Productivity and Growth: Crash Course Economics #6

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  • เผยแพร่เมื่อ 18 มิ.ย. 2024
  • Why are some countries rich? Why are some countries poor? In the end it comes down to Productivity. This week on Crash Course Econ, Adriene and Jacob investigate just why some economies are more productive than others, and what happens when an economy is mor productive. We'll look at how things like per capita GDP translate to the lifestyle of normal people. And, there's a mystery.
    Crash Course is on Patreon! You can support us directly by signing up at / crashcourse
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ความคิดเห็น • 1.1K

  • @agentrikamcgee
    @agentrikamcgee 8 ปีที่แล้ว +724

    I don't know why people are complaining about the series. It's way better than my economics classes in college...

    • @rtrachelteng
      @rtrachelteng 4 ปีที่แล้ว +20

      agentrikamcgee very true! Got an A cause of this series

  • @CicatrizAP
    @CicatrizAP 5 ปีที่แล้ว +820

    “Money cant buy happiness, but it can prevent a lot of misery”

    • @crazyandstupitme
      @crazyandstupitme 4 ปีที่แล้ว +16

      ​@Isfet Shadow because it can prevent lots of misery, and because happiness is relative

  • @athar2222
    @athar2222 7 ปีที่แล้ว +1327

    Summary for you guys:
    1. Why some countries have high GDP and others have low( some countries are rich and other poor):
    a. Lack of natural resources.
    b. Corrupt governments.
    2. GDP per capita(output per person) is used to tell how wealthy a country is.
    3. Countries with high GDP/capita have far less infant mortality, poverty and preventable diseases.
    4. Productivity and growth:
    a. The more a worker produces, the more a worker can earn.
    b. Economists argue that the main reason that some countries are rich is because of productiivty.
    c. Higher value produce also the growth effect.
    d. Productivity is key, but there are limits.
    5. People in poor countries need food, water, plumbing, hospitals and medicine, and all of those things are needed to get better efficiency.
    6. How much stuff is produced per person(can be called GDP)
    7. Factors of production effect the efficiency:
    a. Land
    b. Workers
    c. Capital( and also workers education, knowledge aka human capital)
    d. Technology: The sum total of knowledge and information that society has acquired concerning the use of resources to produce goods and services. (Connectivity= productivity).
    Increasing Productivity has resulted in increasing standards of living(globally and historically).

    • @fatimakhan7108
      @fatimakhan7108 7 ปีที่แล้ว +7

      Thank You.. :)

    • @Rohan.S.Patne.
      @Rohan.S.Patne. 7 ปีที่แล้ว +61

      Thanks! More people like you need to exist in the comments section

    • @themeowycat
      @themeowycat 7 ปีที่แล้ว +23

      I think it should be: 6. How much can be produced by a person is GDP per capita
      apart from that, good job for the summary

    • @Polarwhisper6
      @Polarwhisper6 7 ปีที่แล้ว +17

      They are so disorganized with how they structure the lesson gezuus!! THANK YOU!

    • @emericswitchyoureawesomean3658
      @emericswitchyoureawesomean3658 6 ปีที่แล้ว +4

      Athar Kamal you living textbook.

  • @eight-double-three
    @eight-double-three 8 ปีที่แล้ว +396

    Don't get me wrong, but there are historical factors too, colonialism, and such. It's quite hard to be rich, if it's someone else running your economy. And many of those countries have quite frequent conflicts nowadays, which also hinders growth. (Like if there is a civil war every few years, it's rather hard to have a healthy economy going)

    • @thekaxmax
      @thekaxmax 4 ปีที่แล้ว +53

      That goes outside economics to colonialism and politics. But it should have been bought up, yes.

  • @taylorsharp2196
    @taylorsharp2196 8 ปีที่แล้ว +341

    One minor criticism: I don't think we can call South Korea 'developing' anymore. They arrived at 'developed' sometime in the mid-2000s.

    • @Kanchoba
      @Kanchoba 8 ปีที่แล้ว +15

      +taylor sharp
      No, mid 90s - early 200s.
      en.wikipedia.org/wiki/Developed_country#World_Bank_high-income_economies

    • @lhpoetry
      @lhpoetry 4 ปีที่แล้ว +30

      Yeah, umm...actually, developing is a pretty problematic term in generally...

    • @a.d.hanifa6202
      @a.d.hanifa6202 4 ปีที่แล้ว +9

      hail kpop

  • @gonzesse1437
    @gonzesse1437 8 ปีที่แล้ว +113

    I think i will donate to crash course, 100 billion dollars
    (Zimbabwean)

  • @borodino4466
    @borodino4466 8 ปีที่แล้ว +369

    Crash Course should create a link to a website with a worksheet to help reinforce the information we just learned.

    • @ConorJTobin
      @ConorJTobin 6 ปีที่แล้ว +25

      Just like Khan Academy! :-)

    • @chrismain7472
      @chrismain7472 4 ปีที่แล้ว +72

      Ryan Brown, you could do it and then offer the link to crash course either for free or for a small fee to compensate your time. Boom! Economics

    • @achyutkayastha4248
      @achyutkayastha4248 4 ปีที่แล้ว +3

      Noting down would be better for learning.

  • @amirmerican4288
    @amirmerican4288 8 ปีที่แล้ว +1997

    You know you're a nerd when you binge-watch crash course

    • @franciscocorralesmorales7608
      @franciscocorralesmorales7608 8 ปีที่แล้ว +38

      and I have done it for all of their courses .....

