I note there was no attempt to pronounce Groningen. I'd recommend any bystanders keep their distance if you do! On a more relevant note, the NL population surprises me. I have this idea that it's 25+ million. It just seems too important to have any less!
The Netherlands doesn't have 'one of the oldest stock exchanges in the world'. They have THE oldest stock exchange. The first ever stock exchange the world has ever seen. They literally invented the modern stock exchange as we still know it today.
One of the oldest... because they didnt invent the modern stock exchange. There already existed stock-like exchanges in Venice, Genoa, Barcelona and some other comercial heavy cities. One of them is Anwerpt in Belgium, then in Amsterdam as well. So its origins in the Netherlands alone is doubtful.
@@Alejojojo6 Strictly speaking, the first stock exchange was the Amsterdam Stock Exchange, established in 1602. However, as far back as 1531, Belgium (Antwerp) had a stock exchange, except that stocks weren't actually traded. Instead, promissory notes and bonds were traded between parties. The keyword is "Exchange" or index. Stocks are as old as the Roman Empire, but they were not traded on any market, we started (invented) this.
@@Alejojojo6 lol you got it the other way around the stock exchange as we know now was created by the Dutch but they were'nt the first that was probably Belgium but it wasnt a stock exchange as we know today
inb4 some Chinese guy shows up saying, "Actually, a thousand years ago..." And he might even be right because that's just kinda how Chinese history is, haha.
ASML is more of an international company than it is Dutch Look how the US was easily able to force ASML (a Dutch company) to not sell products to China out of the interest of US "security" ASML is Dutch by name and location only
@@toyotagaz Lol you can say the exact same thing about any MNE. Apple, Google, Meta, Cola, etc are still US companies even if they operate internationally.
@@toyotagaz Quite ignorant. US does not force anything. ASML decisions are made in the Netherlands. It is not in anyone's interest to do business with China that concerns new technologies. Just because the US is playing a role in politics on the global stage does not mean they tell companies what and what not to do.
8/10 seems fair, maybe even a bit on the high end. It's not the place for large multinationals nor innovation anymore but the country itself is highly diversified. I Looked at Balassa and GL scores for their top exported products and none particularly stood out, indicating diversification, which is good.
"It's smaller size means it does not have much in the way of its own global companies or world leading industries." Is it me or do the Dutch, *despite* their small size, have some pretty significant global companies?
One thing to notice as to why the gas is staying in the ground, is that the extraction was causing a lot of property damage in the cities above the gas fields through earthquakes, and that ate the entirety of the benefits and then some, removing the economic argument for extracting the gas.
"Removing the economic argument?" Thats not just a small argument you know. 25% of the natural gas of Europe can move all inhabitants of Groningen city, east Groningen and Friesland if you're feeling fancy to a new city on reclaimed land 😂.
@@xanderx2523 while it could, the netherlands cannot afford to lost such a large chunk of land, nor is it politically possible to abandon it. Two seperate governments have been forced into early elections over the Groningen gas field damage. (One over the lack of an environmental impact study before granting licenses and another over stalling on damage compensation) and trying to reopen them will kill future governments.
@@xanderx2523 I'm pretty sure I read somewhere else that the Dutch are still slowly losing land each year. I'd imagine if sea levels do rise significantly this would get much worse, so they're probably in no rush to give up land for revenue they apparently don't need
the problem is that unlike the Netherlands, most don't have the knowledge needed to succeed in a challenging economy and markets. Only highly qualified professionals who had to experience the 2008 financial crisis could hope to earn a high in these challenging conditions, they have experience economists handling their affairs. Ignorance is a thing of the past in the Netherlands.
It's crucial for individuals to diversify their portfolios, seek professional financial advice, and stay informed about market trends to navigate these challenges effectively.
Tax planning is also crucial for optimizing investment returns. If not planned well, taxes can eat into your gains and significantly affect your portfolio growth.
That's true. Changes in tax policies, both domestically and internationally, can have significant implications for investors. It's crucial to work with financial advisors who understand these complexities and can help navigate them effectively.
As far as world leading industries goes: The dutch build lithography machines used to manufacture basically everything that was used to create this video, as well as every device used to watch it. As a German I can't disregard our optics going into these machines, but still quite world leading if you ask me^^
most devices and computers even an Iphone has a majority of Japanese technology, besides that ASML will leave for France soon or any other country that offers them tax cuts, we are not making any money on them if you compare it to the damage they cause to the local people and universities
I guess the question becomes, "How niche of a field can one lead before it seems not very impressive?" There are even developing countries that lead in certain domains, but it doesn't change the fact that they are not fully developed. So, rather than asking if they lead anything, it really resolves to, "Do they lead anything that couldn't be replaced by someone else if they disappeared tomorrow?"
Very ambiguous. Same level of relaxation? Same level of intoxication? Same level of drug use? Same level of poor driving? Same level of munchies? Same level of non-essential spending? Same level of what?
Having an economy based of a reduced workload, meaning employees working part-time instead of full-time, yet still successfully maintaining the economy, is a similar principle seen with the cardiovascular system. Increasing the efficiency of the heart by doing less work to maintain adequate blood flow is a healthy adaptation of exercise training.
The Netherlands is a global leader in advanced lithography. Without which all the most advanced micro electronics in the world would not exist. ASML (Dutch) makes the machines that TMSC (Taiwan) uses to make the chips that go into our mobile phones, our computers, and increasingly other electronics in our smart homes.
ASML isnt Dutch, Multinationals swap identities whenever they feel like it if they get a better tax cut deal elsewhere. Dont be surprised if its a French company soon!
Closing the gas fields was done because it caused earthquakes not really because of the environment. It is also quite overstated how important it was for the total economy. The tax haven thing has mostly been fixed apart from royalties and such. The part-time work culture is politically mostly seen as a bad thing, most parties want to make it more attractive to work full-time. Perhaps a mention of ASML would also have been nice.
yeah the part time culture is very badly set up, at the same time the gov promoted working less hours it created an issue for people that do actually need the money but can now only work part time. If they take on a 2nd job to fill the meets they will get taxed double on the 2nd job. Which is ridiculous
The Dutch approach to shipping and finance would also help one of its former colonies become the economic capital of the world. New Amsterdam, now New York City, still has much of the Dutch economic esprit of its founders.
You should do a video on how much transportation efficiency contributes to the economy. I was in Texas recently and it felt like half the state was paved over with roads and parking lots. To get around we needed to spend $15-20 a pop on Uber (or hire a car if we’d been staying longer). Contrast that to a trip we made to the Netherlands. We hired bikes and took trams, and spent no more than double figures on transportation. Of course all those Uber rides look great in the GDP figures, but it’s a huge use of resources to achieve the same outcome. I would love to see your take on this topic, since I don’t have formal economic training, but I feel that the effect must be huge.
