WATCH VIDEO HERE: https://youtu.be/x6sLoit6_kM
What if you distribute the wealth of the world equally among everyone? Well, Wealth inequality is not a distribution issue entirely. Individual choices and temperament can’t be neglected. A one-time reset does not change anything. Wealth distribution may sound like choosing altruism over greed, but there is a lot more to it. This utopian fantasy attracts a lot of people so let’s dig deep into it.
First you have to answer questions like what do you mean by wealth? do you want it to happen as a one-time event? Who would you sell all the assets to? Who would manage this whole event? Do you consider taking money from rich as stealing? How would you redistribute the wealth without halting the production lines?
The episode also answers what would happen if you actually go through the process of distributing wealth among everyone. It also discusses scarcity economics, demand and supply, inflation, and various groups inclination with newly found wealth. The video also mentions communism and capitalism .
The episode also discusses human psychology and disparity. It also highlights the Pareto Principle also known as the 80/20 rule. Please share your thoughts by writing in the comment section below.
WATCH VIDEO: https://youtu.be/xKk6l18yTLw
Collective ownership vs private ownership is a debate-able topic in economics. The video highlights some of the things wrong with collective ownership and how it can't sustain in large groups and how fundamentally it goes against the human nature.
’What is common to many is taken least care of, for all men have greater regard for what is their own than for what they possess in common with others.’
Some of the issues with collective ownership are: there is a big disconnect between the utilization and obligations, it suppresses individual freedom as you are dependent on other people to use a resource, its capability to drift towards authoritarianism as people who preach collective ownership have a high tendency to enforce their so-called “good idea” as something mandatory.
The video also discusses 'the tragedy of the commons', that describes a scenario where individuals have free collective access to a resource without any social structure or governing rules, they act in their self-interest for a while but eventually end up depleting a resource.
“For that which is common to the greatest number has the least care bestowed upon it. Everyone thinks chiefly of his own, hardly at all of the common interest; and only when he is himself concerned as an individual. For besides other considerations, everybody is more inclined to neglect the duty which he expects another to fulfill.”
#communism #capitalism #socialism
WATCH VIDEO HERE: https://youtu.be/Qr-5xJ9p8xY
The Netherlands is among the top 20 biggest economies in the world, and a GDP per capita of over fifty thousand dollars.
There is this topic that individualistic societies are more likely to gain economic success collectively. The government traditionally had a higher regulatory role in the economy. It remains highly regulated but still a ‘market economy.In fact, it is arguably often referred to as the birthplace of modern capitalism with a history of The Dutch East India Company.
It also discusses "Tulip Mania" and "Greater Fool Theory”.It also discusses Groningen gas and it's impact on the Dutch economy as well as "The Dutch Disease".
It also discusses certain behavioral economics aspects, employment rate, part-time employment, income inequality, wealth inequality, welfare programs and spending, household debt and housing, population density, tax havens and corporate tax avoidance, importance of Rotterdam, EuroZone and the possibility of Nexit, Agricultural innovation & Wageningen University, and Doughnut Economics.
#netherlands #dutch #Amsterdam
WATCH VIDEO HERE: https://youtu.be/bmB_AX81QvM
Canada, a commonwealth country, has a service based economy, based on the principle of “Peace, Order, and Good Government. Canada is not a socialist country. It is a capitalistic economy. A mixture of capitalism and minimum state regulation, instead of a mixture of capitalism and socialism.
Canada, just like many developed nations, followed a sequence of transitioning from a raw-material-based economy to a manufacturing-based economy, and finally transitioning again to a service-based economy.
Ranked among the top ten countries on Economic Freedom Index, the Canadian economy has some resemblance with the Australian economy.
The video also discusses Canadian immigration and its role on the country's economy. The population factor is also mentioned and how the aging population, low fertility rate and lower working age population has been impacting the economy. It also mentions the types of immigrants including the students, skilled workers and rich investors.
