The Economy of Italy
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Once the seat of the Roman Empire, Italy is now home to a surprisingly robust yet temperamental economy.
The economy of Italy followed a path very similar to that of Germany's, albeit, with a little more flamboyancy which has found them where they are today.
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📚 Want to learn more about the economy of Italy? We recommend reading "Saving Italy: The Race to Rescue a Nation's Treasures from the Nazis" by Robert Edsel
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Economics of fifa and big sports like NFL please
Hi, can you do a video for Bulgaria?
Maybe an updated version given the Corona impact on Italy might be prudent
Can you start listing your references please. If you're going to misinform your American audience atleast provide your sources because your videos are highly inaccurate.
Aranielle B can you give examples?
Ah yes, Italy's most distinctive music composition "Eine kleine Nachtmusik".
@@lebowski_dude I think northern Italy was part of that state that was neither Holy, nor Roman and not really an Empire.
@@tylerdurden3722 Lol. I love that one. Here's another funny one, Palm Cabbage Lettuce is not a palm tree, nor a cabbage plant, nor a lettuce plant
@@Saifyrooma2nd if a Coconut nut is not a nut...then what the hell is a coco nut?
Tyler Durden It’s a coco fruit from the coco tree from the coco palm family!
hopefully it was a joke rather than him googling 'classical music' and picking the first result
13:42"The south is more agrarian, with fewer cities and more countryside" Shows a picture of the dolomites mountains in the northernmost region (Trentino)
Actar ahahah exactly
Ahahawhwwh I noticed that too
Not to mention Südtirol is Austrian
@@erichhartmann6926 sudtirol is italian.....
@@erichhartmann6926 stfu
As an italian i really felt the part about needing to stop changing the goverment every 2 years
Leonardo David 28 no sarebbe un suicidio, serve un governo costante, se ogni anno il governo annulla le cose fatte dal governo precedente non si va da nessuna parte
@@Luca-ok6sw vallo a dire ai Romani
Belarus 26 years
Then w3 need to stop allowing the party members to change party after they get into the parliament. If you leave your party then you resign your position. That is how you get 5 year governments
@@salvo5108 The problem is our constitution was made to do one thing and one thing only: prevent the reformation of a strong fascist style government at all costs. Well, let's just say it has proven exceedingly successful.
Next episode should be "the economy of economy explained: how much do i pay for stock videos".
We want this to happen!
I cracked up at the stock footage of adults putting their hands together
I was literally thinking this the whole 4 minutes I watched this video for.
I wouldn't be surprised if he uses a program to automatically add stock footage to a podcast :)
Yes please
Italian here. Just adding a few comments (love theese videos btw) During the cold war Italy was on the forefront of the iron courtain, the italian comunist party was the biggest of the western world with the most money given by USSR. The Gladio thing was the american counterpart. The elephant in the room here are the MAFIA and corruption. Mafia had and has strong ties with many high political figures (was also tied to Gladio and other connected entities like P2 masonry lodge) this lead not only to a huge tax evasion and instability. It has also cemented a dirigent class based not on merit but on nepotism both in politics and in business (case and point the Benetton family that through controlling a lot of newspapers through its publicity got the licence to run the highway road network, rising prices and not doing manteinance in order to get billions for free)
How bad is the quarantine over there ? You probably get that alot recently..but there seems to be a blind paranoia on people in different countries...so please give your perspective on it
@@munemshahariar2503 Basically we stay home, supermarkets and some other shops are open but only a few people at the times can enter a shop (to keep the distance) a lot of people are wearing masks and gloves. I also volunteer on the ambulance, and the EM hospital is a lot emptier both because a lot of people went there for trivial matters and don't go there unless it is necessary now, and because the hospital new policy is to fix and send people home as soon as possible when they can
horophim i see...the blind paranoia aside...it is manageable? Certainly not as sensationalized/fear mongered as some reddit posts have made it out to be
@@munemshahariar2503 I'm defenetly grateful of being in Italy and for once under an able bodied prime minister instead of many others nations (I dread of what will happen in the USA for istance) the situation is still under control and the measures are mostly concerned on dealying the spread not to overwhelm the healthcare system (expecially the ICU) It's going to be bad for the economy, expecially tourism but by using hard mesures now we hope to have it easier later on
horophim thank you for the information....this helped
If anyone is wondering why he’s not saying the Coronavirus it’s because KZhead is stupid.
can you explain?