    • @wishmaker7863
      @wishmaker7863 8 ปีที่แล้ว +31

      I'm in the process of binging this series, and I already really want lemonade after seeing the intro several times in a row.

    • @borodino4466
      @borodino4466 8 ปีที่แล้ว +2

      Tru ^^ Retweet

    • @joshuarieder2865
      @joshuarieder2865 8 ปีที่แล้ว +1

      Me in a nutshell...

    • @wishmaker7863
      @wishmaker7863 8 ปีที่แล้ว

      Joshua Rieder crash course Joshua Rieder?

  • @JohnnyD200
    @JohnnyD200 5 ปีที่แล้ว +101

    85% of the comments: tone down on the humor it's not a kids show
    10%: Zimbabwe is poor because of the US and Nestle
    5%: summary notes

  • @luamarteterra
    @luamarteterra 7 ปีที่แล้ว +106

    Well, it has to do a lot with the historical context of each country, also. I mean, most of India´s natural resources were took away by the UK for a long time, as an example. It´s important to have in mind that there are countries that need others to keep poor...
    Also, GDP per capita is the same illusion as GDS: a rich country does not mean people are richer. It is much more important to look at the money equality rates.

  • @marcc5560
    @marcc5560 8 ปีที่แล้ว +184

    More substantively than the typo, I worry that in the quest for simple, understandable abstract models, the economists here have missed some important historical reasons for differences in wealth and productivity. Many increases in productivity have come at the cost of human misery. Much of the capital that propelled increases in GDP among many of the richer countries historically came from colonized or otherwise exploited countries, for example. The cotton boom of the early nineteenth century, which enriched the U.S. as a country, came in large part from harrowing increases in the productivity of enslaved persons. In that case, the incredible rise in GDP had a sharply negative effect on many of the residents of the United States.
    Are there stakes to this? Yes! A monomaniacal focus on productivity can lead to a trampling of the lives of the disadvantaged. If the state (pick a state) seized all of the antiquated small farms in its border, and successfully turned them into modern factory farms geared towards export, the GDP of that state would skyrocket, but the farmers (if unassisted) would be devastated. The Soviet Union massively increased its GDP and GDP per capita in the 1930s, but no one would want to live there. Part of that increase, in fact, was the poorest of the poor starving to death, another thing that boosts GDP numbers.
    I know you folks said you'd speak to income inequality in a future episode, and I'm glad you mentioned it. But I notice, in this episode and your episode on GDP, that you tend to bracket the exceptions and then treat them like they don't exist. Here, at least, that borders on negligence.
    [I certainly recognize that both the cotton boom and the Soviet "miracle" of the 1930s were deeply predicated on new mechanical technologies., But they were also predicated on vicious reorganizations of the labor force. See Sven Beckert's Empire of Cotton and Ronald Suny's The Soviet Experiment, respectively].

    • @thekaxmax
      @thekaxmax 4 ปีที่แล้ว +10

      That goes outside economics to colonialism and politics. But it should have been bought up, yes.

  • @ssam00
    @ssam00 6 ปีที่แล้ว +79

    Wow. You guys missed the most important points: industrial revolution, colonization and globalization. Industrial revolution lead to the boost in production that helped begin the growth of Western economies, many of these countries had colonies, which ensured availability of raw material, cheap labour and manipulable markets for the produced goods. Finally globalization ensured that the status quo of the developed vs developing countries is maintained via outsourcing labour to the latter

  • @EugeneKhutoryansky
    @EugeneKhutoryansky 8 ปีที่แล้ว +34

    GDP is a measure of how quickly we are depleting our natural resources and transforming them into landfills.

    • @SchiferlED
      @SchiferlED 8 ปีที่แล้ว +1

      +Eugene Khutoryansky It's also a measure of how much producers can get away with overpricing their goods and still selling them to people.

    • @Khordin
      @Khordin 8 ปีที่แล้ว

      +Allan Patterson Not when everyone uses the same price models for similar products.

    • @SchiferlED
      @SchiferlED 8 ปีที่แล้ว +2

      Allan Patterson Unless every business knows they can get away with the higher prices, which they do. Perfect competition does not exist.
      The entire point of supply/demand analysis is to figure out exactly how much you should overprice your goods to get the most profit.

    • @paulpeterson4216
      @paulpeterson4216 8 ปีที่แล้ว +6

      +Allan Patterson, SchiferlED, Sorry Allen, just try to go into business against Colgate/Palmolive and Proctor & Gamble making toothpaste. The government will not stop you, I promise. But if you try to undercut the duopoly on price, they'll just cut the price on their toothpaste in your area to below your cost to produce and drive you out of business. They know full well that they can outlast you, and then go back to charging whatever the market will bear. If they are to be prevented from doing this, it will ONLY be because of government regulation. The fact is, this magical, mythical, 'free' market that so many people seem to believe in is a hoax.

    • @SchiferlED
      @SchiferlED 8 ปีที่แล้ว +3

      Allan Patterson It works but has a fundamental flaw, and that flaw is profit. When a single person (or small set of executives) keep all of the profit instead paying better wages or lowing prices (either of which would cause more societal prosperity), wealth tends to concentrate over time. Please do some research on modern wealth inequality and you will understand just how bad the problem really is. It will only get worse over time.
      This is the reason that poverty exists in a country that produces more than twice the amount needed to comfortably feed, shelter, and cloth all of its citizens. It's also why the free market doesn't work at all without significant regulation (see CrashCourse's earlier video about this).

  • @Duke_of_Lorraine
    @Duke_of_Lorraine 8 ปีที่แล้ว +454

    How many zimbabwean dollars for that ACDC belt ?