The video also discusses Canada's willingness to push away from it's oil dependence and how it impacts the economy. It mentions the Staples Thesis as well how much diversified the economy is.
The video went on to discuss maple syrup, Canada and United States trade, minimum wage, household debt, disposable household income & discretionary income, household debt, manufacturing sector, healthcare system etc. among the other topics.
#canada #canadian #economy #timhortons
WATCH VIDEO HERE: https://youtu.be/I_M3RIMWju8
The economics of marriage is a detailed topic learnt under the labour economics subject. It involves looking at marriage through principles of economics like a market, demand and supply, opportunity cost, utility maximization, economies of scale etc.
This is not going to sound romantic but marriage, even in recent times, can seem like a business setup. Two people agree to go into a partnership, sign an agreement, get a license from the government, and bring resources together for shared goals.
Who is available, who marries who, and who is potentially suitable, makes the whole thing look like a market! Calling it a market probably does not sit well with many people, however, it's comparatively normal for the economists like Gary Becker.
Marriage is probably becoming more of an option than a necessity. But people marry because it makes economic sense among the other reasons. The video also discusses 'male marital wage premium' and motherhood penalty. It also highlights many economic advantages of marriage for example tax benefits, economies of scale, saving vs spending, home and car purchase, combining finances after marriage and so on.
“In sickness and in health”, also includes "in poverty and in wealth". So marriage comes with a lot of costs including mortgage, car leasing, health insurance, emergency budget for an unexpected financial crisis, saving funds, retirement plans, bills, and necessities, honeymoon, leisure & holidays, monthly expenses, long-term wishes, unexpected spending, pregnancy, and last but not the least, raising children. All this starts with the wedding ceremony which is a costly affair. Venues, catering, photography, dress, flowers and the ring, and tons of other expenses. Wedding planners and others who facilitate this happiness remain a very lucrative industry. The newer generations are fighting many traditions and advocating to lower the cost for many such spendings as sustainability and modesty are on the rise.
Divorce is also discusses like If the marriage breaks up, who would walk away with what? who owns what? Lawyers taking advantage of divorce settlements as well as high profile marriages.
#marriage #dating #divorce
WATCH VIDEO HERE: https://youtu.be/DiWUUiPUua8
The economy of Turkey. Turkey is a G20 member nation and the 20th biggest economy in the world by GDP. The country's currency Lira faced issues in the recent years.
Known for narrow waist glass tea, hard to get Dondurma ice-cream, mystic Sufi Whirling, a history of the Ottoman Empire, and the majestic Aya Sofya, Modern-day Turkey was founded on the principles set by Mustafa Kemal Atatürk, who implemented social, political as well as economic reforms and as a secular system.
The video discusses how Turkey imports a lot more than it exports that resulted in a “trade deficit” also known as a “negative balance of trade” which in turn put currency on the country's currency Lira, and decline in the purchasing power of the currency resulted in inflation. The video also discusses Turkey's political leadership and president Recep Tayyip Erdogan's response to this "Debt-Currency Crisis" and how he refused to increase interest rates in order to stop the rising inflation.
The video also discusses tourism, and food options including Turkish coffee, Turkish kebabs, Turkish Tea, scrumptious Baklava, and Kumpir. The video also highlights medical tourism followed by some behavioral economics. The video further discusses corruption, refugees, agriculture, oil and fuel consumption, labor force participation rates and tertiary education attainment.
#Turkey #Turkish #Economy
Watch the video here: https://youtu.be/7ahwA9cQtD0
Australia is the 12th biggest economy in the world by GDP and it's among the list of countries with GDP-per-capita of over USD 50,000.
The country, also known as the “Wonder Down Under” takes pride in witnessing the longest continuous GDP growth run. After 1991, the country didn’t see any recession for nearly 3 decades. The country with the long coastlines even surfed its way through the 2008 financial crisis without getting much affected. A whole generation in Australia didn’t even know what recession was until 2020.