@@soundwave3353 The video doesn't make money (Gets demonetized) because KZhead doesn't want people uploading coronavirus to make money.
Captain Planet he lose money
And you are not helping
The Wexicano - explanation in two words: SCARED ADVERTISERS. Add to that AMBIVALENT ALPHABET (owners of YT) and you have CLUSTERF**K.
“Economy of Italy” - shows Hungarian flag upside down. Good start, guys.
Iran
@@hivaladeen4892 you ran?
It seems to me this guy is better just listened to rather than watched. Besides, all this cringe-inducing footage of people doing the things he just talks about makes me feel like I'm a preschooler being lectured.
Leonardo David 28 “Iran” -> “I ran” then Arok asks if he ran. Geddit? 🙃 Aladeen wrote Iran because the flag was very similar to the Iranian flag.
@@arokjuata3365 underrated comment ahaha
Video idea: how ecology impacts the economy. Like how the Amazon impacts Brazil, or how national parks impact the economy
Generally in his videos if there's something like that (among other natural resources) he'll include it if he does an "Economy of Brazil" video.
I second this. Ecological impact is more important to the economy than often said
perhaps a video focusing on specific ecological features and their impact on local and global economies
@@lain7758 its because theres too many dummies who say shit like "my country" nationalism is gey
@@lain7758 saying 'im italiano' and 'my country' has different connotation. totally get you're prolly ESOL but now you know
Plays Austrian music while talking about Italy. Sigh....
Who cares it's European
@@Tu51ndBl4d3 Are there really people out there who think there is a "European culture" ? I mean, that would be nice and cool, a stronger EU would help everyone, but sorry to break it to you bud. Spain has nothing to do with Italy, the Balkans hate each other, Germany is nothing like Poland and Lithuania isn't even comparable to France...
@@Chrissy717 Well said!
Drew R Good aircraft taste
Back when Austria owned northern Italy lol
Showing the hot-air balloon in the air when you mentioned “high inflation” was genius.
Oh, you are alive ?
Thanks um Saddam Hussein
Pretty accurate video. I must disagree on the fact that Italian economy is based on big businesses. It it mainly composed of small and medium businesses. Italy had 7 different prime ministers in the last decade mainly because of the constitutional instability of the government. As you correctly said rad tape, internal inequalities, lack of innovation and rigid business mentality constitute significant issues but many others should be mentioned.
And 20 years of punches in the face; we still the best and this crises happening ones is over we gonna flourish more then others
I was scrolling through the comments while the video was starting and I came across this one: if he said that Italian economy is based on Big businesses, then I should not waste 15 mins of my time. This is a failure of understanding your subject matter of the most basic level. 3/10
@@xzn1989 Exactly. Actually, one could actually go as far as saying that one of Italy's major problems is the almost complete lack of big businesses, unlike countries like Japan, Germany, the US and South Korea.
@@SorenToKeiran-Murasaki lack of big business is the real deal for italy, there are a tons of very small and medium size companies
@@italianadventurer1157 Appunto: troppe imprese piccole e medie e troppo poche aziende grandi.
3:49 Did you say Japan and East Germany? Wasn't it supposed to be West Germany?
Yeah i feel like he meant to say west Germany
He was, he even showed Frankfurt at the Main river
Oh East, I thought you said Weast.
"Yes, that's what we wanted you to think!"
I have invested few times in Italy in some high growth, high technology content, niche sectors, both in the North and in the south of the country and i have been making a steady good return on my investments. I will keep investing in the country. Italy works well for me and my pocket.
Thank you!
@Zerevv i have been investing in both listed and non listed companies. Ever since i have chosen an Italian wealth manager i have been given an unprecedented insight about the country´s hidden opportunities, which i had never received or at least to the same extent by foreign wealth managers. I believe, that this applies to every country. Whenever, you want to invest somewhere around the world always look for a local.
@Zerevv I only advise you to look for a local wealth manager wherever you want to invest to.
