Economics Explained

Join Trends today and get your first week for just ONE dollar! 👉 http://trends.co/ee​How is the Suez Canal disaster going to impact the already struggling shipping industry?Who is actually going to end up paying the 400 million dollars an hour that this debacle was reported to cost?And how might all of this help accelerate the rollout of modern airships? ... all this and more in today's episode of Economics Explained!Enjoyed the podcast? Comment below! 💬 Learn more about your ad choices. Visit megaphone.fm/adchoices

🌈🐱 Get your very own EE NFT! 👉 https://opensea.io/collection/economicsexplained Nyan Cat, a video of LeBron James dunking, and a tweet by Jack Dorsey. These all have one thing in common (and no, it’s not because they were sold in recent months for millions of dollars, contrary to what you may have heard). What actually happened was the unique digital signatures of these three pieces of media were sold-off to a new breed of 21st-century collectors; bringing massive attention to these Non-Fungible Tokens (or NFTs). Overwhelmingly, the astronomical prices some NFT sales have fetched have attracted ridicule by outside observers. Perhaps understandably so, considering some are spending Lamborghini money on a Nyan Pop-Tart cat GIF that you anyone watch for free online. But is it really all that ridiculous? In this video, we’ll explore the potential NFTs hold and why these laughable prices may not be so absurd after all.Enjoyed the podcast? Comment below! 💬⭑ Subscribe to Economics Explained Youtube Channel 👉 https://bit.ly/sub2ee ⭑ Enjoyed? Hit the like button! 👍 Q&A Streams on EEII (2nd channel) → https://www.youtube.com/channel/UCOTgNyfQG4vVP5sCXrJaS4g ✉️ Business Enquiries → EconomicsExplained@ibg.yt 🎧 Listen to EE on Spotify! 👉 https://anchor.fm/EconomicsExplained Follow EE on social media: Twitter 🐦 → https://twitter.com/EconomicsEx Facebook → https://www.facebook.com/EconomicsEx Instagram → https://www.instagram.com/EconomicsExplained Discord → https://discord.gg/MJGcTH6 ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ECONOMICS EXPLAINED IS MADE POSSIBLE BY OUR PATREON COMMUNITY 👊🙏 Support EE by becoming a Patron today! 👉 https://www.patreon.com/EconomicsExplained Learn more about your ad choices. Visit megaphone.fm/adchoices

How do companies come up with their intricate supply chains? Why are some of these supply chains so convoluted where others are extremely straightforward? Will the severe restrictions put on international shipping during the fallout of the coronavirus make companies rethink how far they extend their supply lines? ... all this in more in today's episode!Enjoyed the podcast? Comment below! 💬⭑ Subscribe to Economics Explained Youtube Channel 👉 https://bit.ly/sub2ee ⭑ Enjoyed? Hit the like button! 👍 Q&A Streams on EEII (2nd channel) → https://www.youtube.com/channel/UCOTgNyfQG4vVP5sCXrJaS4g ✉️ Business Enquiries → EconomicsExplained@ibg.yt 🎧 Listen to EE on Spotify! 👉 https://anchor.fm/EconomicsExplained Follow EE on social media: Twitter 🐦 → https://twitter.com/EconomicsEx Facebook → https://www.facebook.com/EconomicsEx Instagram → https://www.instagram.com/EconomicsExplained Discord → https://discord.gg/MJGcTH6 ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ECONOMICS EXPLAINED IS MADE POSSIBLE BY OUR PATREON COMMUNITY 👊🙏 Support EE by becoming a Patron today! 👉 https://www.patreon.com/EconomicsExplained Learn more about your ad choices. Visit megaphone.fm/adchoices

In today's episode, we'll explore the economic factors that are likely to define the airline industry for the foreseeable future! ✈️What are the new pressures pushing prices upwards? What are the pressures pushing prices downwards? And, perhaps most importantly: how will all of this impact the way airlines operate in this already highly-saturated market?Enjoyed the podcast? Comment below! 💬⭑ Subscribe to Economics Explained Youtube Channel 👉 https://bit.ly/sub2ee ⭑ Enjoyed? Hit the like button! 👍 Q&A Streams on EEII (2nd channel) → https://www.youtube.com/channel/UCOTgNyfQG4vVP5sCXrJaS4g ✉️ Business Enquiries → EconomicsExplained@ibg.yt 🎧 Listen to EE on Spotify! 👉 https://anchor.fm/EconomicsExplained Follow EE on social media: Twitter 🐦 → https://twitter.com/EconomicsEx Facebook → https://www.facebook.com/EconomicsEx Instagram → https://www.instagram.com/EconomicsExplained Discord → https://discord.gg/MJGcTH6 ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ECONOMICS EXPLAINED IS MADE POSSIBLE BY OUR PATREON COMMUNITY 👊🙏 Support EE by becoming a Patron today! 👉 https://www.patreon.com/EconomicsExplained Learn more about your ad choices. Visit megaphone.fm/adchoices