For years, the continent-nation remained at a disadvantage for its remoteness from major trading markets like North America and Europe. But the late 20th century resulted in the rise of emerging markets in east and south Asia. It is said that “you are known by the company you keep” and the company and trade with countries China and Japan, along with the added power of globalization, made the Australian economy stronger than ever.
Estimated at nearly US $20 trillion, Australia has the tenth highest value of natural resources. While the presence of natural resources does not guarantee economic prosperity, and there are plenty of examples, Australia has managed to do very well with its natural resources and meeting the demands of the eastern emerging markets. #Australia #Aussie #Australian
The video also discusses Australia and China economic indifferences and trade war, population and immigration, population density, urban population, cultural values and impact of consumer spending, research and development, ease of doing business, Australia's tradition food industry, government's debt to GDP ratio, Account deficit and surplus, Australian dollar, mean and median net wealth, super annuation.
The video also discusses the housing crisis in Australia, its reasons, urban population concentration, banking lending practices for houses, low interest rates and negative gearing.
WATCH VIDEO HERE: https://youtu.be/PGm0ajXGmr4
Italy is the 3rd largest economy in Europe. Italian economy is also the 8th largest economy in the world by GDP.
Talking about the country’s romanticized image with pasta, pizza and operas remains acceptable, but talk about the country’s image with fast trains, and everyone pulls back and considers it not much “Italian”.
The truth is that Italy was painted in the corner as a basket case and a backward European member while that's not the case. Italy is the tenth biggest exporting nation and a leading economy in many sectors including machinery, vehicles, pharmaceuticals, precious metals, clothing, and accessories, etc. With nearly 60 percent of its trade with the European Union, Italy is the second-biggest manufacturing country in Europe fueled by small to medium-sized enterprises.
The video also discusses Marshall plan by United States, European Common Market, “Hot Autumn”, a series of strikes from 1969 to 1970, and “Years of Lead”. It also discusses Euro Convergence Criteria of 90s, Red Tape and recession, and 2008 financial crisis's impact on the Italian economy followed by Euro-Zone Debt Crisis and another recession.
The video also highlights Political instability, large coalitions and corruption in the government sector. We have also mentioned the debt to GDP ratio, government spending, pension system of the country, baby pensioners, impact of Euro replacing Lira compared to Netherlands and Germany, and Italy's idea of parallel currency.
The video also depicts labour laws and employers protection as well as youth unemployment in the country along with cultural inclinations like living long with parents impacting economic decisions. Other factors include highest older population with low fertility rates. Italian economy also suffers from the inequality between the southern and northern regions.
The video also discusses Italy's prestigious automotive industry with car brands like Ferrari, Maserati, Lamborghini, Alfa Romeo, and Ducati bikes
Last, we discussed the travel and tourism industry of Italy including mentions of From Rome’s Colosseum to Florence’s Duomo Santa Maria del Fiore, From Milan’s Duomo to the Grand Canal of Venice, From Leaning Tower of Pisa to Lake Como.
#Italy #Italian #Economy
You can also check other topics on economy on our channel: https://youtube.com/playlist?list=PL64ewlzSRkI-oJ5ekMCTtLy0PJ4xxPAzw
Economy of countries: https://youtube.com/playlist?list=PL64ewlzSRkI8j_Be--1Htkaae5l9iUzYD
Watch the full video here: https://youtu.be/ntnNq3tsxE0
The video discusses business lessons and the economics of “Breaking Bad” and everything related to the show from the money point of view.
It shows Walter White and Jesse Pinkman’s natural talent in how he manufactured, sold, and created a business around his product. It also highlights startups, role of partners, co-founders, employees, keeping the business costs to minimum, product quality, demand and supply, branding, starting up small and scaling up the business later, understanding business priorities, rise of prices after consumes appreciation, inflation, calculated risks, the price-quality control, cost to benefit, economies of scale, consumer markets, legal services in business, business negotiations, expanding the business territory, charity and money laundering concepts etc.