I was waiting for the Bitcoin plug and 10 bots talking to eachother who all somehow know the genius me Greg or someone who helped them make ££££
Hey teach us how to invest in Italy, maybe with a video
Imo Italy would be the wealthiest nation on Europe if it wasn't for the rampant corruption and nepotism in business and government. A great potential that is wasted by, as you said, "this is how we've always done it" mentality and no drive to change the status quo
I'm italian and I'm sick with all of this. Whoever goes in power gets corrupted and nothing really changes
"this is how we've always done it": this sounds so italian. It's something i hear since i have memory. However it might be connected with the fact that we're the second oldest country in the world AND, most importantly, the vast majority of wealth and power belongs to people older than 60, and older people are way way less innovation-oriented.
Corruption and nepotism is kinda everywhere, the main 2 problems here in Italy are 1) terrible slow and frustrating bureaucracy and 2) terribly slow justice process in courts. Those 2 are the main causes why businesses and investments don't thrive here.
But off course why change things if there is Germany too blame for all the problems
World politician are corrupt. BUT Who else has 5 stars party??
Italy may have the biggest public debt, but it also has the smallest private debt. That means italians own their country. The state is in bankrupt, but italians are doing just fine. The vaste majority of familes owns at least one house and don't struggle that much economically. That is a huge game changer in today's world and economy.
true
Are you italian?
That is because italians have an old mentality of "leaving permament things" to their kids, usually a land and an home, it's not us being so rich that we can buy multiple houses rather our grandparents made their home and passed it to their sons who later passed it to their own kids. This is for two cultural reasons that go back to historical reasons: distrust and adaptability: you may not have money or a job but you'll never have to worry about a roof for you and your family, money's value can change abruptly and, like gold, it can be robbed, banks can't be trusted to keep them because they could not give them back for whatever reasons so what does it leave? Flats. An home. jewels are something passed on from generation to generation but the true legacy is the house. House that the sons (or daughters obvl) will later decide to keep and live in or to sell it (usually only if they want to live else away)
It also means the hope off a good stable goverment looks slim. The state is in trouble and who but teh taxpayers will have to cough up teh money?
@@areswalker5647 That's a solid approach to life, definitely my plan for the distant future.
A+ for timing, just follow it up with "Economy of Spain" and "Economy of France" to get KZhead algos attention :)
Even more Spain didn't have a Marshall plan, plus a 40 years dictatorship.
Nothing like exploiting the spotlight of dead Italians due to coronavirus to make an economics video!
@@pygmalioninvenus6057 its the way of the Gods
Davie Donna Sure,y it is coincidental
At the start of the video:"now home to a surprisingly robust economy" Me (italian): **sticks head out of green screen** are you sure about that?
By Robust, he means it can take a lot of hard hits and somehow still survive. No one can deny that Italy's economy has taken some really hard hits Yet, miraculously, it's somehow still chugging along.
as bad as the italian economy can look. It still is a developed first world country, miles ahead of africa, latin america and most of asia
@@Orzach221 yes, but it was headding down steaply before the corona, especialy with unemploiment and homlessnes
I once heard it's to big to fail und to big to save (by other countries)
Never knew Mozart was Italian...
קריסטינה קניג Pearl Jam was busy
אוהבת לראות שמות בעברית - מאיטלקייה יהודיה
The more you know. One never stops learning 🤙
Mozzarti was shortened.
I find it weird how he didn't even mention mafia. Like, that's one of the biggest reasons why southern Italy is so far behind the north
He's busy painting it as capitalism vs communism propaganda
@Águila701 yes but in the south the houses, the higway , the publics job and all the think that make money are in the hands off different mafia
@Águila701 aaa okey
That's racial
@@thebeautifulones5436 ?
At the end of WW2, Italy was wealthier than Germany. Both countries underwent rapid industrialisation but: 1) Italy suffers badly from governmental corruption - Germany's government is generally stable. 2) Italy suffers badly from organised crime - Germany is relatively corruption-free. 3) Italy suffers badly from red tape - Germany is quite pragmatic and clear cut. 4) Italy suffers badly from tax evasion - Germany is good at collecting its taxes. If Italy were to address its internal issues, then the external issues would affect it much less.
yes, pretty much
Set low taxes and nobody evades.
