The Rather Pathetic Economy of Russia | Economics Explained
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- Опубликовано: 17 мар 2022
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I thought the video would be about can they economically afford to carry on this war, Instead we got a history lesson on how their economy got to this point. I’ve been bamboozled
"Most consequential conflict of this century."
"the most consequential conflict of this century" oh boy, just you wait and see
Certainly! I understand that living expenses and taxes can take up a significant portion of one's income in the UK, which can limit how far that income can go. Even 100k doesn't get you very far and the dream of retiring early is starting to seem like a fairy tale. I have roughly $200,000 in 401(k) that I need to grow quickly. Please leave a comment if you can help.
For this to be the most consequential conflict of this century I think we'd either have to be very lucky or very unlucky.
In a similar fashion to the 1 Ruble being the same size as a 5 Swiss franc coin, the British 2p coin was the same size as the Belgium 20 Franc coin (maybe 40, it was a long time ago), which made arcade games very cheap for me whilst I was on Holiday there as a kid in the early 90s :)
It's funny how in the mix of other abandoned and damaged building, the one at
The thumbnail reads : Can Russia still afford to fight. One year later, this didn't age well 😀
Some countries rushed to privatize faster than others. In east Germany the Treuhand quickly became the most hated institution. In Czechia the Budvar brewery is still state-owned to this day, even though Anheuser-Busch would love to buy it and secure worldwide rights to the Budweiser trademarks, but they're not selling because it's consistently run at a profit to taxpayers.
The shock therapy in Russia was very brutal. China didn't follow this path, opened up gradually, with many trials and errors, and succeeded. The 90s was a decade in which life spans in Russia decreased dramatically, the highest decline of any peacetime region. If you want to understand current revanchist politics in Russia today, look to this tragedy.
8:25
I am a swiss and non communist, however, I think the primary sector of ressource production, mainly mining, gas, oil, as well as infrastructure like road networks, busses and trains and electricity as well as telecom should be state owned and operating under the motto of breaking even, not gain maximising orientated.
Another thing Russia does have going for it despite having a low GDP per capita and high inequality is the high home ownership rate. Like All former Communist nations, well over 85 percent of Russians own their home(Most of the 15 percent are temporary migrants from Central Asia who btw are also home owners in their home countries too).While property taxes exist, they are very low given how low the value of Russian apartments especially, is. As such, even with low wages, Russians generally do not have to worry about rent or rising property prices the way Americans and Canadians especially have to.
Many people understand that governments are really bad at running businesses, but few appreciate that they are equally bad at selling them.
11 months have passed and the answear is YES
So 1 year in a review is needed: 8th largest economy as of 2022, projected gdp growth a bit shy of 2%
Can’t wait for the “Sovereign wealth fund and how their more powerful than banks” ep ,a nice discussion to distract from the perils of the world.
15:00
It is now a year later - care to update this?
To answer your question from 11 months ago yes.