From being a regular guy, with a day job as a chemistry teacher and a second job at a car wash, to becoming Heisenberg, a name he would later be known as in the underworld, Walt exhibited a natural talent in how he manufactured, sold, and created a business around his product.
If you have not watched the show yet, you are missing one of the greatest show of all times. Photos in the video are taken from the AMC Breaking Bad series!
#BreakingBad #BetterCallSaul #WalterWhite
Watch the video here: https://youtu.be/Iv2NQuCuRg0
France known as 3rd biggest economy of Europe and as the 7th largest economy in the world by GDP. The French economy video also discusses France exports, its economy's strengths, tourism and its impact on food and fashion industry, current account surplus and deficit, GDP to debt ratio and government spending, French industries, high corporate taxes, competitiveness against European Union states, gold reserves and productivity of French people.
The country famous for crispy-crusted Baguette, saying “Oh La La” a-lot, tour de France, Notre-Dame Cathedral, Eiffel Tower, the 3rd biggest economy of Europe and as the 7th largest economy in the world by GDP.
The country’s economy has four major components; Immensely strong businesses, immensely strong trade unions, immensely strong government, and last but not least, immensely strong people.
The people of France have a free education, a 35-hour work-week, six weeks’ annual vacation, paid parental leave, retirement age at 62, an attractive welfare safety net, and a free universal health care system. These rights were fought for by the people over the years.
You may have heard about the French always on strike. French while not completely saints, do NOT go on strikes as much as other countries, In fact, a lot less than how it is projected in the media. This French spirit cannot be understood without maybe understanding the French Revolution. Despite fine wines, delicious cuisine, high fashion, and hundreds of different cheese to choose from, the French are Les Misérables.
The topic of the French economy goes untouched without talking about its high unemployment rate. There has always been a correlation between the minimum wage and the unemployment rate. French work fewer hours compared to other countries, 35 hours a week. The minimum wage in France is 1,554 Euro which is one of the top five in the world.
You can also check other topics on economy on our channel: https://youtube.com/playlist?list=PL64ewlzSRkI-oJ5ekMCTtLy0PJ4xxPAzwEconomy of countries: https://youtube.com/playlist?list=PL64ewlzSRkI8j_Be--1Htkaae5l9iUzYD #french #france #economy Support us on Patreon: https://www.patreon.com/EconomicRaven Connect with us: EconomicRaven.com facebook.com/economicraven twitter.com/economic_raven instagram.com/economicraven/ anchor.fm/economicraven
Watch the video here: https://youtu.be/vokayznHzbk
United Kingdom is the 5th largest economy in the world by GDP despite being the 78th biggest country.Made up of England, Scotland, Wales and Northern Ireland, UK is often described as one of the most globalized economies in the world.
If the world has to thank this region for one thing, that would be what’s termed as the “Industrial Revolution”. From 1759 to 1839, the ‘Industrial Revolution’ shifted humans from hand production to machines.
But, early 20th century, Germany and United States began to dare Britain’s economic lead. After the end of World War II in 1945, British Empire was again among the victorious Allies. But their lead as an economic leader had diminished.
Following the end of World War II, despite witnessing a somewhat prosperous growth in the 1950s and 1960s, the UK recorded weaker growth compared to other European countries. Lack of innovation, overseas competition, low-cost manufacturing by other countries, trade unionism, the welfare state, and the decline of the British empire were all blamed as possible reasons for this outcome. By the 1970s, they were referred to as the ‘sick man of Europe’.
The video also discusses Margret Thatcher and her neo-liberal economic policies and her actions away from socialism in the United Kingdom. The video also discusses United Kingdom’s car, aerospace and pharmaceutical industries, London’s financial and insurance services, investments, its comparisons with Germany and France. It also briefly points out the norther oil field and its differences how Norway managed its oil money. The video also discusses National Health Service, Fish n Chips, Pound currency, English language. The topic also discusses its economy and GDP during recent times with Brexit and UK leaving the European Union.