The Netherlands is a very small country. As such, the distance between major towns are very small, and that makes bicycling an actual viable option, especially with the flat terrain of most of the country.
just a little heads up that the West India Company was notorious for very different reasons than the East India Company - it was a thin facade for piracy, the actual arrr kind not some kind of metaphor
About the part time work: It’s actually a ongoing issue here in netherlands. There are too many subsidies for people under a certain income, so a lot of people will lose money if they work more hours (as they would lose the benefits, there are pretty hard cutoffs) That is why so many people just work less, because they would lose money working more. That is not a good thing
not only that but childcare is extremely expensive and it's literally cheaper to work less days and take care of kids yourself than working and paying for daycare
Nah. I just decided to work a day less so I can spend some time on my hobbies, or enjoy the weather. No financial incentive, just happy to enjoy a day off.
I think its a bit more complicated. Yes the average worker works relatively few hours per year in NL, but the labor market participation rate is very high (so more workers than in most countries per capita). Because parttime work is generally (socially) accepted for both men and women, people find it easier to combine paid work with child rearing, taking care of elderly or sick relatives ("mantelzorg"), taking care or yourself or having time consuming hobby. So more people are in some form of paid employment.
Not really? There essentially two major groups of part-timers. Married women and higher educated workers. The latter make way to much for the benefits to be relevant. These people just value their time more than their wage.
The gigantic port at Rotterdam is why the Dutch economy is booming--it is a huge trans-shipment point for goods and in and out of continental Europe. That's why there are huge investments in railroad facilities in the Rotterdam area, much of which were built by German companies.
Weird detour you did on the relative scale of the VOC in today’s terms. It is indeed very hard to measure the true value of it but I think most people can agree it must have been one of the most powerful companies to have ever existed.
It may have been the biggest in terms of what percentage of the global economy that one company represented, it was certainly a lot bigger than most countries at the time.
Let's look at the relative scale in 17th century terms. It had not more than 200 merchant ships at it's peak, while the European fleet of the Dutch merchants was in the tens of thousands.
@@102728 Some Canadian media company did some bogus calculation and now YT is full with it. Lots of videomakers have so little knowlegde that make the things they think they know (but don't in this case) all important to the story.
Yeah. IIRC EE called out Ireland for inflated wealth figures due to it's tax haven paper/corporate wealth which might as well not exist for the people. Why not The Netherlands?
@@ovibiswas7849you must be joking. At this moment it’s ranked the #21 largest company of the world based on market capitalization with plenty of growth potential.
@@ovibiswas7849 Brother, Asml is one of the most important companies in the entire world. Without ASML, our technology would literally regress by a decade. Without ASML the largest companies could not exist in the manner they do today. Like the iphone 12 would be the most advanced generation of phones with its android counterparts and such.
Coming from an academic economist here, I think you guys should include the gini coefficient in your ranking of countries. HDI might also work as substitute for gini and gdp per capita
I think the adjusted gross disposable income of households per capita in PPS would be a good indicator to show living standards. I wonder if you counted it with the part of the population that is not in social housing programs which is extraordinarily big in the Netherlands, what would it look like if now it is below Germany or Austria.
@@piecia66 great comment. I think they have to deal with ease of understanding for a TH-cam audience, so including a gini should (somewhat) account for this.
A dutch industry that is extremely important and yet not very well known is that they are the ones to build the machines used to create semiconductors. All the best semiconductors built in Taiwan are made using those dutch machines, and therefore all the world is reliant on these dutch machines. It is a huge thing for them.
@@anlasma7942 they dont, usa just wants ASML not to sell their latest tech to china. ASML still sells older machines to china. stop spreading false information
@@w33zyNL since they started modfying said older machines to enhance their capabilities they will stop selling the older models too. And these bans will extend into Russia. You may argue that the Russian ban is common stance in EU not because of USA but no need to fool ourselves, If USA doesn't agree, no one else is getting anything.
@@w33zyNL Yeah and when the usa 'just wanted' a thing, ASML immediately complied, losing a market worth billions. That's a pretty clear indicator of who they answer to.
I feel like for growth and industry you forgot to factor in industry leaders like ASML (and to a smaller extent Philips). ASML in itself is a large part of the economy, and is growing massively, recently announcing they want to double their workforce in a few years.
A former co-worker's parents moved to the US from The Netherlands before she was born. She related that while her parents were growing up in The Netherlands that at dinner when a question was asked in one language, then the person asked the question needed to respond in a different language. I think she said they rotated among Dutch, English, French, and German.
Dutchie here. Doing that at dinner isn't something I heard of, but languages are still quite prioritized in schools here. Dutch and English are mandatory until end of high school (aged 16-18). The first years of high shool also include German and French, one of which has to be done until graduation. Many schools offer extra languages as a sort of expansionary course. Spanish is most common, but I've also seen Russian, Arabic, Japanese and Chinese
@@snake88ification Yeah... no. England isn't doing that great, but they have a massive helicopter of an economy in London; Scotland has got several natural resources, which the SNP are trying to leverage, but they're still quite poor; Wales... Wales is a mess; Northern Ireland has the advantage of the Customs Union, and the UK's mediocre backing, but their Government system is a mess.
The golden era of the Netherlands is over , high inflation, housing crisis, decrease birth rates , high taxation which lead many big companies to move their headquarters out of the Netherlands. One thing i noticed in Netherlands that people who work less or even non gets more benefits than full time hard workers and entrepreneurs. 😢
A better way to compare the size of the Dutch East India company to Apple would be to calculate their size as a percentage of global GDP at the time, rather than calculating the actual amount and adjusting for inflation. This is a similar issue to the way you computed putting the Roman Empire on the leaderboard.
yeah but thats hard to do as it was an autonomous company, even the navy and army of the voc was the dutch them selves where very poor at the time it also was a kingdom and not a democracy back then
ASML is more of an international company than it is Dutch Look how the US was easily able to force ASML (a Dutch company) to not sell products to China out of the interest of US "security" ASML is Dutch by name and location only
@@toyotagazwhy would that make ASML an international company? Our suzerain decides our foreign policy of course, but does that mean all companies in the world are either Chinese or American?
@@MartinDeHill no, it just means the US gets to dictate who ASML sells to based on how the US feels on a Tuesday afternoon Bc at ASML, who cares abt Dutch interests?
Great video, shows off much of what the Netherlands has achieved. I do find it remarkable that the food export is not mentioned. The US has the largest food exports in the world (140 billion dollars), whereas the Netherlands is second (100 billion dollars). This is quite a feat, since the Netherlands fits almost 240 times in the States.