@@mikehoot3978 i dont think u know many italians
@@SoYFooD2 I know several Italians, but it is indistinct. I live in Argentina, the paradise for the statists, nobody has more taxes than us(more than 170). The informal economy is over 40%. Still, if taxes were few and low, very few people would evade. It's simple logic, and it has already happened. Argentina was more liberal(classic liberalism) than the US in the late 19th and early 20th century. With that low taxation it built trains all over the country, one of the most beautiful theatres in the world such as "Teatro Colón"(search it on google) and a multitude of high quality infrastructure. The economy is incentives. The higher the taxes, the greater the evasion and degrowth. The lower the taxes, no need to evade and growth is generated.
Germany is the home of thousands of small and medium enterprises, (known as mittlestand if I'm not wrong). In case of Italy, I think the economy is totally reliant on large enterprises only.
Italys median household has three times the wealth of a german household. german companies have most of germanys wealth. in a long term crisis, italy is more resilient.
Very interesting comment that is rarely brought up. Perhaps other western countries are similar to this. My country Australia definitely is. Family orientated countries like Italy seem to have some economic and political problems that we don't have but at least the people have wealth lol
this is so true. Germans actually live relatively frugally
CertainDeath777 What he doesn’t mention and I’m not surprised, is that Italy happens to be the wealthiest nation in the world if we account for possessions and assets even though like Greece, they’re always being screwed over.
@@funDAYsmiling thats what you get, when you let companies decide politics and make ratings. They say german overcapitalized model good, italian bad. but if your country is in crysis, your mega company will bail out. your family and neighbours will stay and share ressources. and trust me. the future decades will evolve into a series of ever stronger crisises.
But the comparison of wealth in Germany and Italy is mainly a difference between home owning and renting. The average person in a country is of course richer if he owns his house, but this is very rare in Germany. On the other hand Germans are good at saving money but are unable to use this for building wealth. The result of this is that the most german households have all their money on bank and saving accounts, or buying houses (but only if they earn really good). But for the average German stocks are evil (to be honest is a result of the problem that the german stockmarkets always crashes after the Germans begun to buy stocks) and this ends in the problem that the average German only become wealthy if he founds a own company (something that the most Germans fear). Furthermore we tend to be very frugal and have a tendency to work for less money if this results in more jobsafety. This is also a reason why the german companies are so wealthy.
don't say the C-word or else you'll face the wrath of S U S A N.
@Gaius Marius S U S A N DOES NOT LIKE PANIC, BUT WILL GLADLY GIVE MONEY TO TALK SHOW HOSTS BECAUSE FUCK ORGANIC CONTENT CREATORS.
Cor*na virus
C-connie?
@@british-canadianmapping1757 plebianss are not allowed to use that word only trusted news channels are allowed to use it like jimmy kimmell.
and also monetized for $$$
Your video got really better recently. The description of the economy of my nation with its bad and good sides was very good .
Economy of British empire Economy of Indonesia Economy of Iraq Economy of ottoman empire
Indonesia and malysia could be nice to watch
The economy of Nigeria, Rwanda and Brazil.
British Empire ? This is not a History site it does current economies only.
John Smith it did Soviet Union
@@Crashed131963 well, if it does? why the "economy of Dutch East Indies" exists?
I love how you link geopolitics, secret action (like the Gladio network), history and macroeconomics in a single topic. Keep the amazing work, mate! And if you want to have a heart attack you should talk about Argentina.
of course he does , since those subjects are the same thing
The flag in the thumbnail is the flag of Iran not Italy… not just the direction (since you could have turned it), but the green is a different shade
that's the correct green, i mean, it's green... It's the horizontal stripes that are really really wrong
Hungarian flag has the green on the bottom. Source: I'm hungarian
Richard Vasas changed it to Iran as you’re right I was thinking upside down, but I feel like this isn’t the correct shade of green for Iran either, which is more similar to Italy. Hungary uses a darker green than almost any other country with green in their flag
As an italian, it seems an italian flag hold orizzontally to me
you’re right but like shut up
Please do a video about Spain! I think it has a similar economy to Greece or Italy (regarding instability, debt, etc.) but I think it would be a good idea to analyze its major industries and its dependency on tourism (and the problems that the decline due to the well-known disease can cause, like in Italy).
It really is remarkable how similarly these nations have developed in line with one another... It's almost as if running an economy on inflation destroys the incentive to invest in the next generation!
20 seconds in and we have footage of a Hit and Run in the Venetian Canals lol.