    • @mergenocide
      @mergenocide 8 ปีที่แล้ว +39

      +scarfacemperor On sale for 12.6 Trillion

    • @Lovemaxman1234
      @Lovemaxman1234 8 ปีที่แล้ว +27

      +Prime Paladin No wait now it is 12.6 quintillion.

    • @Duke_of_Lorraine
      @Duke_of_Lorraine 8 ปีที่แล้ว +8

      Are you using the Short Count (billion = 10^9, trillion = 10^12) or the Long Count (billion = 10^12, trillion = 10^18) ?

    • @Kaalyn_HOW
      @Kaalyn_HOW 8 ปีที่แล้ว +4

      +scarfacemperor I was going to just type "pfft. what do YOU do for money honey" as a now to the acdc song.... and just before I hit send I realized that, without context (on very young YT), that could've erupted into quite the classist/sexist slew of attacks my way. Eh. I still appreciated the thought ;)

    • @ecovillagecostarica8673
      @ecovillagecostarica8673 8 ปีที่แล้ว +1

      Have you ever visit to an Eco village? Have you ever
      thought of moving and living in an Eco village? If so,then please email
      me ecovillage2k15@gmail.com.Eco village Living has a great possibility to foster a change, and has significant meaning for a community to grow into a harmonious
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      you and for your family.

  • @arielibatabidie2889
    @arielibatabidie2889 5 ปีที่แล้ว +68

    If some countries are poor and others rich, it is not just productivity that is key. I also think that rich countries' policies of exploiting and keeping poor countries in some dependence are also an explanation for this difference between rich and poor countries.

  • @DanThePropMan
    @DanThePropMan 8 ปีที่แล้ว +42

    Can't tell if Adriene is really short...or Jacob is really tall...
    (Seriously, though, I'm loving the series so far. You're both great hosts!)

  • @HydroggenWilliams
    @HydroggenWilliams 8 ปีที่แล้ว +359

    Yes everyone I'm sure they're condescending because they want 10 year olds to watch the show. No, they're condescending to make sure you understand the basics so you can understand the more complex things. If you don't like simplicity and effective teaching then go read some boring guide to economics. No one is forcing you to watch

    • @feynstein1004
      @feynstein1004 7 ปีที่แล้ว +41

      I hate those people. They're very *unproductive* and hence a burden on the economy.

    • @chideraesinaulo4095
      @chideraesinaulo4095 6 ปีที่แล้ว +2

      Hydroggen Williams Man you make sense

    • @emericswitchyoureawesomean3658
      @emericswitchyoureawesomean3658 6 ปีที่แล้ว +7

      Reactive Xenon seriously, stop saying your age. You can make a stand and hold your ground without stating your age. When you say your age, people over look everything you say.

    • @JakubWojciechowski933
      @JakubWojciechowski933 4 ปีที่แล้ว +2

      I love how you assumed this technique is effective as a starting point of your argument. Now nobody can't prove you wrong, until he changes what you have already settled down as granted. That's a really good manipulation!
      Btw, if something is condecending, is it really effective? Just because some other unspecified book is boring doesn't automatically makes this video good. This is not how things works

    • @kasstro8544
      @kasstro8544 4 ปีที่แล้ว

      Feynstein 100 W

  • @sirturnables
    @sirturnables 5 ปีที่แล้ว +69

    They mentioned my country! GHANA.
    Am so happy! I did not know that we were known that much!!!

    • @vilemmar
      @vilemmar 4 ปีที่แล้ว +2

      no worries, you arent :) no offence, im from an unknown country as well.

    • @jaideepsingh4395
      @jaideepsingh4395 4 ปีที่แล้ว

      @@vilemmar do you bother to tell which one?

    • @vilemmar
      @vilemmar 4 ปีที่แล้ว +1

      @@jaideepsingh4395 The Czech republic, mate.

    • @sirturnables
      @sirturnables 4 ปีที่แล้ว +10

      @@vilemmar We beat you in 2006 FIFA World Cup!!

    • @vilemmar
      @vilemmar 4 ปีที่แล้ว +11

      @@sirturnables Dang. Okay :D Football isnt my cup of tea. We beat you at GDP per capita!

  • @Fetrovsky
    @Fetrovsky 8 ปีที่แล้ว +107

    Look! A clue! Domination and exploitation!

    • @Fetrovsky
      @Fetrovsky 8 ปีที่แล้ว +15

      Agree. And you can have an edge with hard work and productivity, without having to screw over anybody else... but world history has shown the answer is usually a combination of the two.

  • @PhilipMurray251
    @PhilipMurray251 ปีที่แล้ว +9

    your ability to break down economics for the average Joe and Jane to understand is top notch. You really need to create a course on trading stocks for the retail investors. Thanks for all this great content and information. Lastly get those likes up folks and share this video

  • @KevinLambertperfected
    @KevinLambertperfected 8 ปีที่แล้ว +9

    You two have become SIGNIFICANTLY better as the series has progressed. At first you seemed uncomfortable in front of the camera, but now you seem more natural. Really enjoying this and Astronomy this season.

  • @doorrraaaa
    @doorrraaaa 8 ปีที่แล้ว +68

    Maybe, in the way they put in this episode seemed like developing countries are poor only becouse their governaments were incopetent and corrupt. All history that lead to that dosen't count? All the others steps in the capitalism had some role in that, hadn't it? Like the mercantilism capitalism until now a finantial globalized capitalism.
    Its harder to the developing countries to try now to get industrialized and catch up with the ones that already have a stablished industry base.
    Sorry about the bed english. I hope i could explain what i was thinking.