One reason I could think of why they are "so different" and can adept such a different economy is that they made landmasses themselves. Many, many countries have mountain-like terrain and just aren't as easy to farm on. Also, because the terrain is pretty much man-made it can be very fertile.
Unfortunately the Netherlands is experiencing one of the worst housing crises in the world right now, and combined with food prices skyrocketing, it's not all sunshine and rainbows for the average citizen.
Hello everyone, thanks for the video. But it isn't complete. Yes, we stopped with natural gas in Groningen, but we are going on with natural gas in the Waddenzee and Noordzee. There are many more things to say. Look at other video's about the Dutch in the Netherlands. Have a great day. Arie the Dutchman.
13:34 ALSM? Don't know how you could be more world-leading than that. They are the only once capable of producing the mashines that produce the leading edge computer chips. Without them TSMC would not be what they are, and without that Nvidia, Apple, Intell, Google, ... none of the tech giants would be where they are... srsly, that was an understatement. Sure, they rely on other "'small' world leaders" as suppliers (like for example Zeiss for their optics)
On the industry score you mention that it loses points because of lack of global companies. ING, DAF, ASML, Philips, Heineken and Aegon would like to have a word.
Natural gas, being a in-EU tax haven and ASML - Apart from that they have great urban planning and social standards but they live mostly from siphening of hard-earned profits from European operations of major companies due to their tax incentives rather than building an own strong, diversified export economy - And they have the Port of Rotterdam as long as sea levels don't keep rising too much. Awesome urban planning, though
@@Homer-OJ-Simpson The "Best" is very definitive, but Dutch urban planning is excellent nontheless - However better than for example Copenhagen - I don't know. Still Northern Europe (as in the Northern part, not only Scandinavia) in general does an amazing job at that
Sea levels at Rotterdam are rising by 1.9 mm/year. Being a tax haven is not much good to the country, rather the product of the neoliberal ideology of recent governments. There is a lot of service industry that indeed needs goods production elsewhere but there is a strong, diversified export economy too. A lot is just not consumer end product but a lot of intermediate goods.
entire world runs on chips made from ASML equipment, not sure why you say " it doesn't have much in the way of its own global companies", that single company literally shakes geopolitics.
Good point. It depends on your benchmark. Compared to the US, DE, ES, FR, IT, JP, KOR it doesn't have much. Compared to most of the world it does Allright.
@@ovibiswas7849 ASML engineers some of the most complex pieces of machinery in the world. Sure that machinery is used for manufacturing, but that doesn't mean ASML just does manufacturing
It's consistent with his other videos. EE almost never gives smaller countries more than 8/10 in industry, simply because they are outmatched by larger countries with several times the number of world-leading companies.
The big natural gas bubble found in the Groningen province in the 1950s has mostly contributed to this. Most of its modern day infrastructure (railwaye, highways and waterworks) and social/welfare programs for its population were financed by this.
You can see there aren't many Dutch in the comments section and that is probably because they are out living and enjoying life. Where people like me in the UK are just miserable and depressed and are looking at examples of how a country should be run. It would be so nice one day to actually experience a place in the world that has optimisim and a future, rather than a depressing every man for himself mentality here in the UK.
Interestingly, the Netherlands is one of the most remarkable escape room communities in the world. There are dozens of world class games doing mind blowing things.
13:36 how about ASML. TSMC and thus the entire world is reliant on this single company to give them lithography machines for the production of the most advanced semiconductor wafers.
Should human development index be taken into account when looking at economies rankings? As mentioned it is important to see if the strength of an economy is actually translating to helping its people efficiently. That is the purpose of an economy at the end of the day and not including some measure of that is telling.
Dutch guy here, we work a lot part time, yes, but that's because we need both men and woman to work to be able to affort life. I work parttime and my wife too. We both use our day off the look after our son because sending him to day care everyday would literally bankrupt us.
@@joaomramalho1it's more of an enabler, the Dutch sandwich for instance. You want to talk about tax havens have a word with the UK, they've got more than a couple in the top 10.
Please do a breakdown of how the Petro-dollar agreement worked & it's effect on the global economy. Also give us your thoughts on how things might look going forward.
The Dutch are good at education. But the world would be better off with one universal international language, so that nobody has to learn 3+ foreign languages, except linguists.
4:34 Comparing inflation-adjusted valuation of the VOC (which at best would be guesswork) to the GDP *at that time* looks like a mistake? What was the valuation in Dutch guilders? How did that compare to the GDP of the world at the time?
world GDP is honestly impossible to guestimate during that era, not only because of the different currencies but because 'standards' such as gold and silver had vastly different prices depending on the region
The reason for part time working is also partly due to some of the highest daycare costs in Europe. For many people it's simply not affordable and hence mainly women work part time. It's very backwards.
Has any country cracked the code on making child care more efficient, allowing care providers to earn decent wages and keeping it affordable without subsidies?
@@scottvonasek3706 I don't know about subsidies, but in Denmark you pay 1/4 of the daycare costs, while paying the same income tax (I've worked in both places)
@@berendbouwmeester705 This is very incorrect, I refer to the middle class being totally ripped off. It might be very cheap for unemployed people, but that is no meaningful comparison.
To everyone saying the Dutch aren't rich, just try living on a part-time salary anywhere else in the world. What the video doesn't stress enough (imo) is the stability factor. I come from an Eastern European country that has quickly Westernised and yes, the growth might be higher but the stability is lower - so when the economy goes down it really goes down. The Dutch got 5-7% inflation last round? The Baltics got double that plus higher unemployment.
It is a bit rough now, with the titanic housing crisis, nitrogen crisis, power(net) crisis, aging & staff shortage, drought AND floods, social problems, populist politics, grinding bureaucracy etc etc.
Indian first gen migrants in Australia own standalone houses in Sydney suburbs. Native Dutchman with tertiary degree well in his 40s live in shared flat in Amsterdam or commute from his studi apartment in Almere. That is why. Remember efford/ reward curve?
About international companies having headquarters in Netherlands - until very recently even Yandex - by far the biggest russian tech company - was officially registered in the Netherlands
@@JSK010 No, they were forced to split last year. Maybe head company still exists as an entity, but by now it has no official ties with russian Yandex. It is also stated in the end of 'history' section in your wiki link
You undermine your credibility by using AI images without attributing them as such. The six-wheeled cart at 6:01 for example. Wouldn't it just be better to use relevant historic photographs or paintings with attribution?
Dutch person here cost of living is insane nowadays. No one except boomers or rich can buy any properties and rent is insanely high. Its a complete broken system country wide
I think the almost paradoxical nature of normalizing part-time work, which somehow actually increases productivity because it makes it more approachable to more people is something a lot of other countries (looking at you, USA) could learn from. When I hear other people talk about their work conditions, like taking vacation days being a social taboo, I'd also be depressed.