You can also check other topics on economy on our channel: https://youtube.com/playlist?list=PL64ewlzSRkI-oJ5ekMCTtLy0PJ4xxPAzw Economy of countries: https://youtube.com/playlist?list=PL64ewlzSRkI8j_Be–1Htkaae5l9iUzYD What do you think of the economic future of the United Kingdom?
#british #UnitedKingdom #brexit
Watch video here: https://youtu.be/0MWsRLHWcR8
Cryptocurrency and Bitcoin are one of the things in today’s world, that makes everyone feel a "fear of missing out". Cryptocurrency is the buzzword of our times and has been called everything from “future currency” to outright gambling, scam, a Ponzi scheme, and a bubble ready to burst. But it remains a hot topic in the news and online conversation. This makes everyone wonder if they should jump on the bandwagon, or play safe.
If you are not tech-savvy and you don’t know enough about money either, well, cryptocurrencies are a combination of both. Let’s explore what it really is.
There are literally thousands of cryptocurrencies out there like Bitcoin, Litecoin, Ripple, Ethereum, etc. These can be purchased through cryptocurrency exchanges like Coinbase, Cash App, Binance, Bitpay, etc. A cryptocurrency WALLET which is web or app-based is required to access your account.
There have been numerous people who have advised against buying cryptocurrencies including Warren Buffet who said cryptos have no value. Charlie Munger called it a "rat poison” Peter Thiel went from being a pro-crypto to wondering if it is a part of the Chinese financial weapon against the U.S. Mark Cuban highlighted similarities between cryptocurrencies and gold. Carl Ichan said he does not understand cryptocurrencies because he is too old for them. Elon Musk went from being a skeptic to allowing customers to purchase Tesla cars with bitcoin.
#cryptocurrency #bitcoin #dogecoin
Watch the video here: https://youtu.be/h8_dFMwFA4A
The economy of GERMANY is the biggest economy in Europe, and the 4th largest economy in the world by GDP, powered by Mittelstand, and has the history of rebuilding itself from square one.
The video also discusses Mittelstand businesses which are mostly family-owned private businesses, often of small size to medium range, characterized by a common set of values and operational practices. It is more like a business culture with firms having a unique way of doing things. The firms are mostly run by the ‘owner entrepreneurial families’ who are interested in the sustainability and longevity of the business. They are highly focused on the idea of doing one thing well first and diversifying internationally later. While the world keeps on praising the ‘serial entrepreneurs’, Mittelstand companies are geared by love and commitment for a product or service. Mittelstand companies are in it for the long run which makes it different from the typical public firms around the world who have to face pressure quarterly or annually to meet the financial targets. The video also discusses German's economic inclinations towards not taking debt and spending less than their means. It also discusses adoption of Euro as a currency and its impact on the country's exports. The country also has a strong vocational training program etc.
From World War 1, war reparations to Hyperinflation, from building themselves up again to the Great Depression and World War II, from rebuilding the country after the war to the reunification of the country and embracing the less economically stable half, from the eurozone crisis to the global financial crisis and Brexit, Germany has seen its fair share of troubles. BUT, it always marches forward… German efficiency is real, and its economy is no joke! Thank you for watching. We will try to reply to everyone in the comment section below.
#economy #Germany #Mittlestand
The topic of student debt forgiveness or student loan cancellation, draws opinion from economists, social activists, legislators, AND everyone on the internet! The opinion varies depending on if you think of education as an INVESTMENT or PUBLIC GOOD! The video also discusses the rising tuition costs, government's involvement in the student loan programs, universities offering programs and how some majors have no value in the job market and possible solutions to fix the student debt crisis.