    • @eustatic3832
      @eustatic3832 8 ปีที่แล้ว +8

      +Dora de Lemos Thanks for your comment. I totally agree, this series is ignoring history, which makes it harder to teach history, sociology, and other subjects. It could be so much better if it explained economics with history; i think they are following the USA AP test, which has lots of terrible assumptions.

    • @wiggumesquilax9480
      @wiggumesquilax9480 8 ปีที่แล้ว +2

      +Dora de Lemos Exactly this. So much of a country's current prosperity is defined by our predecessors willingness and ability to make the leap towards industrialization. A situation compounded up or down by early adoption of computer technology.The future of economic growth will be heavily dictated by a country's resilience to climate change, man-made or otherwise; and their ability to transition away from dwindling fossil fuel supplies. Get onboard or get left behind, assuming of course that your nation's not already been left behind.

  • @rachelbeskau3906
    @rachelbeskau3906 8 ปีที่แล้ว +1

    Adriane and Jacob aren't your econ professors and this isn't a university course. It's called "Crash Course" for a reason, it's a light hearted TH-cam series intended to appeal to a large audience who simply want to know more about the subject. It's great and all that everyone is so keen on giving writing tips, however, you're completely missing the point of the show. If this show isn't in depth enough for you, then go literally anywhere else. As an economics student myself, I think it's a great show and does an awesome job in connecting big ideas in economics. Keep up the good work Crash Course.

  • @N4K3DN1NJ4
    @N4K3DN1NJ4 8 ปีที่แล้ว +8

    Shout out to Mr. Clifford's AC/DC belt. Even us Econ educators know how to rock out!

  • @grierdunn1451
    @grierdunn1451 4 ปีที่แล้ว +8

    I have to watch this for school (online school) gosh darn Coronavirus

  • @Golgiaparatus2
    @Golgiaparatus2 8 ปีที่แล้ว +178

    Why is it "socially unacceptable" to wear the same clothes in more than one episode? I honestly can't remember what I wore yesterday, and I don't have the time nor the inclination to care about or remember what you wear in each episode. Just wear what you want.

    • @vidopoulos
      @vidopoulos 8 ปีที่แล้ว +29

      +Golgiapparatus2 Because, there is a set of rules women have set on themselves. :)

    • @yomamasofat413
      @yomamasofat413 8 ปีที่แล้ว +11

      +Golgiapparatus2 wow is this what you got from the entire video? lol

    • @Golgiaparatus2
      @Golgiaparatus2 8 ปีที่แล้ว +24

      Max Tan It was the only thing worth commenting on. Everything else made perfect sense.

    • @Dycehart
      @Dycehart 8 ปีที่แล้ว +15

      +Golgiapparatus2 Often women in the media are criticized for their choice of clothing, it's a weird standard that profile figures not be caught in the same outfit. Though obviously since this is an educational piece her clothing probably won't be as a scrutinized as much as say, an actor or a musician.
      Besides that, she was just using it as an example for the sake of the video.

    • @vidopoulos
      @vidopoulos 8 ปีที่แล้ว +8

      JessietheLookout
      Yes. By other women. It's a whole propaganda machine to sell clothes to women!

  • @arashghanbari5907
    @arashghanbari5907 6 ปีที่แล้ว

    You have no idea how many videos I watched on this topic. So called experts over complicating it. These guys really killled it. I learned it right away. On the spot. Love their teaching style. Simple.

  • @Drivabletree
    @Drivabletree 8 ปีที่แล้ว +9

    thank you to the patreon donators that allowed me to watch this

  • @abdullahamir52
    @abdullahamir52 8 ปีที่แล้ว +12

    Great explanation, Adriene and Jacob!
    Thanks from Bangladesh!

  • @superpcstation
    @superpcstation 8 ปีที่แล้ว +47

    Can we have a little less negativity in the comments? I like the hosts and the show I think they are doing a great job.

  • @heather2773
    @heather2773 8 ปีที่แล้ว +1

    Just discovered this series and watched all of them today!! Please make more videos soon!!

  • @kappyfulliness
    @kappyfulliness 8 ปีที่แล้ว +1

    Love this! I regret not taking economics at university and this series has done such a great job

  • @TheLordSod
    @TheLordSod 8 ปีที่แล้ว +9

    *"Please pay, so you can watch for free"* - Love it.

  • @FieldMarshalFry
    @FieldMarshalFry 8 ปีที่แล้ว +4

    I understand now... this entire series has been one giant subliminal advert to drive up demand for AC/DC belt buckles... well its damn well worked, I WANT ONE!

  • @justforfunsies6461
    @justforfunsies6461 8 ปีที่แล้ว +1

    Am pleasantly surprised to see Singapore being featured here! As a Singaporean, I've heard wayyy too many times that Singapore is a part of China when I talk to people overseas. And it is true that Singaporeans are generally not very satisfied with our living conditions despite our wealth (i.e lack of beggars and homeless people, great infrastructure, impressive education system). We're just too sheltered to be able to empathise with the less fortunate and hence be grateful with whatever we have

  • @GustavoSilva-ny8jc
    @GustavoSilva-ny8jc ปีที่แล้ว

    That was mind blowing, one of the most essencial, versatile and life changing information i've ever had! Thank you, it goes beyong the Econ world and change how you think about your actions, goals and life.
    It makes me feel blessed by productivity for having a phone that allows me to get conscious about my surroundings, even as a country bumpkin.