The reason we have so many part-time workers is not entirely correct imo. The government gives out loads of grants to low income earners that don't pay to much taxes. When someone starts to work more they lose the grants and pay more taxes. This means the average worker has to work exponentially harder to see any improvement in life. So, to still benefit from grants and lower taxes while still seeing improvement in life quality, people just work less.
And the exploitation of small country to the very end, until there's nothing left. We have the Republic of Naru as a big example of that, the country is not even guaranteed to see the 22nd Century.
How do you do an analysis of the dutch economy including history and not even mention the Tulip craze in the 17th century which is arguably the first meme coin of sorts‽ They even have a museum about this!
No, we stopped drilling for natural gas because our entire country is highly developed, so having local earthquakes is devastating for the thousands of people living there. Compare it to places like Russia or Dakota in America or Canada massive resource extraction is far away from population centers.
No, the drillings cause earthquakes resulting in huge damages to infrastructure and housing in the region. Revenue from the drilling could easily cover the damages but in a lot of cases entire neighborhoods need to be rebuilt which is deemed unfair by local residents, not to mention the fact that you can’t just bulldoze the dozens of monuments and reinforcing those is often near impossible.
What annoys me as a Dutch person is that the 'Dutch disease' is considered to mean a 'overdependence on natural resources' when it was a hit on exports due to the rise in value of the national currency following the discovery of natural resources making exports, in the short term, less competative.
The Netherlands is and was a global export champion. Being the 6th largest exporter by value in 2023 after China,USA,Germany,UK,and France. Beating the likes of Japan and South Korea.
Hey man, having an argument on whether this math is accurate. Any chance you could do a video on it? If there is this much money in shipping why aren't more ships being built?
Sign up on Trading212 at www.trading212.com/promocodes/EE and get a random fractional free share worth up to €100!
Good stuff/
Please remember that it's not a bank and not backed by any government so you can lose it all. This interest is the result of investments...
''doesnt have much in the way of its own global companies'' what about ASML and philips?
Plzz make a video on Pakistan economy
I note there was no attempt to pronounce Groningen. I'd recommend any bystanders keep their distance if you do!
On a more relevant note, the NL population surprises me. I have this idea that it's 25+ million. It just seems too important to have any less!
The Netherlands doesn't have 'one of the oldest stock exchanges in the world'. They have THE oldest stock exchange. The first ever stock exchange the world has ever seen. They literally invented the modern stock exchange as we still know it today.
One of the oldest... because they didnt invent the modern stock exchange. There already existed stock-like exchanges in Venice, Genoa, Barcelona and some other comercial heavy cities. One of them is Anwerpt in Belgium, then in Amsterdam as well. So its origins in the Netherlands alone is doubtful.
@@Alejojojo6 Strictly speaking, the first stock exchange was the Amsterdam Stock Exchange, established in 1602. However, as far back as 1531, Belgium (Antwerp) had a stock exchange, except that stocks weren't actually traded. Instead, promissory notes and bonds were traded between parties. The keyword is "Exchange" or index. Stocks are as old as the Roman Empire, but they were not traded on any market, we started (invented) this.
@@Alejojojo6 lol you got it the other way around the stock exchange as we know now was created by the Dutch but they were'nt the first that was probably Belgium but it wasnt a stock exchange as we know today
inb4 some Chinese guy shows up saying, "Actually, a thousand years ago..." And he might even be right because that's just kinda how Chinese history is, haha.
"Doesn't have its own global companies or world industry" stares intensely at ASML 👀
ASML is more of an international company than it is Dutch
Look how the US was easily able to force ASML (a Dutch company) to not sell products to China out of the interest of US "security"
ASML is Dutch by name and location only
@@toyotagaz The US can do that with any western company. Besides, it's not like the Netherlands disagrees with the policy of keeping down China.
@@toyotagaz Lol you can say the exact same thing about any MNE. Apple, Google, Meta, Cola, etc are still US companies even if they operate internationally.
@@toyotagaz Idiotic comment
@@toyotagaz Quite ignorant. US does not force anything. ASML decisions are made in the Netherlands. It is not in anyone's interest to do business with China that concerns new technologies. Just because the US is playing a role in politics on the global stage does not mean they tell companies what and what not to do.
Industry should probably score more than 8/10. No mention of ASML, NXP, Philips, Heineken, DSM.
8/10 seems fair, maybe even a bit on the high end. It's not the place for large multinationals nor innovation anymore but the country itself is highly diversified. I Looked at Balassa and GL scores for their top exported products and none particularly stood out, indicating diversification, which is good.
Philips is a shell of its former self. only its brand appeal has remaining value
IBM
They are the 2nd biggest agg exporter in the world to
@@deeptoot1453ASML and the industry around Eindhoven begs to differ. A lot of automotive innovation is happening here (look up Lightyear for one).
"It's smaller size means it does not have much in the way of its own global companies or world leading industries."
Is it me or do the Dutch, *despite* their small size, have some pretty significant global companies?
ASML is quite a big company, has a big market share in the chip machine manufacturing.
ASML, Shell, ING Bank, Heineken, Galapagos... The Dutch have plenty of global players.
Philips
@@JerkandDork Shell is really british tho
It literally has THE leading world companies in tech and energy sectors.
Let’s just hope they don’t crash the market over tulips or something.
Don't worry we learned from the last time. This time we'll crash it by enabling tax evasion!
Insert “Tulips on my organ” joke
While oregano is flowing no issues... 😂😂😂
I read the title as "What makes Neanderthals so special?" and was very intrigued about neanderthal economic system analysis.
Should’ve gone to specsavers
Honestly, the way the country is going politically makes neanderthals surprisingly accurate
my neighbour is neanderthal and very friendly
Neanderthal special we humans too. We do same and work same. Neanderthal are special.
Next video⁉️😹
One thing to notice as to why the gas is staying in the ground, is that the extraction was causing a lot of property damage in the cities above the gas fields through earthquakes, and that ate the entirety of the benefits and then some, removing the economic argument for extracting the gas.
Yes, wasn’t really environmental. Environmental issues where causing major economic issues whether lead to financial net gains of gas diminishing
It's more that our WEF-puppet government is trying to destroy the country, and we were making too much money from natural gas.
"Removing the economic argument?" Thats not just a small argument you know. 25% of the natural gas of Europe can move all inhabitants of Groningen city, east Groningen and Friesland if you're feeling fancy to a new city on reclaimed land 😂.
@@xanderx2523 while it could, the netherlands cannot afford to lost such a large chunk of land, nor is it politically possible to abandon it. Two seperate governments have been forced into early elections over the Groningen gas field damage. (One over the lack of an environmental impact study before granting licenses and another over stalling on damage compensation) and trying to reopen them will kill future governments.