That's crazy you noticed that
Can you link the exact moment? I can't find it
@@matteogirelli1023 at 18 seconds but i dont think the boat actually made contact with the docked one
doja it doesn’t seems to make a contact, I think it only get really close
I'm a huge fan of Archer and always knew it was a well written and researched show, but I didn't know they went to this degree of research and detail good god!
Thanks for reminding me how good Archer was! Need to watch it again when they finally get around to finishing the actual main story
Thanks for mentioning "easy street". Now that song is back in my head >:-|
perfect timing edit: EE, do you have any future idea on the "Repo Markets" ? thanks.
I love these videos!!! Never stop, keep going even if you have to produce remakes.
A long-awaited video, thank you!
3:50 you meant west germany, right ?
Great videos, but you forgot to mention Italy's biggest business: organized crime, estimated at 150 B€
Se soltanto quei soldi potessero entrare nelle tasche della nazione saremmo più forti della Germania economicamente
@@frafrafrafrafra in realtà parte di quei soldi entrano, almeno 4 miliardi di euro stimati. Questo grazie al riciclo del denaro da parte della criminalità organizzata.
@@silverskull7669 bene, adesso ci servono gli altri 146 miliardi e siamo apposto
I'm italian and I think you did a very nice work to explain our economy. Nice video👌❤️
I just wanna say, early in this video you said that you don't need to explain certain things to people watching an economics video. Well I actually consider myself completely ignorant of economics so I guess I miss out on some of the common knowledge most of your viewers have. Though admittedly I understand a lot more than I did because your videos have been very interesting and informative even for someone with no prior interest. Well done again on another good video, I look forward to seeing more ^.^
Darth Vadar: The stock footage is strong with this one. Obiwan: Yes, I was once a youtuber, the same as you podcasters.
The endless stock footage was actually pretty annoying
0:16 the guy in that boat nearly took out the stationary boat lol.
in venice it just works liek that, just millimiters to separe different boats and the bigger wins every time
Great content. Keep up the good work I was wondering where youre from
Great video! Please consider doing a similar video for Spain, in light of the word-that-shall-not-be-mentioned, which is about to hit this place like a train. A factor you might also want to look at is the impact of the massive jobs-for-life civil service, which is a major drag factor in Spain, France, and Italy too, with its culture of work-for-the-sake-of-work-to-retain-jobs.
Wrong flag, wrong music, great start.
It’s the Italian flag turned sideways so right flag
kinda wish you'd go a little bit more into the history of Italian economy considering Italian unification only happened in the 19th century and and that "wealth gradient" you mentioned following the pre-unification states so its worth exploring why.
Hey! È stato come un regalo di compleanno. Sentire parlare di un'economia che finalmente conosco bene mi ha dato un'idea di quale sia il tasso di fedeltà dei tuoi video, e devo dire che ci sta, per essere un quarto d'ora, il riassunto è stato efficace. Il fatto è che l'Italia è un calderone di risorse e problemi vecchi e nuovi, un groviglio di difficilissima risoluzione, il che forse ne spiega l'instabilità governativa. Ottimo lavoro, e buona fortuna per il canale. Hey! This was like a birthday gift. Hearing about an economy that I know well has given me an idea of the level of adherence to the truth of your videos, and I have to say it was a pretty good summary for a 15 minutes video. The fact is, Italy is a boiling pot of resources and old and new problems, a very tangled mess of difficult resolution, which partly explains its governmental instability. Very good job, keep on doing these.
Yo keep up the good work I need more from this channel
It should be noted that one of the biggest issue of Italy is the use of public money: this has been a long time issue for the nation, born of political leaders who realized they could burn money for votes quite effectively. Public jobs in Italy are cushy, well payed, short hours and with amazing workers protections, and this is reinglforced in all public areas, both national, regional and local. This is a way to attract public workers as voters and political capital. And along the last 30ish years this practice has become more and more common in the nation, already plagues by an extremely high tax rate and inefficent tax collection, the collected taxes are redirected with every new coalition to satiate this or that interest group, pushing people into pensions for billions of euros, injecting money in popular companies, even with direct handouts or with constant subsidies of sectors. And voters love it, as populist leaders keep repeating this while lying through their teeth and as long as at lest enough voters keep getting their share, they keep voting them
"5 govenment changes in 10 years, nice try" - Australia
Ryan Hatfield Yes, but actually no. The coalition is still the coalition, no matter who the nominal leader is. At least since 2012 at least.
