone get money from the surplus.
Also for those sized farms you can't justify the capital for mechanisation that makes farming so much more efficient. a 10,000 acre block can justify buying a fleet of headers at 500k a pop, and require much fewer . 100 different farmers on 100 acre blocks will be stuck holding their dicks and probably working the same hours for a miniscule fraction of the revenue.
100% A farmer who owns 10,000 acres benefits from scale. They are always the ones that can afford cutting edge ag tech which just makes farming easier and more profitable. Meanwhile the poor shmuck that has 10 acres is simultaneously getting shafted by a house and tractor mortgage 😂
An economic unit in pastural farming in NZ is closer to 1,000 acres, depending on the level of debt servicing. A 10,000 acre pastural farm would more closely resemble the Yellowstone TV series than a 'typical' NZ farm.
@ the largest farm in New Zealand is 500,000 acres.
@@gj1234567899999 How is identifying an extreme outlier relevant? The scale of a rather unique govt owned high country farm/station heavily involved in research, tourism and conservation is not representative of most privately owned pastoral farms in NZ.
Hoser never fails to fail at agricultural development
How do you research for these videos man, they're fantastic and so informative.
Mate beef and lamb here are fucking expensive sometimes we find our own stuff cheaper overseas
Those cows are fucking ludicrous, i love them
Can't believe your New Zealand video didn't mention the word "Kiwi" until minute 13:57
Been missin' u hoser
New zealand went into recession literally today 😂
Come on, nz 🇳🇿 🥝
I binge watched all of your videos so im happy to see a new one 😹
You should've used the Lazer kiwi
Well done. Some extra detail is that being subsidized lead to being pillared in the media for years. Farmers even with the pain of deregulation, and subsidy removal generally supported removal because they were of being tired of the negative focus. The associated industries beyond the farm gate stayed expensive, and inefficient because in reality that is where a fair chunk of the subsidies ended up. The dropping of subsidies hit these sectors as much as the farms themselves until everyone was lean enough to survive. Subsidies were also uneven with the majority going to sheep, and beef while the world changed around them. The dairy industry continued a relentless push for efficiency. The large fund kept by the dairy board to smooth out payments for bad years was available at no interest to the GOVT. This meant the dairy industry subsidies the GOVT in all those high inflation years, and not the other way round. This enabled a farming industry with high ongoing relative returns that otherwise uneconomic farms could join. Local and central GOVT in NZ has always focused on road development so goods can move efficiently. This bricks, and mortar approach across GOVT has enabled each pillar of modern infrastructure to stay up to date, and efficient benefiting our farmers. I would also question whether a country, and region with an economy dominated by the service industry can survive at scale economically without cheap fuel, and a banking sector making money out of poorer countries. This masks a lack of an economic backbone in a world no longer capable of endless growth within limited borders.
New Zealander here love my country but it fucking sucks since everything is so expensive
Same here mate🇳🇿🇳🇿
Honestly I'm 21 and am definitely moving to aus in 2 years shits going down hill, and I've lost hope here. I can still succeed I rekon here but I think the government just wants to screw everyone over. I love living here but I hate the politicians on all sides.
It sucks when your country is sold out to greedy corporations
Nz peaked 1996-2016😢 it's now only for the people who purchased a house before 2016 and have serious equity.
yeah man
Kinda ironic that this video comes out as new zealand goes in a recession.
Me watching this at work and getting paid for it
Newzealand has best quality milk, i have heard.
As an American dairy farmer I can assure you that New Zealand does foreign policy the best I don't want any subsidies or anything like that I just want to be able to compete in the free market
American dairy farmer? You legend 🇳🇿🤙🏽
Damn, what a great video, I feel like you are getting very profesional with these late ones. I’m no geopolitics/economics expert but I feel like you are very unbiased
I wouldn't say we are "successful" when our residents pay export prices for our own food. Worsened by a price gauging supermarket duopoly.
We have an economic system that's deadlocked to inflating house prices than actual productivity.
We top the charts in homelessness and suicide rates.
Our current government removed smoke-free initiatives, imposed public service cuts so that they could give tax cuts to landlords.
Our public health care is on the brink of collapse. Ambulances wait in line to enter hospitals, patients wait a whole day in emergency department and rural areas with no doctors.
I don't know how to describe this country in one word but I know it's certainly not "successful".
idk man the economy is better than other agricultural places like Argentina and its not that hard to get a job thatll pay for rent and food. We have a pretty sweet country, don't need to be too down about the economy.
If we have to spend more on food because we export it at high costs and we have to pay so much for houses because of the tourists who come here and want to stay the benefits outweigh the drawbacks.
Housing is a problem in most western countries for the same reasons. The public service sector had become bloated under the previous govt and was failing to meet its kpis despite all the extra staff.
@@qcthesxientistdepends on where you are, frankly. Spent 2 years in Porirua unable to get a job anywhere commutable in the Wellington region.
Up in Manawatu? Yeah you can probably make a seasonal living with nothing but a can-do attitude. In the cities though it’s 100% about connections, if you don’t have a business-owning family member or family friend willing to make a job for you, you’re kinda fucked. Especially if the AA is fucking you over to pass their quotas for more failed driver license tests.
@Cray, the whole world sucks, it’s not that your country doesn’t suck, but rather that it sucks comparatively less than the majority of the world. Try the US of A these days it’s got everything you mentioned plus extra times ten.
I love your channel. Intresting and educational. Do what your doing, it's great!
Missed these country specific videos.
10:10
Actually they did cut subsidies to boost the economy. It was a part of “Rogernomics”, the big economic plan Roger Douglas laid out. He saw subsidies as the government “picking winners” which lead to inefficiencies
Go go gadget British colony.
Go go gadget (few indigenous people island) British colony*
Interesting, straight to the point and no ads. Great vid 👌
Live here not as great as this is trying to make it our exports cost more for us than people buying them
Kinda the point of vid. Meaning, it's far worse in Bolivia, Guatemala, Moldova...
Hoser, by making this video, you've just summoned the entire country of New Zealand, good luck!
Can you make more videos about Finland? As a finn i would like that❤
Finno-korean hyperwar
He already did a while ago
Yeah i know he made thats why im asking for More, did you even read My comment?
hoser this is one of your best vids dude
As a New Zealander: Damn, if this success I'd hate to see what failure looks like.
Right now there's a child building a tiny violin for you to order and play
@@Brooks.was.here9024they need it if you new the the price they pay for food and wages to get it,Australia is much better
Success is high productivity
Failure is low productivity
Haha yeah success is relative, New Zealand is messed up as of current but the majority of the world is even worse lol. I would know I live in the rest of the world (not Oceania).
@hamish, doesn’t matter if Australia is better because that’s still Oceania. Most nations outside you Pacific bubble suck far worse than New Zealand does.
Ironically, despite producing so much food, food is brutally expensive here.
And yet we pay outrageous prices for our food here as it's mostly exported.