@@xanderx2523 I'm pretty sure I read somewhere else that the Dutch are still slowly losing land each year. I'd imagine if sea levels do rise significantly this would get much worse, so they're probably in no rush to give up land for revenue they apparently don't need
the problem is that unlike the Netherlands, most don't have the knowledge needed to succeed in a challenging economy and markets. Only highly qualified professionals who had to experience the 2008 financial crisis could hope to earn a high in these challenging conditions, they have experience economists handling their affairs. Ignorance is a thing of the past in the Netherlands.
Honestly this cannot be overemphasized, helping people mitigate unforseen circumstances and mistakes .It's always good to have a financial plan,
It's crucial for individuals to diversify their portfolios, seek professional financial advice, and stay informed about market trends to navigate these challenges effectively.
No doubt, making smart plans and setting up diversified investment portfolios is quite essential.
Tax planning is also crucial for optimizing investment returns. If not planned well, taxes can eat into your gains and significantly affect your portfolio growth.
That's true. Changes in tax policies, both domestically and internationally, can have significant implications for investors. It's crucial to work with financial advisors who understand these complexities and can help navigate them effectively.
As far as world leading industries goes:
The dutch build lithography machines used to manufacture basically everything that was used to create this video, as well as every device used to watch it.
As a German I can't disregard our optics going into these machines, but still quite world leading if you ask me^^
without german lences those thing wouldn't work, no denying that, but ASML is a very importanted company in the chip supply chain
Our partners in Zeiss ❤
most devices and computers even an Iphone has a majority of Japanese technology, besides that ASML will leave for France soon or any other country that offers them tax cuts, we are not making any money on them if you compare it to the damage they cause to the local people and universities
I guess the question becomes, "How niche of a field can one lead before it seems not very impressive?" There are even developing countries that lead in certain domains, but it doesn't change the fact that they are not fully developed. So, rather than asking if they lead anything, it really resolves to, "Do they lead anything that couldn't be replaced by someone else if they disappeared tomorrow?"
I once asked a Dutch guy why are weed allowed in Netherland
He replied 'so that we can be in the same level as other countries'
Diversity is their strength
What does that mean?
Very ambiguous.
Same level of relaxation?
Same level of intoxication?
Same level of drug use?
Same level of poor driving?
Same level of munchies?
Same level of non-essential spending?
Same level of what?
@@StylishCasuall basically; that we are high.
@@StylishCasuall It means they need to slow down their brains with weed so you dummies can catch up. How do you not get that joke?
Having an economy based of a reduced workload, meaning employees working part-time instead of full-time, yet still successfully maintaining the economy, is a similar principle seen with the cardiovascular system. Increasing the efficiency of the heart by doing less work to maintain adequate blood flow is a healthy adaptation of exercise training.
The Netherlands is a global leader in advanced lithography. Without which all the most advanced micro electronics in the world would not exist. ASML (Dutch) makes the machines that TMSC (Taiwan) uses to make the chips that go into our mobile phones, our computers, and increasingly other electronics in our smart homes.
ASML isnt Dutch, Multinationals swap identities whenever they feel like it if they get a better tax cut deal elsewhere. Dont be surprised if its a French company soon!
This video came just in time for my economics assessment for the Dutch economy. Convenient.
Closing the gas fields was done because it caused earthquakes not really because of the environment.
It is also quite overstated how important it was for the total economy.
The tax haven thing has mostly been fixed apart from royalties and such.
The part-time work culture is politically mostly seen as a bad thing, most parties want to make it more attractive to work full-time.
Perhaps a mention of ASML would also have been nice.
I dunno, I would all earthquakes an environmental effect. But then again, I might just be high of the fumes of the Rotterdamse haven
Good points. Very objective.
yeah the part time culture is very badly set up, at the same time the gov promoted working less hours it created an issue for people that do actually need the money but can now only work part time. If they take on a 2nd job to fill the meets they will get taxed double on the 2nd job. Which is ridiculous
The Dutch approach to shipping and finance would also help one of its former colonies become the economic capital of the world. New Amsterdam, now New York City, still has much of the Dutch economic esprit of its founders.
You should do a video on how much transportation efficiency contributes to the economy. I was in Texas recently and it felt like half the state was paved over with roads and parking lots. To get around we needed to spend $15-20 a pop on Uber (or hire a car if we’d been staying longer). Contrast that to a trip we made to the Netherlands. We hired bikes and took trams, and spent no more than double figures on transportation. Of course all those Uber rides look great in the GDP figures, but it’s a huge use of resources to achieve the same outcome. I would love to see your take on this topic, since I don’t have formal economic training, but I feel that the effect must be huge.
The Netherlands is a very small country. As such, the distance between major towns are very small, and that makes bicycling an actual viable option, especially with the flat terrain of most of the country.
just a little heads up that the West India Company was notorious for very different reasons than the East India Company - it was a thin facade for piracy, the actual arrr kind not some kind of metaphor
And slavery
About the part time work:
It’s actually a ongoing issue here in netherlands. There are too many subsidies for people under a certain income, so a lot of people will lose money if they work more hours (as they would lose the benefits, there are pretty hard cutoffs) That is why so many people just work less, because they would lose money working more. That is not a good thing
not only that but childcare is extremely expensive and it's literally cheaper to work less days and take care of kids yourself than working and paying for daycare
En ondertussen zit jij te klagen terwijl zij van hun vrije tijd genieten. Ga eens leven man 🤣
Nah. I just decided to work a day less so I can spend some time on my hobbies, or enjoy the weather. No financial incentive, just happy to enjoy a day off.
I think its a bit more complicated. Yes the average worker works relatively few hours per year in NL, but the labor market participation rate is very high (so more workers than in most countries per capita). Because parttime work is generally (socially) accepted for both men and women, people find it easier to combine paid work with child rearing, taking care of elderly or sick relatives ("mantelzorg"), taking care or yourself or having time consuming hobby. So more people are in some form of paid employment.
Not really? There essentially two major groups of part-timers. Married women and higher educated workers. The latter make way to much for the benefits to be relevant. These people just value their time more than their wage.
The metrics used to place nations on the leaderboard seem really suspect when the Netherlands fares worse than the aggregate EU...
Couldn’t that be attributed to the “some of its parts”-law.
Right? It got the same score as the Earth.
Agreed.
The gigantic port at Rotterdam is why the Dutch economy is booming--it is a huge trans-shipment point for goods and in and out of continental Europe. That's why there are huge investments in railroad facilities in the Rotterdam area, much of which were built by German companies.
Weird detour you did on the relative scale of the VOC in today’s terms. It is indeed very hard to measure the true value of it but I think most people can agree it must have been one of the most powerful companies to have ever existed.
It may have been the biggest in terms of what percentage of the global economy that one company represented, it was certainly a lot bigger than most countries at the time.