  • @GelidGanef
    @GelidGanef 8 ปีที่แล้ว +18

    "We wouldn't judge you for re-wearing clothes. But we do judge you for making a comment about it, and we judge both of you for lots of other equally inane things"
    --half the comments

  • @Rififi50
    @Rififi50 8 ปีที่แล้ว +16

    No need for a new blouse for every episode, but yes Mr. Clifford, there *is* a need for you to wear every other episode a different AC/DC belt.

  • @AB-ux5pp
    @AB-ux5pp 7 ปีที่แล้ว

    I just love you guys. You people have made economics so easy and fun. Thanks

  • @MrDiscreet100
    @MrDiscreet100 8 ปีที่แล้ว +3

    This is my favorite series, I'm committed to the end.

  • @colonelgraff9198
    @colonelgraff9198 8 ปีที่แล้ว +37

    Takes money to make money...

    • @gonzesse1437
      @gonzesse1437 8 ปีที่แล้ว

      Amen brother

    • @BagoGarde
      @BagoGarde 8 ปีที่แล้ว

      +Colonel Graff you mean finance?

    • @mad_max21
      @mad_max21 8 ปีที่แล้ว

      +Bago Garde He means Western colonialism took wealth from their colonies to gain the capital to fund the start of their industrialism.

    • @havocidal
      @havocidal 8 ปีที่แล้ว

      Singapore's the exception!

    • @gonzesse1437
      @gonzesse1437 8 ปีที่แล้ว +2

      Clarence Lam Umm...No

  • @mirandansa
    @mirandansa 8 ปีที่แล้ว +15

    When they say "economists", they are referring mostly to the mainstream ones (notably the neoclassical economists) whose research is financially supported by those who benefit from the propagation of a specific theory of value (notably Marginalism) and suppression of others. Many economic professors at universities and on media have been corrupted by the big money of big Capitalists, so that the students/audience are less exposed to the alternative theories that challenge the fundamental principles of Capitalism:
    www.theguardian.com/education/2012/may/21/heist-century-university-corruption
    3:06
    No mention of the portion for the employer's income? From the profit which the workers produced but the employer appropriates and distributes, by default, a certain amount (say 20$/hr) goes to the workers and another amount to other production costs ONLY IF there is enough left for the employer to take as his income. That extra value which the workers produce, is not included in the workers' pays. That is, the labor for which each worker receives 20 $/hr, is actually worth more than 20 $/hr. Paying the workers a wage which is LESS than the actual value of their labor that produces the surplus, is how the employers make their incomes.

    • @darren3687
      @darren3687 4 ปีที่แล้ว +2

      Thank you so much for this comment.

  • @chengsisle5589
    @chengsisle5589 8 ปีที่แล้ว

    Awsome show! It makes much easier and clearer to understand Macroeconomic

  • @kaylasmithize
    @kaylasmithize 8 ปีที่แล้ว

    y'all are doing great I feel like teens will understand this. you have to think about it it doesn't matter how they teach it or what kind of silly jokes that make as long as you learn the lesson that's all that matters. we look at different type of request courses at school and they helped us a lot so please continue to make them how they are now.

  • @austinfranke892
    @austinfranke892 8 ปีที่แล้ว +3

    Besides a reference to Robert Mugabe, the episode seems to have overlooked the importance of property rights, contracts and political & financial institutions in productivity and wealth creation. If people don't have the proper incentives and protections it's hard to generate high GDP. Take a look at the book 'Why Nations Fail' by Daron Acemoglu and James Robinson.

  • @0mfug1
    @0mfug1 4 ปีที่แล้ว +8

    This is all good and well but fails to mention or consider the effects of colonization, wealth + resource extraction, and historic + predatory trade agreements that advantage certain countries over others. This is a significant contributor to ongoing political and economic instability in many regions.

  • @zhubajie6940
    @zhubajie6940 8 ปีที่แล้ว +2

    Economist, Ravi Batra in Greenspan's Fraud, maintains the major driver of economic bubbles is first line workers real wages do not change directly with productivity gains (in either positive or negative sense). Interesting arguments for this are largely in Chapter 6 but the whole book is a good read.

  • @00jdn
    @00jdn 8 ปีที่แล้ว +1

    I love Thought Café's graphics! Thought bubbles are always my favorite.

  • @SusanWojcucki
    @SusanWojcucki 8 ปีที่แล้ว +4

    Their theatrics are amazing! They both deserve Oscars. 😆

  • @JediBearBob
    @JediBearBob 8 ปีที่แล้ว +14

    A valiant attempt to address the whole subject of "wealth of nations" in a short webisode. Much of the reasoning seemed circular, though, and it comes to no real conclusion. Why are some countries richer? Because some countries are richer!

  • @MagicSteel1
    @MagicSteel1 8 ปีที่แล้ว

    this video points out an incredibly important idea - communication jacking up effrctiveness of productivity.
    Not only it's important to have raw horsepower for productivity, but knowing what to produce and how to trade them is important too!

  • @jamariknox3918
    @jamariknox3918 8 ปีที่แล้ว

    This is incredibly well done. If only actual classes in economics were like this instead of "right well, you've got to remember the standard answer for the definition of productivity for the exam in 6 months word for word or you'll drop 2 marks" -_-

  • @DanielleAbigail
    @DanielleAbigail 8 ปีที่แล้ว +4

    I'm really enjoying this series so far. I've learn't a LOT; definitely the best CC (for me) so far! I'm learning a lot from the comments as well...just have to skip over all the salty ones lol. Keep it up!

