Just started an economics master’s program, and found your channel after I exhausted my repertoire Milton Friedman lectures. I really enjoy these videos that focus on a specific topic (this and the PS5/XBOX video). They are entertaining, and get my creative juices flowing for potential research topics!
The real interesting part is whether or not this extends to countries as well. Whether or not there is absolute convergence, or only club convergence, and what implication does that have for, for instance, foreign aid policy.
Market Power and EconomicsExplained (& BusinessCasual - frequency of upload is very low) are by far the best economics channel on UA-cam that I like. Thank you so much for making videos and sharing it with us.
This conclusion's meaningful if you only consider a population as otherwise-equal self-interested individuals, and ignore any structural causes or critique. Poverty traps are mostly relevant as *inter-generational* poverty, which are about as difficult to observe as the sun at noon.
You should also discuss property traps that are laid out by the government in the developed work. Like how welfare incentivizes people to not work, housing projects keeps poor people in ghettos, stipends for single parents keeps parents single etc. Getting a good list of all these destructive programs along with analysis of their (good versus bad) impact over time would be super interesting.
More people should be talking about this kindve stuff. With the way things are going my generation is screwed, me and all my friends would be homeless if not for our family and it aint like working together would make a difference. 3 bedroom apt is not only a rarity but also absurdly expensive where I live and where I live is supposed to be cheap compared to the entire nation. My dad who O haven't known for years now was able to support a family off of construction, it was hard, but it was livable, Im a damn DRILLER and I cant afford to move out of my moms let alone provide for a family.
According to a standard IQ distribution about 16% of the population has an IQ under 85. I suspect this explains persistent poverty more than poverty traps. So the only way we eliminate deep poverty is with some sort of guaranteed minimum income.
I really appreciate the engaging yet simple way you explain the topic that could have quickly become complicated if somebody else were to explain it. Kudos to you!
So, no math ability? A constant income is a straight line not a 45 degree line. That’s basic algebra where one plots a slope which is an increase. Geesh man Geesh!
im a sophomore Bachelor student majoring economics at University of Tehran and i really enjoy watching these videos, im so glad that i found your channel because you really help me get a better understanding of what i read all day and questions i have in mind, it also motivates me to start my own researches even tho im just a sophomore ;) keep it up
Did anyone dare to suggest that some people were better off than others not because they've received a cow, but because they knew how to use that thing between their ears? Sounds more legit than magnets
Education is a luxury commodity, but more importantly, adult brain mass is dictated by childhood nutrition. Broad differences in intelligence are caused by, not the cause of, wealth inequalities.
I absolutely love your videos on economics research. Read about the S-curve for the first time in Poor Economics!
Me too!
Damn Same
Just started an economics master’s program, and found your channel after I exhausted my repertoire Milton Friedman lectures. I really enjoy these videos that focus on a specific topic (this and the PS5/XBOX video). They are entertaining, and get my creative juices flowing for potential research topics!
The real interesting part is whether or not this extends to countries as well. Whether or not there is absolute convergence, or only club convergence, and what implication does that have for, for instance, foreign aid policy.
Market Power and EconomicsExplained (& BusinessCasual - frequency of upload is very low) are by far the best economics channel on UA-cam that I like. Thank you so much for making videos and sharing it with us.
Thanks! Now if only I could get the audience Economics Explained has!
@@MarketPowerYT everything will happen in good time mate ...
Just commenting for the algorithm
No no no you're here cause you're poor
Me too
I love how you explain economics with analogies to scientific concepts
Dude your channel is most underrated
The channel is only few month old. Just give it a time and it will be 100k in one or two years
Gotta say that I liked this video's editing. And the content is excellent as usual.
I worked really hard on the editing, so I appreciate you noticed!
this videos basically about science economics are awesome
Glad you like them. I'll be doing more!
Masterfully explained Craig. Subscribed.
This conclusion's meaningful if you only consider a population as otherwise-equal self-interested individuals, and ignore any structural causes or critique. Poverty traps are mostly relevant as *inter-generational* poverty, which are about as difficult to observe as the sun at noon.
We just talked about poverty traps in my development econ class a couple weeks ago! great video
You should also discuss property traps that are laid out by the government in the developed work. Like how welfare incentivizes people to not work, housing projects keeps poor people in ghettos, stipends for single parents keeps parents single etc.
Getting a good list of all these destructive programs along with analysis of their (good versus bad) impact over time would be super interesting.
More people should be talking about this kindve stuff. With the way things are going my generation is screwed, me and all my friends would be homeless if not for our family and it aint like working together would make a difference. 3 bedroom apt is not only a rarity but also absurdly expensive where I live and where I live is supposed to be cheap compared to the entire nation. My dad who O haven't known for years now was able to support a family off of construction, it was hard, but it was livable, Im a damn DRILLER and I cant afford to move out of my moms let alone provide for a family.
Missed opportunity to say "This is when the cows come home." Otherwise, 10/10 video.
Great video
Best Econ channel for me
Who is excited for announcement of Econ Nobel on Monday??!
Thank you for explanation!!!
According to a standard IQ distribution about 16% of the population has an IQ under 85. I suspect this explains persistent poverty more than poverty traps. So the only way we eliminate deep poverty is with some sort of guaranteed minimum income.
so, regular people have to help economists better see what is going on with them else economic research will lag behind economic reality?
Just like medical research!
It'd be nice if you cited your videos
Its real. I'm experiencing it.
Could have been better if certain information was not repeated again and again
Very good channel
It is very expensive to feed and maintain a cow. I sure as hell don't want one.
@LazicStefan If one has access to lot's of free land, they would be far better off growing narcotics on it. 😆
He doesn't know everything. He missed something
I really appreciate the engaging yet simple way you explain the topic that could have quickly become complicated if somebody else were to explain it. Kudos to you!
you have been very consistent with these quality uploads 💯 it's the creators like you that deserve millions of subscribers!
So, no math ability? A constant income is a straight line not a 45 degree line. That’s basic algebra where one plots a slope which is an increase. Geesh man Geesh!
Can you make video on economics of South America
I can put it on the list! Any country in particular?
@@MarketPowerYT Chile 🙏
im a sophomore Bachelor student majoring economics at University of Tehran and i really enjoy watching these videos, im so glad that i found your channel because you really help me get a better understanding of what i read all day and questions i have in mind, it also motivates me to start my own researches even tho im just a sophomore ;) keep it up
Thank you so much for the video!
I love how interesting it is and how well explained it is! :)
After taking economics course at school i never thought that economics can be any interesting until I found your videos :>
This is a much more fascinating and useful discussion of poverty than saying "systemic racism".
Did anyone dare to suggest that some people were better off than others not because they've received a cow, but because they knew how to use that thing between their ears? Sounds more legit than magnets
Education is a luxury commodity, but more importantly, adult brain mass is dictated by childhood nutrition. Broad differences in intelligence are caused by, not the cause of, wealth inequalities.