College students are generally in an age group where they are particularly not accomplished to make the best decisions in life and may have never had financial responsibilities. So, first things first, how do we explain, to mostly 18 to 22 olds students, who can’t decide what to have for dinner, the possible financial risks of taking a debt? Because, before ‘Student DEBT’ is anything, it is a DEBT!
Societal pressure to get a college degree is greater than ever. Generations have been taught that higher education is a stepping stone and a ticket to future financial independence. BUT, is it the ONLY way? Believe it or not, ignorance of basic economics is the biggest reason for people demanding loan forgiveness. Because most students simply don’t understand that government has no money of their own. So let’s put it simply. Government is the handler of the money, that comes from the taxpayers. When a government prints money, it is borrowed money. And if the loan is forgiven, someone would still pay for it, which happens to be the taxpayers.
You can check more about governments printing money here: https://youtu.be/44nmnsJVfPY
We sympathize with students who have been in a situation where it has become difficult to pay off their loans. We think education is vital and we are not against it in any way. But we do believe that students should be made conscious to see the loans from an economic point of view, so they could make better financial decisions.
The video presents the opinions of both the proponents and the opponents of student loan cancellation.
You can also check other topics on economy on our channel: https://youtube.com/playlist?list=PL64ewlzSRkI-oJ5ekMCTtLy0PJ4xxPAzwEconomy of countries: https://youtube.com/playlist?list=PL64ewlzSRkI8j_Be--1Htkaae5l9iUzYD #StudentLoans #StudentDebtCrisis #college
The Economy of JAPAN saw an average annual growth rate of nine percent between 1955 to 1973 which was an economic miracle, ESPECIALLY for a war-torn country. It saw ANOTHER 4 percent average annual growth from 1973 to 1990, and this total of three-decade economic prosperity made Japan a FINANCIAL POWERHOUSE!
This era could be called a GOLDEN PERIOD in the history of Japan. The country was dominating multiple industries like automobiles, semiconductors, the entertainment industry, and the consumer electronics industry from cameras to video games, and from walkman to pocket radios. Companies in Japan were prospering, they were paying on a piece-work basis, and above all, people’s living standards were uplifted and their savings were on the rise.
Japan reached around 75% of the USA’s GDP at that time, which was ASTONISHING for a country HALF the population of the US and SMALLER than the state of California.
Japan’s growth rate was so REMARKABLE that it lead to optimistic predictions that sooner or later it will cross the economy of the United States to become THE biggest economy in the world. BUT, it didn’t happen! The country instead faced an economic crisis that put the growth to a HALT! But what went wrong???
The video also discusses The Plaza Accord, The Lost Decade, Japan's population with highest aging population while at the same time a lowest birth rate making the population shrink. It also discusses Japan's automobile industry, Keiretsu, earthquakes, employment rate, Yen currency, Japan's rising debt, its GDP to Debt ratio etc. #economy #japan #EconomicBubble
The economy of Norway is a mixed economy although some declared it as a ‘socialist heaven and others called it ‘capitalism with a conscience’. Some called it lucky due to its oil exploration and others called it smart for establishing a pension fund in the name of people funded with oil money so it can be used in future in bad times.
The country has one of the highest GDP per capita in the world following just behind Switzerland if we ignore the micro-nations. But the country wasn’t always rich like it is now. Some say that it was one of the poorest countries in Europe before the 60s, and others say that it was doing just fine, BUT, it was below average in all estimates.
The country is known for fjords, aurora lights, skiing, outdoorsy people, and the history of Vikings!
World Happiness Report shows Norway has one of the happiest people in the world. The country also has one of the highest life-expectancy-index of around 81. The country tops many international rankings, including human development index, prosperity index, ease of doing business index, freedom of press index, democracy index, etc. etc.
But how did a small fishing nation become one of the richest countries in the world??? Is it their fishing industry or oil exploration or tourism or its pension fund in the name of people?