  • @chrisk8208
    @chrisk8208 8 ปีที่แล้ว +6

    An economist says its because of productivity. An economic hitman says its because rich countries invest much time and effort into ensuring poor countries stay poor.

  • @indubitablyzara
    @indubitablyzara 8 ปีที่แล้ว +1

    I'm so glad you touched on the fact that resources ≠ a wealthy country, though I'm itching for Crash Course International Political Economy so we can talk about the resource curse and the effects of globalization on productivity...

  • @jicecile7934
    @jicecile7934 7 ปีที่แล้ว

    great video, remind us why productivity is so important to increase the standard of life of a country with simple examples !

  • @sora1461
    @sora1461 4 ปีที่แล้ว +4

    Me in episode #31: "didn't she wear that in episode 11?"

  • @TenaGordon
    @TenaGordon 8 ปีที่แล้ว +35

    yall r so adorkable. yall make an intro to capitalism more tolerable

    • @feynstein1004
      @feynstein1004 7 ปีที่แล้ว +1

      Ikr I'm not proud of it but I ship them. My brain is really weird sometimes.

    • @lionsmith3944
      @lionsmith3944 5 ปีที่แล้ว

      @@feynstein1004 what the heck

    • @feynstein1004
      @feynstein1004 5 ปีที่แล้ว

      +ninga 4 u anonymous Lol that was a year ago, dude. I don't ship them anymore.

  • @ramonamuntener7942
    @ramonamuntener7942 8 ปีที่แล้ว

    Thx Adriene for mentioning Switzerland and its cows :D You made my Swiss heart happy!

  • @espartanam
    @espartanam 4 ปีที่แล้ว

    Thank you Crash Course!! :) Productivity is the KEY to success :)

  • @pompeiusmagnus2276
    @pompeiusmagnus2276 4 ปีที่แล้ว +3

    When will Crash Course institute economics videos updated to 2019?

  • @bernardmulaw8404
    @bernardmulaw8404 4 ปีที่แล้ว +4

    I feel like history was over generalized in this video. I understand it’s a short video but colonization and slave trade history should be briefly mentioned when considering why Western countries increased their productivity.

  • @jogysvlogys4187
    @jogysvlogys4187 5 ปีที่แล้ว

    Thanks Crash Course you are so incredibly helpful!

  • @shevamtodkkar457
    @shevamtodkkar457 ปีที่แล้ว

    That was superb to the point video. Thanks Team!😃

  • @eostyrwinn5018
    @eostyrwinn5018 8 ปีที่แล้ว +9

    why does John run a bakery? Clearly he would run a pizzeria.

  • @sfinholm71
    @sfinholm71 8 ปีที่แล้ว +14

    At 3:37 "the main reason why some COUNTIRES are rich" YOU MISSPELLED COUNTRIES!!!!

    • @mercythedoll
      @mercythedoll 4 ปีที่แล้ว

      sfinholm71 and you misspelled countries lol

    • @jeremye941
      @jeremye941 4 ปีที่แล้ว

      @@mercythedoll no he didn't wtf

  • @tconroymusic
    @tconroymusic 5 ปีที่แล้ว

    I love your series. I am taking in one video per day.

  • @karthickraja2436
    @karthickraja2436 ปีที่แล้ว

    Thanks for this Wonderful Course Team!

  • @joshuacasey51
    @joshuacasey51 5 ปีที่แล้ว +5

    90% of the comments are about his AC/DC belt ......that’s 2019 for ya😂

  • @PeppeDaBari
    @PeppeDaBari 8 ปีที่แล้ว +11

    Nice belt!

    • @theresamay4280
      @theresamay4280 8 ปีที่แล้ว

      +MadeofAwesome4ever THAT'S EXACTLY WHAT THE UNDERTAKER TOLD JOHN CENA!

    • @Tuckems
      @Tuckems 5 ปีที่แล้ว

      Heather Stranger *Do do do dooooo*

  • @aka6double0
    @aka6double0 8 ปีที่แล้ว

    These videos are great, Thank you so much!!!

  • @rahulsankrutyan
    @rahulsankrutyan 7 ปีที่แล้ว

    Came here to learn economics.... but fell in love with this Adriene person!!

  • @jaydentaylor4299
    @jaydentaylor4299 8 ปีที่แล้ว +261

    Who misses John green ?:(

    • @leslucas
      @leslucas 8 ปีที่แล้ว +11

      +Jayden Taylor These are way harder to watch without him.

    • @jaydentaylor4299
      @jaydentaylor4299 8 ปีที่แล้ว +4

      +leslucas is weird to most people comedy always kept me laughing while learning about whatever . its not that there bad I'm just spoiled with the great john green

    • @lifelinerodz7703
      @lifelinerodz7703 8 ปีที่แล้ว +3

      I think we are just used to watch him over the CC History, but he is one of the executive producer of CC, so in part? He is still thre

    • @puppiesyay
      @puppiesyay 8 ปีที่แล้ว +17

      John Green would burcher economics to the point my face would melt. So even though I miss him, I'm happy he's not here.

    • @leslucas
      @leslucas 8 ปีที่แล้ว +1

      But he had an enjoyable take on my subject of history. Each their own.

  • @Qazic12
    @Qazic12 8 ปีที่แล้ว +14

    This was fantastic. They could have mentioned colonialism though.

  • @Liz-od7ys
    @Liz-od7ys 8 ปีที่แล้ว

    Very informative and clear. Thankx!

  • @ryandahuya4886
    @ryandahuya4886 6 ปีที่แล้ว

    Wow thanks to CrashCourse it will help me a lot for my board exam. i like all the videos specially this i earn and enjoy watching thank you guys.

