Productivity and Growth: Crash Course Economics #6
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Date: 2022-04-04
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Comments and reviews: 10
Zohirul
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.
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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.
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Ayoub
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.
reply
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.
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Aurelian
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!
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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!
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ahmed
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!
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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!
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Joe
The issue i have with understanding productivity is the variation in cost of labour. Im from a eastern european country where employers will pay, lets say 5-/h for skilled labour, and they state that they wont pay more because of -low productivity-, yet when the same person does the same work 15-/h in the Netherlands or the UK, suddenly their productivity is higher?
Most of the time the end product or service costs the same or even more in the EE country. So where does the productivity go.
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The issue i have with understanding productivity is the variation in cost of labour. Im from a eastern european country where employers will pay, lets say 5-/h for skilled labour, and they state that they wont pay more because of -low productivity-, yet when the same person does the same work 15-/h in the Netherlands or the UK, suddenly their productivity is higher?
Most of the time the end product or service costs the same or even more in the EE country. So where does the productivity go.
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Ron
Your ability as a nation to project power is a BIG deal and protects you from corporate exploitation. At the end of the day the lowest common denominator is the use of violence. If zimbabway was a nuclear power and had a modern military they could mine their rare earths and produce without forgine powers coming in and getting cheap stuff due to the lack of power of the locals.
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Your ability as a nation to project power is a BIG deal and protects you from corporate exploitation. At the end of the day the lowest common denominator is the use of violence. If zimbabway was a nuclear power and had a modern military they could mine their rare earths and produce without forgine powers coming in and getting cheap stuff due to the lack of power of the locals.
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Marco
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.
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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.
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0mfug1
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.
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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.
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Aravind
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.
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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.
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Curtis
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.
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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.
reply
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