Belgium: you guys have a government?!
We don’t remember how fell elect a Prime Minister
I not long ago discovered Clarke and Dawe. Brilliant duo.
Brilliant, already subscribed., fantastic-stuff (shame I didn't see this years ago) :)
Corona virus has become the Lord Voldemort of our times , as "he who must not be named" syncs
At the start I was very cofused: I have see images of german bundestag and listened austrian baroque music.
Thankyou for uploading early i have no one to watch usually until lunch
i loved italy. was there in the mid to late 70's. you did have to look out for the red brigade, but overall it was fun
12:58 it's funny seeing them fighting when I've already seen the footage of them becoming homies
I, giorno giovanna has become the pillar of Italy's economy
man becoming a pillar? like some sort of pillar-man?
Ayy ayyy ayy ayyyyyy
@@fs5866 AWAKEN MY MASTERS
CONO DIO DA!!!
Love the vids keep them coming!
Are you going to do one of this for every country? if so, awesome!
Italy used all her *great nation points* on the Roman Empire, smh.
Too much attention on the early to mid game with no heed for the late game. Shame, really.
@@binarekoharijanto4586 Is it turkey
Justinian gained a lot of Great Nation Points and could've made it the #1 on the leaderboard again. But the guys playing the ostrogoths and sassanids fucked over his playthrough. Not to mention the Black Death random event
Italians have been banking on empty ego and history for years. It’s about time the chickens come home to roost.
Meatball McFall Justinian ruled Byzantine and modern day turkey not really Italy also Justinian would be considered ethnically Croatian not Italian so he was already doomed from the start
Do a video about Spain's Economy please!
Un bel video! Molto interessante. The only thing missing is to also mention the role organized crime plays in the south, particularly in the field of infrastructure projects which tend to spur economic development and investment. Road projects in my native Calabria, per esempio, often get started but then go unfinished for years (if they ever get finished)
Don’t sell yourself short my good man. I’m not an economist but a humble artist and I love your videos. Maybe I should have taken a few courses on macro economics.
Could you please make a video about the economy of the Roman Empire
Roman empire when ? If it would exist today ? During its golden age ? Or after the 3rth century crisis ?
@@darthsidious4894 about 100 abc
It's something interesting when you realize that the wealthier areas or always in the colder regions of any given country. Italy is a good example since the wealthier areas are in the northern part where its colder.
Veowolf I mean in the Uk it is the opposite, so I think is more a temperature range where humans tend to be more efficient
@s1 I wouldn't call greece a wealthy country and china plays to my theory that the more tropical the climate the less industrial it is. Seeing as China is a has warm climates that are wealthy is mostly because they dont care about preservation and tourism as much. What I mean by what I said is that tropical areas make people want to go into tourism which tourism has its limits. While in colder regions people really dont care and industrialize.
@@Luisp1992 This theory doesn't really make sense and in Italy the wealth discrepancy is due to historical reasons and mismanagement after the unification.Not because the north is colder.
@@maxibon2129 all because it's a theory doesn't mean I'm right
@@Luisp1992 Yeah i'm sorry if i was a bit aggressive it's just that it's never that simple lol, also gotta flex that history knowledge
I swear the intro music on your videos get more classical every time you upload a new video
I have moved to Italy this year to pursue higher studies. So this video peaked my interest. Good job.
Thanks for contributing to our national economy! Sorely needed.
Having an economy that is based on exporting cheap goods suddenly joining a union and adopting its currency which is stronger than its own isn't going to help things.
We don't export economic shit my bro
@@marcomolinari8354 Italy used to be the go-to cheap goods exporter way before China, Japan and SK.
@@marcomolinari8354 we don't export now, but we had a times before joining the eu a higher gdp than the uk. Living conditions have slightly improved, that's true, bit most things went downhill from there
@@reyxus9454 bro we (italian) have a commerciap surplis of 4.5 bilions
Exporting CHEAP goods? Really?
Is Italy out of luck? All the toilet paper certainly is
We have bidets
@@tesseygo Backwash redefined.
Have a look at the Aussie 's assault at toilet paper in the Supermarket.....