  • @ArmageddonAngel
    @ArmageddonAngel 8 ปีที่แล้ว +11

    I always thought that Jacob Clifford's first name was Mr.

  • @fununclenerfs
    @fununclenerfs 8 ปีที่แล้ว +19

    Hold on...why on Earth would you need a different top for every episode? That's crazy talk! Who pays attention to what shirt you're wearing?

  • @lenindg92
    @lenindg92 8 ปีที่แล้ว

    Great job guys, salutes from Brazil!

  • @lesionpulse766
    @lesionpulse766 4 ปีที่แล้ว +2

    I love Crash Course and I’ve learned a lot more from it then in my 18 years in school so far so it’s sad that a lot of people (here at least) would laugh if you reference this as a source (though, it’s totally understandable for a research paper)

  • @Dycehart
    @Dycehart 8 ปีที่แล้ว +20

    What about sweat shops? You have companies who are able to have workers who produce a tremendous amount of product, but their workers are being paid garbage.

    • @jimmyrong8169
      @jimmyrong8169 8 ปีที่แล้ว

      +JessietheLookout define tremendous

    • @Dycehart
      @Dycehart 8 ปีที่แล้ว +5

      Jimmy Rong In some Mexican sweatshops people are expected to produce 1,000 pieces a day. (www.globalexchange.org/fairtrade/sweatfree/faq)
      This average, about a piece a minute, is not uncommon. Many sweatshop workers are forced to work for 72+ hours straight to finish company orders.

    • @Thindorama
      @Thindorama 8 ปีที่แล้ว

      +JessietheLookout that's awesome, you get the most profits for the least amount of investment, mexico sounds like utopia

    • @Dycehart
      @Dycehart 8 ปีที่แล้ว +1

      Thindorama you're actually trying to justify sweatshops in support of profits? hilarious.

    • @dulcetelixirdemure
      @dulcetelixirdemure 8 ปีที่แล้ว

      +JessietheLookout exactly! I would argue that some of these developing countries have much higher productivity. in fact most of the manufacturing is happens outside the usa...

  • @Fetrovsky
    @Fetrovsky 8 ปีที่แล้ว +60

    "Socially unacceptable"... I don't think anyone cares about what you're wearing. I didn't even noticed you changed clothes between one episode and the next. I actually think it's frivolous.

    • @TheMuse260
      @TheMuse260 8 ปีที่แล้ว +15

      Trust me people would care if she didn't. They might not say it out loud in the comments but they would care

    • @Fetrovsky
      @Fetrovsky 8 ปีที่แล้ว +2

      +PinguThePenguin Unbelievable!

    • @pirateking888
      @pirateking888 8 ปีที่แล้ว +12

      +PinguThePenguin WOMEN would care. Guys do not care and do not notice.

    • @joujou264
      @joujou264 8 ปีที่แล้ว +3

      +PinguThePenguin And what would they do? Stop watching because a person isn't spending tons of money on sweatshop made clothes? Reenforcing pointless insecurities between us isn't exactly beneficial for society.

    • @TheMuse260
      @TheMuse260 8 ปีที่แล้ว +2

      Team Xtreme I would not say that :p Some men would care maybe a couple of them
      ***** Yea ikr, thats stupid. I wouldnt care tho. I see it as like the simpsons, they never change their clothes and i don't care

  • @sivasparch
    @sivasparch 8 ปีที่แล้ว +2

    amazingly explained!!!

  • @ekarademir
    @ekarademir 8 ปีที่แล้ว +1

    I know that you are summarising the points quite a lot, but there is a nice work by Paul Collier, "The Bottom Billion". In there he boils down the development traps to four:
    - Internal conflicts, like civil wars etc.
    - Natural resources; if the country has rich natural resources they generally don't tend to produce other stuff.
    - Geography; if the country is surrounded with bad neighbours her trade is gravely suffers.
    - Bad Governance.

  • @roselle9614
    @roselle9614 7 ปีที่แล้ว +4

    i really find it interesting, really
    but i'm pretty sure i'm not absorbing the info.
    maybe it will be once i'm done with all episodes and watch it all a zillion times. T.T

  • @TASmith10
    @TASmith10 8 ปีที่แล้ว +4

    The video boils down GDP inequality to one word: productivity. Next I'd like to see a video focusing on the real answer: exploitation. Also, in microeconomics, I'd like to learn how companies determine the price of their goods and services, and if there's an equation for a price that maximizes profit. Just a side note, if you're worried about the clothes you wear in these videos, my advice is to ignore any of the commenters on TH-cam who actually care. I don't come here for fashion notes.

  • @nannyoggsally
    @nannyoggsally 8 ปีที่แล้ว +1

    I really feel like the answer "productivity" is simplistic. Productivity is the answer to the question "what makes different countries have different GDP per capita?", but if the question is why some countries are poor you can't only point out to the GDPpC. You have to explain why historically they didn't develop so fast, what they produce, why they don't have same technology, why they have been exploited of their resources, colonization, and so son. Also you should explain the difference between absolute GDPpC or the one rearranged according to the buying power of each country. Incompetent governments also often have a reason why they are there. Free international trade is often very beneficial for the rich countries that can buy natural resources from poor countries, but the developmentalist economic theory suggests that protecting the economy of a developing country can make it change what is produced. What I mean is that if a poor country only sells their natural resources and low level products and buys what it doesn't have from rich countries it will never change what it produces. But it's clear that to get richer a country must develop industries and later services. A way to do it is to protect internal manufacture sector and subsidies and tax the import of certain goods. A country cannot have the productivity of a rich country, and cannot reach it, if it doesn't develop. Develop what? Develop more productive goods, "higher level" industry. For example Malawi produces almost only tobacco, the western tobacco industry buys it, and Malawi buys with the money the goods they do not produce, which is a lot of goods. Like this Malawi is not developing any other production, no industry, no services, no technology. The free international trade keeps this type of countries pinned to their undeveloped status. For developing countries it would often be useful to protect their manufacture sector with taxes on certain types of imported goods and subsidies on certain internally produced goods.