I understand why he did it! That meme about "The VOC is bigger than all of FAANG combined" is annoyingly widespread.
Let's look at the relative scale in 17th century terms. It had not more than 200 merchant ships at it's peak, while the European fleet of the Dutch merchants was in the tens of thousands.
Sounds like a pet peeve of his with how long he got stuck on that
@@102728 Some Canadian media company did some bogus calculation and now YT is full with it.
Lots of videomakers have so little knowlegde that make the things they think they know (but don't in this case) all important to the story.
Bit of a tax Haven was a massive understatement.
Yeah. IIRC EE called out Ireland for inflated wealth figures due to it's tax haven paper/corporate wealth which might as well not exist for the people. Why not The Netherlands?
No world leading industry of its own? ASML go brrrrrrr
Asml is not that big .
@@ovibiswas7849you must be joking. At this moment it’s ranked the #21 largest company of the world based on market capitalization with plenty of growth potential.
@@ovibiswas7849 Brother, Asml is one of the most important companies in the entire world. Without ASML, our technology would literally regress by a decade. Without ASML the largest companies could not exist in the manner they do today.
Like the iphone 12 would be the most advanced generation of phones with its android counterparts and such.
Ing Rabobank heinieken Unilever Campina KLM these companies are likely bigger then ASML and are also dutch.
@@HDrobveelben Bigger? Yes, more impactful/important? Resounding no
Coming from an academic economist here, I think you guys should include the gini coefficient in your ranking of countries. HDI might also work as substitute for gini and gdp per capita
I 100% agree with you in including gini coefficient. I disagree with what you said about HDI tho
I think the adjusted gross disposable income of households per capita in PPS would be a good indicator to show living standards. I wonder if you counted it with the part of the population that is not in social housing programs which is extraordinarily big in the Netherlands, what would it look like if now it is below Germany or Austria.
@@Danielf_c yeah I agree. In retrospect I think I just threw it in there to get away from gdp being the only yardstick we use. Thanks for the comment!
@@piecia66 great comment. I think they have to deal with ease of understanding for a TH-cam audience, so including a gini should (somewhat) account for this.
What is the gini? 👀
I'm an economy noob. I know about GDP and such, however I have never heard of gini.
A dutch industry that is extremely important and yet not very well known is that they are the ones to build the machines used to create semiconductors. All the best semiconductors built in Taiwan are made using those dutch machines, and therefore all the world is reliant on these dutch machines. It is a huge thing for them.
america controls who and how much of it they sell it to tho.
This is very well known
@@anlasma7942 they dont, usa just wants ASML not to sell their latest tech to china. ASML still sells older machines to china. stop spreading false information
@@w33zyNL since they started modfying said older machines to enhance their capabilities they will stop selling the older models too. And these bans will extend into Russia. You may argue that the Russian ban is common stance in EU not because of USA but no need to fool ourselves, If USA doesn't agree, no one else is getting anything.
@@w33zyNL Yeah and when the usa 'just wanted' a thing, ASML immediately complied, losing a market worth billions. That's a pretty clear indicator of who they answer to.
I feel like for growth and industry you forgot to factor in industry leaders like ASML (and to a smaller extent Philips).
ASML in itself is a large part of the economy, and is growing massively, recently announcing they want to double their workforce in a few years.
A former co-worker's parents moved to the US from The Netherlands before she was born. She related that while her parents were growing up in The Netherlands that at dinner when a question was asked in one language, then the person asked the question needed to respond in a different language. I think she said they rotated among Dutch, English, French, and German.
Dutchie here. Doing that at dinner isn't something I heard of, but languages are still quite prioritized in schools here. Dutch and English are mandatory until end of high school (aged 16-18). The first years of high shool also include German and French, one of which has to be done until graduation. Many schools offer extra languages as a sort of expansionary course. Spanish is most common, but I've also seen Russian, Arabic, Japanese and Chinese
Gee, I hope English is enough to get a decent job (plus knowing your job).
So many languages.
You should also make a video for each individual country in the UK, Scotland, England, Wales, NI. That would be intersting to watch
What’s NI?
@@theonlyopyNorthern Ireland
LoL. It's all the same
The world exists bud...lotta countries out there to get through
@@snake88ification Yeah... no. England isn't doing that great, but they have a massive helicopter of an economy in London; Scotland has got several natural resources, which the SNP are trying to leverage, but they're still quite poor; Wales... Wales is a mess; Northern Ireland has the advantage of the Customs Union, and the UK's mediocre backing, but their Government system is a mess.
Thanks!
The golden era of the Netherlands is over , high inflation, housing crisis, decrease birth rates , high taxation which lead many big companies to move their headquarters out of the Netherlands. One thing i noticed in Netherlands that people who work less or even non gets more benefits than full time hard workers and entrepreneurs. 😢
A better way to compare the size of the Dutch East India company to Apple would be to calculate their size as a percentage of global GDP at the time, rather than calculating the actual amount and adjusting for inflation.
This is a similar issue to the way you computed putting the Roman Empire on the leaderboard.
yeah but thats hard to do as it was an autonomous company, even the navy and army of the voc was the dutch them selves where very poor at the time it also was a kingdom and not a democracy back then
it's got ASML
ASML is more of an international company than it is Dutch
Look how the US was easily able to force ASML (a Dutch company) to not sell products to China out of the interest of US "security"
ASML is Dutch by name and location only
@@toyotagazwhy would that make ASML an international company? Our suzerain decides our foreign policy of course, but does that mean all companies in the world are either Chinese or American?
@@MartinDeHill no, it just means the US gets to dictate who ASML sells to based on how the US feels on a Tuesday afternoon
Bc at ASML, who cares abt Dutch interests?
@@toyotagaz the US gets to dictate who everyone sells to. That's why Cuba is poor
@@MartinDeHillAFAIK, EUV is an American patent (EUV LLC).
Great video, shows off much of what the Netherlands has achieved. I do find it remarkable that the food export is not mentioned. The US has the largest food exports in the world (140 billion dollars), whereas the Netherlands is second (100 billion dollars). This is quite a feat, since the Netherlands fits almost 240 times in the States.
Marten, you talk about food export.Allow me to make a correction. It concerns agricultural products including flowers by example. So not just food.
Hello Vincent, I stand corrected, it includes all agricultural goods, thank you for noticing!
As usual, another great video. Thanks, mate.
One reason I could think of why they are "so different" and can adept such a different economy is that they made landmasses themselves. Many, many countries have mountain-like terrain and just aren't as easy to farm on. Also, because the terrain is pretty much man-made it can be very fertile.
Unfortunately the Netherlands is experiencing one of the worst housing crises in the world right now, and combined with food prices skyrocketing, it's not all sunshine and rainbows for the average citizen.