We have bidets in here, you bastards!
we use the bide the proper one not that thing you attach to the toilet
I like the way you say Italy, very pleasant to the eat
Do one on France please! Love the content!
I find it staggering that a video on the economics of Italy doesn't mention corruption or the Mafia!!!
If you watch all these videos about the economy of the countries, you will notice that they don't mention corruption at all. If ever they mentioned it, they mentioned it just in passing and never really focused on it.
Mafia isn't just an Italian problem, and italy's not THAT corrupted at all
You forgot mentioning that here in Italy bureaucracy lasts endless times and it's complicated too, so starting and developing a new business is not that easy, that is due again to government inefficiency.
Essatamente fratello. Italy needs economic freedom and less bureaucracy. It will take off immediately.
Please do the economics of Spain. Love your videos.
A video about the economical impact of Corona Virus would be really interesting. #suggestion
He's already done that. I think it was called the economy of disasters. He can't be specific about coronavirus or else he'll be demonatised
It might be interesting to talk about a different kind of stagflation: the kind that North America has had since the 80's where wages stagnate despite fairly low unemployment.
Could you do a "The economy of France" ?
I would say it's almost the same as Economy of Italy, but on streroïds...
@@kolerick Well, that's not really what I would call an economic review ahah.
Thanks for the nice presentation, one day i would like you to do some thing on small business scale problem.
Having lived in Italy for years, your analysis is not so bad, The country's balance sheet may be shot but the current account is always positive. In other words, its a cash-positive economy and very liquid. Italians do not have a debt culture like the UK or the USA (or even Australia), they actually save. So, if we can address the musical chairs of changing the government and encourage entrepreneurialism - the young people here are very talented - then the future will look bright.
Wow, this economy looks *SICK*!
After being to Italy and a lot of developing countries, it's hard not to notice a lot of similarities.
Italy is a developed country and has a diversified economy.. it isn’t a developing country. I mean is in G7
Italy is a developed country but so is Greece and Poland and Russia. So.. yeah
You should do a video on the great recession and how it happened
Well-nigh accurate analysis, I think you didn't mention two major problems of my country: - corruption and clientelism; - poor investments in education. If our governments took proper care of our education system and made it functional to the needs of 21st century labour market, we would probably enter a virtuous circle for regrowth.
Thank you for covering Italian Economy... and good job at it! You covered all the major strong and critical points of our economy and even told me some things I wasn't aware of :) The only detail that I would add to the video is about our humongous debt and tax evasion: our debt has been mostly created during the 'lead years' (roughly from '70 to '90) because governments at that time kept overspending and running the printing machine despite economic stagnation. Nowadays this unfortunately causes very small space of maneuvering to any government that takes power... and unfortunately very very few lawmakers actively want to fight tax evasion, which in my opinion would be the fundamental part of a long-term solution. So many Italians have become so used to small petty tax evasion that this kind of policy is very unpopular... which is of course RIDICULOUS because tax evasion benefits richest people the most, but it's not easy to change a mindset that has been around for 40+ years.
Italy is a sleeping giant
In 1994 was the 3rd world economy for a very small period. Ahead of the UK, france and Germany. Only behind the US and Japan. It didn't last long tho. The potential is great, the administration couldn't be worse.
@@massimilianoferrari7860 it.wikipedia.org/wiki/Sorpasso_(economia) 1991, quello del 94 non compare.
@@massimilianoferrari7860 Sí invece in quanto a PIL, è stata di fronte alla Francia per 2 anni e per pochi mesi di fronte all Germania, sono dati storici, non lo dico io.
@@massimilianoferrari7860 sulla Germania hai forse ragione, ecco l'articolo micidial.it/wp-content/uploads/2017/01/quartapotenza.jpg
@@_DD_15 pensa che prima dell'unità d'italia il regno delle due sicile era una superpotenza mondiale. Ora quello che era una potenza è diventato una monnezza
It's amazing how much of a predictor of welth and growth the ease of doing business index is. I see it as a basic guide, or a instructions manuals for politicians to follow if they want to see their country grow. Too bad politics and heterodox economic policies go hand in hand in most places.
12:41 Random scene from Finland lol, the piece of paper says "Muistithan vaalileiman" which translates to "Make sure you didn't forget the seal" and the same in Swedish beneath it.