  • @pancreasnostalgia
    @pancreasnostalgia 8 ปีที่แล้ว

    This episode reminds me of my 6th grade social studies class. Also, computers are still very useful for playing Oregon Trail.

  • @TheEndsJustifyTheMemes
    @TheEndsJustifyTheMemes 5 ปีที่แล้ว +5

    Step 1.Type in google "countries by average IQ"
    Step 2.Check images.
    Step 3.Look at any image that shows the map of the whole earth.
    Makes you think.

  • @aurelianstanica2708
    @aurelianstanica2708 4 ปีที่แล้ว +13

    I will tell you right now why some countries are poor and others rich... :
    The poor countries have corrupt governments
    The rich countries have corrupt governments TOO!
    Because the rich countries like America, West Europe have been stealing and they still stealing today from the "poor" countries...And have something to do with history too...so you guys are right with almost of the things you are saying in the video, but you forgot to say about main thing: STEALING. You think America have all that wealth from productivity more than from stealing? Think of what American companies and army been doing around the world...THINK!

  • @jim409
    @jim409 ปีที่แล้ว

    Thank you. Helped a lot

  • @greenredcello5522
    @greenredcello5522 8 ปีที่แล้ว +1

    VERY HELPFUL :) I hope its effectiveness shows when I get to take my AP Economics..! But does this sound quite fast, only to me? or is it my shallow economics knowledge..

  • @Wenneguen
    @Wenneguen 7 ปีที่แล้ว +3

    The guy sometimes sounds like he wants to win a contest of who can speak the fastest (as a non english speaking person, this is quite annoying).
    Besides that, this is great !

    • @3sm1rost84
      @3sm1rost84 7 ปีที่แล้ว +3

      John Green is worse, on that point of view.

    • @patmcd7849
      @patmcd7849 7 ปีที่แล้ว +1

      That's crash course for you!

  • @wayne7055
    @wayne7055 8 ปีที่แล้ว +9

    I was so excited for this Crash Course, but so far, I really hate the humor and writing. I don't understand why Government & Politics and Astronomy are so well done, yet Economics falls so short.

  • @brandan4375
    @brandan4375 8 ปีที่แล้ว +1

    Love the shout outs for Singapore :)

  • @xandra5love
    @xandra5love 8 ปีที่แล้ว +1

    These videos will save my life this year in my ap econ class. Having this foreknowledge will help a ton! Thanks a TON!

  • @nakib5010
    @nakib5010 8 ปีที่แล้ว +14

    Shoutout to all the Bengalis watching this video (hope its not just me)

  • @armskaap
    @armskaap 8 ปีที่แล้ว +59

    Explaining why some countries are poor and others rich and not even mentioning colonialism or neocolonialism isn't just turning an ideological blind eye to history, it's completely incorrect. This episode implies that the West got on top through merely improving their productivity, instead of murder, plunder, slavery and the sucking dry of colonies whilst prohibiting the start of local production. And it ignores the economical stranglehold the West has on (parts of) the rest nowadays. What happened to the nuanced image Crash Course used to provide in series as World History? I was hoping this could be a decent, non-ideological introduction to economy. But apparently capitalist economy can only be explained in a "neutral" way by ignoring the horrors that were necessary to begin it.
    I hope this changes a bit in future episodes!

    • @eustatic3832
      @eustatic3832 8 ปีที่แล้ว +4

      +armskaap hear hear!

    • @8jijjoo126
      @8jijjoo126 5 ปีที่แล้ว +9

      Expect the European Empires were already leagues above Africa and Asia before the so-called looting began. The industrial revolution , which was the real game changer, started 1700s to 1800s.
      This is the period of time in which European hegemony from 1800s onwards was guarenteed. Europe conquered the planet and maintained large empires through intellect, superior discipline and superior work ethic.
      By 1880s the africans and most of Asia were outclassed in every single way. So no, colonialism had nothing to do with the increase of Europe's wealth -- Europe and the USA were already wealthier then Africa by that point.

    • @The_Somen_Roy
      @The_Somen_Roy 5 ปีที่แล้ว +6

      8jij Joo After all the things that John green taught on his history course is this the conclusion that you reach?

    • @berniegurrs6463
      @berniegurrs6463 5 ปีที่แล้ว +5

      That feeling when all African countries who were colonized are actually better off than the ones who weren’t

    • @joselugo2514
      @joselugo2514 5 ปีที่แล้ว +1

      And how do you think the the west could conquer the rest of the world?
      Productivity it also means more and better: Guns, medicines, ships, soldiers etc etc, (not that was a good thing nor that is justified) the wealth is caused by the productivity that makes capitalism so efficient.

  • @mysigt_
    @mysigt_ 6 ปีที่แล้ว

    Finally! A man who shares my passion for ACDC belts!

  • @mrAZcardinal
    @mrAZcardinal 4 ปีที่แล้ว

    6:26 south of Salt Lake City, Utah. Recognized it immediately