They just like to complain. We also earn alot here, if you dont take a look in the mirror.
@@maickelvanee2540 No the available houses are not aligned with the average income. Dont play dumb
your videos are chaosly explained
Yes it’s just a bunch of information with no real flow.
Think it more ment to be entertaining instade of being a essay about the netherlands
chaosly
Your comment makes me chaotically think of synonyms for chaosly.
@@OdyTypeR Unmethodly
Love the random footage of Moscow at 6:58 lol
Hello everyone, thanks for the video. But it isn't complete. Yes, we stopped with natural gas in Groningen, but we are going on with natural gas in the Waddenzee and Noordzee. There are many more things to say. Look at other video's about the Dutch in the Netherlands. Have a great day. Arie the Dutchman.
Fascinating!
13:34 ALSM?
Don't know how you could be more world-leading than that. They are the only once capable of producing the mashines that produce the leading edge computer chips. Without them TSMC would not be what they are, and without that Nvidia, Apple, Intell, Google, ... none of the tech giants would be where they are...
srsly, that was an understatement.
Sure, they rely on other "'small' world leaders" as suppliers (like for example Zeiss for their optics)
What’s alsm?
How can you make a video about the Netherlands, and not once mention the Port of Rotterdam? 😂
So true😢
Issue is when you start naming, you can keep going. Schiphol as a big hub, ASML, Shell, Unilever….
@@Tosty_82Shell is no longer Dutch. It was founded in the UK and now has no administrative ties to the Netherlands anymore either.
On the industry score you mention that it loses points because of lack of global companies. ING, DAF, ASML, Philips, Heineken and Aegon would like to have a word.
Its becauae od the english node, which is an very valuable end node, even more with a tall netherlands
Great video, thanks for finally covering my second home!
Natural gas, being a in-EU tax haven and ASML - Apart from that they have great urban planning and social standards but they live mostly from siphening of hard-earned profits from European operations of major companies due to their tax incentives rather than building an own strong, diversified export economy - And they have the Port of Rotterdam as long as sea levels don't keep rising too much. Awesome urban planning, though
Best urban planning in the world not including city states
@@Homer-OJ-Simpson The "Best" is very definitive, but Dutch urban planning is excellent nontheless - However better than for example Copenhagen - I don't know. Still Northern Europe (as in the Northern part, not only Scandinavia) in general does an amazing job at that
Sea levels at Rotterdam are rising by 1.9 mm/year. Being a tax haven is not much good to the country, rather the product of the neoliberal ideology of recent governments. There is a lot of service industry that indeed needs goods production elsewhere but there is a strong, diversified export economy too. A lot is just not consumer end product but a lot of intermediate goods.
entire world runs on chips made from ASML equipment, not sure why you say " it doesn't have much in the way of its own global companies", that single company literally shakes geopolitics.
Good point. It depends on your benchmark. Compared to the US, DE, ES, FR, IT, JP, KOR it doesn't have much. Compared to most of the world it does Allright.
KOR?! A country whose GDP is 25% just Samsung 😂
And mentioning South Korea, Spain and Italy but not the UK is just laughable.
They also got billions of gilders from Indonesia after giving them independence. The amount was as large as Marshall plan.
Industry should really be a 9/10. They have giants like ASML which manufacturers the most important part of chip manufacturing machines
No they dont. Tsmc asml these companies just manufacturer nothing else. Main big players are other companies. These companies just do it for cheap .
@@ovibiswas7849 ASML engineers some of the most complex pieces of machinery in the world. Sure that machinery is used for manufacturing, but that doesn't mean ASML just does manufacturing
@@ovibiswas7849 🤣🤣🤣🤣🤣🤣
@@ovibiswas7849you do realize that almost all multinationals actually manufacture stuff. At least when it isnt data driven.
It's consistent with his other videos.
EE almost never gives smaller countries more than 8/10 in industry, simply because they are outmatched by larger countries with several times the number of world-leading companies.
Where can I see the full leaderboard?
If he cared, he'd put it in the video description, but you have to go watch his second channel or smth.
The big natural gas bubble found in the Groningen province in the 1950s has mostly contributed to this. Most of its modern day infrastructure (railwaye, highways and waterworks) and social/welfare programs for its population were financed by this.
Even kijken waarom we zo geweldig zijn..
You're the only dude youtube I have to run 0.75x instead of 2x to keep up while doing daily chores
You can see there aren't many Dutch in the comments section and that is probably because they are out living and enjoying life. Where people like me in the UK are just miserable and depressed and are looking at examples of how a country should be run. It would be so nice one day to actually experience a place in the world that has optimisim and a future, rather than a depressing every man for himself mentality here in the UK.
Come back to the EU
Interestingly, the Netherlands is one of the most remarkable escape room communities in the world.
There are dozens of world class games doing mind blowing things.
Intresting videos you have to watch :)!
13:36 how about ASML. TSMC and thus the entire world is reliant on this single company to give them lithography machines for the production of the most advanced semiconductor wafers.
Interesting overview.
Should human development index be taken into account when looking at economies rankings? As mentioned it is important to see if the strength of an economy is actually translating to helping its people efficiently. That is the purpose of an economy at the end of the day and not including some measure of that is telling.
No those charts are incredibly subjective and this is at least supposed to be an economics channel.
@@adamheuer8502 lol dude he has used those figures and categories before 😂
@@Dafins100 Huh didn’t know that. They still aren’t very good for looking at economics
Hello from aruba🇦🇼
Ktk
In one word - port.
Dutch guy here, we work a lot part time, yes, but that's because we need both men and woman to work to be able to affort life. I work parttime and my wife too. We both use our day off the look after our son because sending him to day care everyday would literally bankrupt us.
In two words: tax haven.
Another - Hinterland
@@joaomramalho1it's more of an enabler, the Dutch sandwich for instance.
You want to talk about tax havens have a word with the UK, they've got more than a couple in the top 10.
Semiconductor, no religion, immigrant bullshit
Please do a breakdown of how the Petro-dollar agreement worked & it's effect on the global economy. Also give us your thoughts on how things might look going forward.
The Dutch also benefit from having better cycling infrastructure than other developed countries 🚴♂️
** LOVE this. Cheers and thanks EE.
Someone who speaks two languages is bilingual.
Three languages is trilingual.
Four languages is Dutch.
One language is American.
Brits are notoriously monolingual as well. When you speak the world's lingua franca, there's less incentive to learn other languages.
The Dutch are good at education. But the world would be better off with one universal international language, so that nobody has to learn 3+ foreign languages, except linguists.
Which four languages? Dutch, English and??? Turks en Marokkaans?
@@bpunk9 Dutch, English, German and French are the ones we learn in school so there's your answer.