Aluminum smelting. Geothermal power. Bitcoin mining. What do all of these things have in common? ... Iceland! 🇮🇸 How has the nation weathered this economic turbulence without turning into a failed state? What end of the economic spectrum is the nation on today? And what industries drive this tiny little economy? All this and more in this episode of Economics Explained! ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ Enjoyed the podcast? Comment below! 💬 ⭑ Subscribe to Economics Explained Youtube Channel 👉 https://bit.ly/sub2ee⭑ Enjoyed? Hit the like button! 👍 Q&A Streams on EEII (2nd channel) → https://www.youtube.com/channel/UCOTgNyfQG4vVP5sCXrJaS4g✉️ Business Enquiries → EconomicsExplained@ibg.yt 🎧 Listen to EE on Spotify! 👉 https://anchor.fm/EconomicsExplainedFollow EE on social media: Twitter 🐦 → https://twitter.com/EconomicsExFacebook → https://www.facebook.com/EconomicsExInstagram → https://www.instagram.com/EconomicsExplainedDiscord → https://discord.gg/MJGcTH6▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ECONOMICS EXPLAINED IS MADE POSSIBLE BY OUR PATREON COMMUNITY 👊🙏 Support EE by becoming a Patron today! 👉 https://www.patreon.com/EconomicsExplained Learn more about your ad choices. Visit megaphone.fm/adchoices

$42 billion dollars. That is the amount of money grossed by films at the global box office in 2019. Impressive? Definitely. Surprising? Probably not, especially when you consider that global box office revenues have increased year-over-year since 2005. That was, of course, until COVID. As you’d expect, the pandemic has devastated Hollywood – resulting in an unprecedented seventy-one percent (71%) decline in global box office revenue. Worse yet, we all have to go another year without Daniel Craig’s No Time To Die – a title that has since taken-on somewhat of an eerie meaning. But putting the absence of James Bond aside ... movie ticket sales have actually been on the decline for nearly two decades – despite a steady increase in population over the same period. So, if people are going to movie theatres less often – and they are – then what exactly is driving the growth behind global box office revenue? [note] To answer this question, you have to understand the economics of Hollywood. How do movies get funded? What is the role of government subsidies and alternative revenue sources? How can a movie gross more than its budget and still lose money? And finally, what are the economics behind movie theatres and their twenty-dollar buckets of popcorn? ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀Enjoyed the podcast? Comment below! 💬⭑ Subscribe to Economics Explained Youtube Channel 👉 https://bit.ly/sub2ee ⭑ Enjoyed? Hit the like button! 👍 Q&A Streams on EEII (2nd channel) → https://www.youtube.com/channel/UCOTgNyfQG4vVP5sCXrJaS4g ✉️ Business Enquiries → EconomicsExplained@ibg.yt 🎧 Listen to EE on Spotify! 👉 https://anchor.fm/EconomicsExplained Follow EE on social media: Twitter 🐦 → https://twitter.com/EconomicsEx Facebook → https://www.facebook.com/EconomicsEx Instagram → https://www.instagram.com/EconomicsExplained Discord → https://discord.gg/MJGcTH6▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ECONOMICS EXPLAINED IS MADE POSSIBLE BY OUR PATREON COMMUNITY 👊🙏 Support EE by becoming a Patron today! 👉https://www.patreon.com/EconomicsExplained Learn more about your ad choices. Visit megaphone.fm/adchoices

This is new Zealand, a picturesque nation whos economy looks to exclusively rely on throwing their tourists off cliffs in increasingly imaginative ways and being left off of world maps.But Australia’s little brother is so much more than that and it might truely be the world’s best managed economy. Everything from the world banks ease of doing business index, from multiple quality of life assessments puts new zealand in the top spot. Move aside Norway.What’s more is that it has achieved this remarkable prosperity despite not having a huge supply of natural resources, or acting as some tax haven for global businesses like so many other apparent economic miracles we have explored before.No New Zealand has got to where it is today by carefully managing a market economy and providing a safe, stable and confidence inspiring place to start a family, a business, and a career.Of course there are still some problems and we will certainly get to them but after exploring the Economy of Argentina last week, it’s now time to get out your pen and paper and take notes on how to actually run an economy.And to do this as always we are going to break the economy into some important categories.What are the primary drivers of New Zealand's economic prosperity?How has the nation been able to accommodate these where other nations fail to do so?And what are the challenges the nation might face to keep this success going?Once thats all done we can then put New zealand on the economics explained national leaderboard. Learn more about your ad choices. Visit megaphone.fm/adchoices