#economy #norway #NorwayOilFund
Check out our YouTube channel for more: https://www.youtube.com/channel/UCj77H54JCFCbKTkIaLC8bRQ
Why can’t governments just print more money to pay off the country’s debt OR pay for everyone’s education OR end the poverty, OR abolish taxes, OR distribute it to make everyone rich? That would be a real example of money growing on trees! right?
By the end of this video, you will think that this question is absurd, which it is, but the question has been asked so many times by so many people, and there is nothing wrong to ask!
But before you can wish for more money printed, you have to know ‘what is money’, ‘types of money’, ‘what printing money actually means’ and ‘why happens when governments print money’.
The video will investigate how inflation and hyperinflation occurs and also the right kind of inflation. The video also discusses examples of countries like Zimbabwe printing money that resulted in devaluation of their currency and Hungary that tried to pay off debt by printing money.
#economics #inflation #hyperinflation
Economy of Switzerland is a post-industrial, highly ‘service-driven’, ‘free-market’ powered by chocolates, cheese, watches and Swiss Banks.
While Swiss people don’t flaunt their wealth, the country is often in the economic news as one of the richest in the world, and with one of the highest GDP per capita of over US $80,000.
With its unique national history and location, Switzerland has earned itself a stellar reputation in International Finance. There is more to Switzerland than luxury watch brands like Rolex, Richard Mille, and premium chocolate brands like LINDT and TOBLERONE.
Whether it comes to the high-value services, OR, trains roaming in the high altitudes carrying tourists, OR, exports of pharmaceuticals and agricultural products, OR, its notorious banks protecting your hard-earned or not so hard-earned money, Switzerland, offers TRUST like no other, making itself a financial powerhouse.
#economy #switzerland #SwissBanks
Is Sweden’s economy socialist? or is it a social democracy? Or is Sweden a capitalistic country or more like a mixed economy?
By now, you must have heard people, especially Americans, saying they do not like Capitalism. They say they have something better… Socialism!
When presented with the facts of what happened with socialism, in countries like Venezuela, and its authoritarian tendency, they say they have a new variant of socialism, called democratic socialism, that fixes this issue, and in return gives you something perfect, like a utopia, like in Scandinavian countries, like Denmark and Sweden.
A quick google search of a basic definition of Socialism goes something like this: “a political and economic theory of social organization which advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.”
On the other hand, a definition of capitalism goes something like “an economic and political system in which trade and industry of a country, are controlled by private owners for profit, rather than by the state.”
But is Sweden a socialist country? Let us dig deep into it.
#economy #sweden #socialism
The podcast discusses COVID-19 Relief Fund spending and Stimulus checks and packages by the US government in the wake of pandemic caused by Covid-19 or aka Corona virus.
The world has had to grapple with a host of unprecedented events since the novel Covid-19, known as Coronavirus, became a thing. One could even say the Coronavirus made the world stop spinning.
The harshness of the lockdown protocols that attended the coronavirus pandemic on the global economy has been particularly brutal in the United States of America.
Most states in the Union have had to shut down economic activities for a long spell. And one can only imagine the devastation small businesses, especially in the hospitality industry, have been experiencing since the pandemic started.
Against this backdrop, some argue that the measures deployed to protect citizens from the pandemic have proven to be more disastrous than the pandemic itself.
Some believe the lockdown was the absolute preventive measure against the virus. And it bought the medical workers enough time to tackle the situation in a better way.
On the other hand, some national stakeholders view the harm from a constitutional angle. They argue that the lockdowns only represent an indirect move by ‘Big Government’ to create a generation of dependent citizens, using unconstitutional policies as a vehicle.
What you make of these arguments notwithstanding, no one can reasonably dispute the fact that restrictions on movement, to control the virus, has contributed to the number of people who expect the government to come through with some relief money. That’s where the “Covid-19 Relief Bill” came into being.
#economics #CovidReliefFund #Stimulus