@@noneofyourbusiness4830 Ah! You mean Esperanto: en.wikipedia.org/wiki/Esperanto
5:39 Beauiful rant. Now explain Mansa Musa in the same fashion
Would love to see a video by you guys on Austria! 🇦🇹 Equally wealthy as the Netherlands but all that without having natural resources...
Nor being a tax haven!
4:34 Comparing inflation-adjusted valuation of the VOC (which at best would be guesswork) to the GDP *at that time* looks like a mistake? What was the valuation in Dutch guilders? How did that compare to the GDP of the world at the time?
world GDP is honestly impossible to guestimate during that era, not only because of the different currencies but because 'standards' such as gold and silver had vastly different prices depending on the region
@@CarthagoMike You would have to do an exchange rate/ cost of living correction anyway.
The reason for part time working is also partly due to some of the highest daycare costs in Europe. For many people it's simply not affordable and hence mainly women work part time. It's very backwards.
Has any country cracked the code on making child care more efficient, allowing care providers to earn decent wages and keeping it affordable without subsidies?
It litterly is almost free in nl. In the next years it will be made completly free.
@@scottvonasek3706it is highly subsidized it is basically free and within 2/3 years planned to be 100% free
@@scottvonasek3706 I don't know about subsidies, but in Denmark you pay 1/4 of the daycare costs, while paying the same income tax (I've worked in both places)
@@berendbouwmeester705 This is very incorrect, I refer to the middle class being totally ripped off. It might be very cheap for unemployed people, but that is no meaningful comparison.
To everyone saying the Dutch aren't rich, just try living on a part-time salary anywhere else in the world. What the video doesn't stress enough (imo) is the stability factor. I come from an Eastern European country that has quickly Westernised and yes, the growth might be higher but the stability is lower - so when the economy goes down it really goes down. The Dutch got 5-7% inflation last round? The Baltics got double that plus higher unemployment.
You should cover Denmark at some point!
I love being Dutch, happy I'm born here.
It is a bit rough now, with the titanic housing crisis, nitrogen crisis, power(net) crisis, aging & staff shortage, drought AND floods, social problems, populist politics, grinding bureaucracy etc etc.
Wdym staff shortage, that isnt a bad thing for your average joe.
Would really enjoy it if you did Austria (My home Country) sometimes in the Future 😉😊
No way Australia has the same HDI as Netherlands.
Why?
Australia has some of the highest life span. It's education great too.
@ElectrostatiCrow It's just personal perception. 🤷♂️
@@judeffr They aren't the only one though.
Indian first gen migrants in Australia own standalone houses in Sydney suburbs. Native Dutchman with tertiary degree well in his 40s live in shared flat in Amsterdam or commute from his studi apartment in Almere. That is why.
Remember efford/ reward curve?
Shell,ASML,Philips,Unilever,KPMG,Heineken,Netherland so great!
Do you plan to make a Georgism video?
I will be interested in seeing your analysis of the economy of Botswana.
About international companies having headquarters in Netherlands - until very recently even Yandex - by far the biggest russian tech company - was officially registered in the Netherlands
Yandex still here i think: nl.wikipedia.org/wiki/Yandex
@@JSK010 No, they were forced to split last year. Maybe head company still exists as an entity, but by now it has no official ties with russian Yandex. It is also stated in the end of 'history' section in your wiki link
You undermine your credibility by using AI images without attributing them as such. The six-wheeled cart at 6:01 for example. Wouldn't it just be better to use relevant historic photographs or paintings with attribution?
Dutch person here cost of living is insane nowadays. No one except boomers or rich can buy any properties and rent is insanely high. Its a complete broken system country wide
I think the almost paradoxical nature of normalizing part-time work, which somehow actually increases productivity because it makes it more approachable to more people is something a lot of other countries (looking at you, USA) could learn from. When I hear other people talk about their work conditions, like taking vacation days being a social taboo, I'd also be depressed.
Harbour for germany/europe.
Very true and good but a small editing is needed on the info
The reason we have so many part-time workers is not entirely correct imo. The government gives out loads of grants to low income earners that don't pay to much taxes. When someone starts to work more they lose the grants and pay more taxes. This means the average worker has to work exponentially harder to see any improvement in life. So, to still benefit from grants and lower taxes while still seeing improvement in life quality, people just work less.
Classic welfare trap.
You basically have to win the lottery to change class in the Netherlands, the system punish anyone that want to improve their standing in society.
4:29 is a weird comparison. In value, bulk standard freight on modern ships can't be compared to newly gained bulk luxury resources from new worlds...
What about ASML? I think that this company is as worldleading as it gets.
You missed the Singapore Zoo, Night Safari, Bird Paradise and River Safari. Clark Quay boat ride is better than the one you took.
The netherlands has significantly less car dependence which is a huge efficiency.
I would love for you to review my country Ghana, another great video.
aye, deff a interesting economy to review
They basically invented rampant capitalism with all its benefits and flaws
And the exploitation of small country to the very end, until there's nothing left. We have the Republic of Naru as a big example of that, the country is not even guaranteed to see the 22nd Century.
How do you do an analysis of the dutch economy including history and not even mention the Tulip craze in the 17th century which is arguably the first meme coin of sorts‽ They even have a museum about this!
Didn't the Netherlands stop drilling natural gas because their country was falling into the sea?
No, we stopped drilling for natural gas because our entire country is highly developed, so having local earthquakes is devastating for the thousands of people living there. Compare it to places like Russia or Dakota in America or Canada massive resource extraction is far away from population centers.
No, the drillings cause earthquakes resulting in huge damages to infrastructure and housing in the region. Revenue from the drilling could easily cover the damages but in a lot of cases entire neighborhoods need to be rebuilt which is deemed unfair by local residents, not to mention the fact that you can’t just bulldoze the dozens of monuments and reinforcing those is often near impossible.
LOL no, mainly because of property damage.
It would be good to dive deeper, a lot of Dutch people are also hurting economically and socially we can hardly get a house.
The people want a Javier Milei video
What annoys me as a Dutch person is that the 'Dutch disease' is considered to mean a 'overdependence on natural resources' when it was a hit on exports due to the rise in value of the national currency following the discovery of natural resources making exports, in the short term, less competative.
The Netherlands is and was a global export champion. Being the 6th largest exporter by value in 2023 after China,USA,Germany,UK,and France. Beating the likes of Japan and South Korea.
Man really had to defend his American companies compared to a 400 year old company
Hey man, having an argument on whether this math is accurate. Any chance you could do a video on it?
If there is this much money in shipping why aren't more ships being built?
Real Answer: Colonization
No? They were one of the richest people before they started colonizing
Haha you're brown. Sad!
@@kevindejong01they cemented their wealth with brutal and dehumanizing colonization. Cope harder
me when i lie and am also brown