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.
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That was superb to the point video. Thanks Team!😃
you really could just get an outfit you use for all the videos…
Very I teresting
Thank you. Helped a lot
How could you even imply that the third world exists because of"productivity" as a main factor. Compeltely skipping over the fact that their productivity is low because they are feeding into a global system dictated by their former opressers, and so much of their wealth and industrial sectors are owned by outside sources.
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.
4:02 Being picky but the heroes height is all wrong
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
I understood 3 weeks worth of work in just 8 minutes……This was fun and very helpful
Thank you guys😁😁😁
Watching this in 2020 and hearing China being called a 'developing' country was shocking. Then I realised that they basically went from developing to developed as a mother f**ker overnight. Here's to the next global superpower
Having problems understanding them? Switch to 0.75x speed. It helps
How wealthy a country is depends on how much natural resources is has. More resource means more productivity. A lot of countries like India, Pakistan and Bangladesh have a very large working age population but, they are still struggling to become a fully developed industrialized country because they lack the natural resources that it needs. Countries like Canada and Australia actually have a much smaller population then countries like India, Pakistan and Bangladesh but they're economies are more prosperous as they have more natural resources. According to clockify .me Germany works 1371hrs/yr while India works 2162hrs/yr, yet Germany's GDP is 3.86 trillion while Indias GDP is 2.94 trillion. A larger population doesn't mean a higher GDP either. Germany's population is 83 million (2019) where India population is 1.3 billion (2018) which is 6.1 times larger.
My opinion concerning the developments of the Economy in the world:
Read carefully!!👇👇
In order to improve the economy effectively and make it more sustainably, we need self-invetsment and efficient orientation system because when you learn how to teach and develop your skills and indepdence, you are going to achieve self-sufficiency, and you will definitely be able to help other people to move forward with the economy.
An efficient orientation system is going to contribute in providing people with suitable and great advices which they need to choose their major and passion, because there are lot of people who choose a major or filed which they are not convinced with, but just because their family or friends told them to, therefore they couldn't manage to improve them selves properly.
I thought she was gonna talk about colonization and capitalism lmao.
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.
Lol, definitely played Oregon trail. But everyone wanted to play Power Pete.
Is it just me or did he talk even faster in this one than all the previous ones
Is the inspector supposed to be Clouseau or Poirot?
6:26 south of Salt Lake City, Utah. Recognized it immediately
so if a country creates more jobs the richer is gets
But isn't productivity in direct conflict with sustainability?
CC : Developing countries are poor because of corrupt governments.
Developing countries : hold my colonialism
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.
A great video! nevertheless, It didn't shed light on the most-affecting factor: IMPERIALISM; in the years that the presenter claims that the US was growing its GDP & human capital along with other western European states.. this development was built on the shreds of Africa, literally It was! Africa was shed out of its manpower due to SLAVERY! those slaves that were taken to build other nations' so called "GDP"!! and Even the corrupt leaderships of the so called "developing'' countries, it can be blamed on IMPERIALISM; haven''t you heard about "Operation TP-AJAX" of the CIA? well, you better search for it!
2:24 That scary moment when someone gives that look , when its unknown whether she loves "Cow" or "Beef"..
well,Qatar has highest per capita income but why is US considered richer!!
Wow diid these guys really say that some countries are poorer because they are less productive? How about that might be a factor yes but another factor is countries like the U.S have been stealing resources from the so called poorer countries.
4:44 is that marx?
I have to watch this for school (online school) gosh darn Coronavirus
Its not Zimbabwe corrupt government that keeps them poor its corrupt international government that keep them poor. Zimbabwe actually moves its natural resources but it mainly supports European countries. Same for the France with its francophone African nations. Those countries are rich because of modern day imperialism that the U.N. refuses to address.
Make Zimbabwe Rhodesia again.
They don't bring up how the value of money decrease over years so the cost and salary goes up.
So you come from a rich country, I see your productivity in this video, not just that but in the entire channel.
There's history too why some countries are poor. Colonisation by EU and Western Nations looted Asia and Africa and their wealth plundered. Asia was rich for 17 centuries and 4 centuries of loot resulted in poverty that no Western Nation takes responsibility, is the real reason for low GDP.
Its what correlates with rises and falls in output what stands testament to its definition. productivity increasing when it needs to like Brexit, a shorter overseas supply or the Cornovirus, a smaller workforce. A increased purpose of what before had less purpose.
i think The institutions ate The reason for The development of The countries, productivity it is a consecuence of it. Great program!
Watching from Pakistan GDP 300 billion, GDP per capita 1700 USD population 210 million
How can you not address imperialism and colonialism? RME
that cringy intro gave me a good chuckle. Great work, CrashCourse! 🙂
… so they're not going to mention colonization rich countries looting poor ones?
Oh.
Love from Bangladesh. 🙂 Eco101 xm is near 🙁
Can someone tell me what age group this is targeted at? I am not sure if its for middle school or like highschool. Just curious.
yes and nothing at all to do with colonialism and exploitation…
If you have a zillion barrels of oil and a small population you are a wealthy country. If you have a zillion barrels of oil a huge population and a corrupt government that
steals you're going to be less rich. And for the rest of world old money helps.
Thank you Crash Course!! 🙂 Productivity is the KEY to success 🙂
How do software companies make product?
3:13 and that is why capitalism is exploitation. The fact that John profits by paying workers less than what they produced in dollar value, is inherently exploiting their labor so he can get the gains of their work.
Productivity -> GDP per Capita. The interesting point in this video for me is about the worker who can be paid humanely when they can produce more, when the productivity is increased by technology.
GDP per capita -> Standard of Living