So the holidays are behind us and if you were left disappointed by what you found under your Christmas tree it might be because you weren’t in the spirit of things, or it might have been because Santa couldn’t get any stock of anything.The good little consumers of the world might have started to notice an increasingly common trend where more and more products sell out the day they are released, or are never available at all to ordinary consumers.Everything from playstations, switches, Xboxes and graphics cards, to lego sets, handbags, watches, and even toilet paper, it seems more and more like we are living in a world that is out of stock.But why?Stock shortages from time to time happen, that’s just general supply chain management but why has this become such a consistent issue.All of these products are made by businesses with a profit motive, and those profits don’t get made unless products get sold, so what gives?Now I know what you might be thinking, “err it’s the virus of course” and certainly this has thrown a spanner into the works of global supply chains but it’s not the whole story.Limited supply is one thing, but if traditional economics is to be believed, businesses don’t let themselves run out of stock, instead they just raise prices to match demand and maximize their profits.What’s more, is that the coronavirus is not exactly new news to companies. If they were caught out in early 2020 then fair enough, but almost a year later you would think the corporate executives responsible for multi-billion dollar product launches could account for this new global paradigm, right?But they haven’t, and you might ask why?Well to understand this we as always need to look at a few key things.How have global supply chains been affected, beyond just blaming everything on COVID?Are the companies involved actually making poor business decisions?And why aren’t these products just doing what supply and demand would tell them to do and increase in price? Learn more about your ad choices. Visit megaphone.fm/adchoices

Whenever we see China in the news it’s normally for some impressive statistic about building stuff, or how it is now home to the most millionaires in the world, or maybe it’s even an article about whatever geopolitical tomfoolery they are trying to pull this week. But what is often forgotten about this is that behind the somewhat intimidating outward appearance of economic might and glistening skyscrapers, china is an extremely poor country. This almost sounds a bit paradoxical given the wealth that is so evident from the outside. Nevertheless average incomes in China are still less than $15,000 USD’s per year, and that’s average, so in a nation that reports a Gini coefficient of 0.47 with some independent research noting this could be as high as 0.73 that means there are a lot of poor people at home in this economic miracle. In plain English, this means upwards of half a billion people in China are living on less than $10 per day, primarily made up of those still living in rural areas.Now this fact is not lost on the Chinese government, who know that a growing wealth divide in their worker’s paradise is not a great look, especially if that divide is between the cities fueling growth and the farmers feeding them. That is why in just the last 5 years the government has poured the equivalent of over 800 billion dollars into aid in areas where extreme poverty is still commonplace. This is to say nothing on state-owned enterprises which easily bring this running total to over a trillion dollars in the same time period. A trillion dollars in 5 years, that’s more than the entire GDP of 3 quarters of the world’s countries, on one single welfare project. Even for a government as wealthy as China’s, this is ultimately not sustainable.So a new solution was needed to make these systems more efficient at solving core issues rather than alleviating the symptoms with handfuls of cash.And there might be a lot to take away from what they have done so as always we need to understand a few things. How much poverty is there actually left in china?Why is this so difficult to measure?Why does China care so much?And how might cows be the solution to this whole problem? Learn more about your ad choices. Visit megaphone.fm/adchoices

This is Argentina – a South American nation that has been home to an unprecedented period of sustained growth quintupling in size in the last decade. This nation has seen remarkable resilience through financial crises and even though it cycled through 5 presidents in two weeks, its continued re-investment in itself has paid off many times over as average incomes have doubled in the same time period to create fantastic increases in the quality of life for all the citizens of the nation.Or at least that would have been the video we were making a few years ago. Unfortunately today the economy of Argentina tells a very different story.Just as quickly as the economy soared to these lofty heights it has crashed back down bringing about a period of heavy inflation and widespread poverty.But perhaps this shouldn’t be a huge surprise, in the last 100 years, the economy of Argentina has been categorized by periods of massive growth followed by huge declines making the most recent decades little more than a continuation of that unfortunate trend.This is a real shame because Argentina obviously has a lot going for it, from a healthy population of productive workers, strong natural resource reserves, and even a landmass that is very conducive to foundational industries like manufacturing and agriculture.But despite all of these advantages Argentina has time and time again fallen into this unfortunate pattern and is now teetering on the edge of becoming a full-blown failed state.Nobel prize-winning economist Simon Kuznets is said to have remarked in the early 1970’s that there are four types of economies in the world, developed, underdeveloped, Japan and Argentina.We have already explored what makes Japan so weird, but to unravel the mystery of Argentina we are going to have to understand a few specific issues.What has caused the various economic booms over the years?What has caused the subsequent economic declines?And why is this most recent downturn just a little bit different?Once we have done all of that we can get to the fun stuff and put Argentina on the economics explained national leaderboard, how's that for a 2020 grand final? Learn more about your ad choices. Visit megaphone.fm/adchoices