You kind of forgot to mention why the USA's stimulus only resulted in success in 2 and an half countries out of three. Italy's politics was divided between the Leftists and the we're-more-communism-than-communist-china-but-we-actually-aren't-because-we-are-christian Christian Democrats. The two actually collaborated because neither wanted the US instigated civil war that would certainly happen if the communists were to win elections (not that the US didn't try anyway, having founded coups and neonazi terrorists during the Years of Lead), and as such Italy settled on a mixed economic policy.
mixed economy built by fascism before the ‘liberators’ came with their bombs
"this is how we've always done it". This really hit me. There are many unresolved issues in my country that are being totally glossed over by the media, but to me our stagnant mentality is the biggest one. Everything is rigid and nothing really changes around here, as if time were frozen. Whenever something new arrives, and new ideas begin to spread, we immediatly mock them, and dismiss them, defending the status quo. Innovation is seen with suspicion, because we believe tradition defines our identity and that's what we are accustomed to. "so, you're using mechanized machinery to produce food and harvest crops? You're a monster! Didn't you know that pasta was originally handmade by our great grand parents? Pay some respect!" "Oh, you have found a new, cleaner way to produce steel? Don't you care about the thousands of factory workers who would have to change jobs and learn new skills? They already have to fight the cancer they got because of how steel is already made, don't put this on them too!“ There is even a common saying that addresses that, it says that "it was better when times were worse". It really is a passive, resigned perspective, and we as a nation choose to accept our problems, to suffer and do nothing about it, rather than try and fix them. And finally, we justify our laziness by saying that if we resolved our issues, it wouldn't feel like our home anymore, and we couldn't feel special by complaining about how bad things are, and how smart we are by knowing that things are bad and doing nothing about it. I kid you not, lamenting bad infrastructure, corruption, criminal politics (and bad soccer) in everyday chitchats is a national sport in Italy. This ranting that I'm writing is proof of that. I have seen strangers bond in pubs over ignorant comments about how mental our fiscal policy and bureaucracy are and how bridges and homes and schools and hospitals are falling apart. I really hate this place. But the pizza is also good, so... Tough decision
@dnpe86 Exactly. I remember that when we had an exchange student from the US, he actually told me that he used to have a part time job and that he quit so he could come to Italy. He said it wasn't even the first time he quit a job to travel, and that he had previously worked in five or six different places. It blew my mind. Here something like that is unthinkable. You found a job? It better be the one because you ain't getting another one, or at least it gets harder to find new employment. My grandpa had only one job. My mom had a part time job in college and now a full time job that she never changed. I have two friends who already work, and it feels like they believe this is what they'll be doing for the rest of their lives.
Great Video :-) Could you the the Economy of Czech rep or Slovakia ?
This is a fantastic video.
I love your videos! They're amazing! May I suggest doing a video on factors that contribute to economic success of entrepreneurially savvy minorities? Jews in the West Overseas Chinese in SE Asia Indians in East Africa Lebanese in West Africa Keep up the great videos!
"Macroeconomic Infinity Stones" And Coronavirus is the snap
Economics of the "sicknesses that cannot be named" next pls
what were the sources you used in making this video? I'm making a uni project about Italy
You have to at least mention Italy's Mafia problem, affecting the economy, life, and politics - particularly in the south if I'm not mistaken. 'Gomorra' is a film about this
Yes. Mafia is in the South.
@@DavideGobbicchi It is strong there but it's been some decades that it started moving to the wealthier North. The guy in the video should have mentioned North South gap and, as a cause of it, mafia. But no, let's americanize everything
Italy, we love you!!!🌈🌈🌈
Very cool. Could you also explore the economies of Brazil and Canada
Very good video!
12:41 The Italian Republic has had 71 governments in its 74 years of existence. The problem with the modern ones is that as Parliament was gradually stripped of its power and transformed into a mere yes-men for the government, the falling of one has become synonym with either anticipated elections or technical governments. In the past instead the same parties of the old government could just make a new one, and nothing would change as Parliament was the organ which held most of the power.
Maybe Japan to an extent but Italy's nothing like Germany. (West) Germany hasn't gone through a life-shattering economic crisis since the war and it has always had the lowest unemployment rate.
lol eccolo il complottaro