The only reason they were pirates is because nuclear waste was dumped off shore and killed all of the fish. It was an Italian company. You continue to spread rumors. Smh
Funny fact: These stocks for piracy raids are pretty much what the stock market was invented for in the 17th century in the Netherlands. Merchants pooled their capital to buy and muster ships to travel to Asia or the Americas and would share the profit if these ships return from their merchant "raids".
@@scimaniacthe Netherlands had regulation. They had a functioning government with laws and law enforcement. If the investors didn't get paid according to the contracts, the merchants could get arrested. Not exactly the case with Somali pirates.
You failed to mention why piracy was so rampant in somalia. After the government disolved the navy, foreign boats would come into somalia's water to either illigally fish somalia's fish or to pollute it by dumping water into it, the pirates came about as a way of protecting their water and they found an economic reason to keep doing it
@@cxpekyif they have the opportunity to tell the truth but it’ll make Somalis look better to the public or not tell that truth, they’d rather say nothing at all😂. They want people to still think about pirate gangs and War-Lords when people think of Somalia. This way every-time “Somalia” is title people. You’ll get tons more views if they still think it’s engulfed in fire lols
My coworker is somali, born and raised Mudug region. He says 100% of public utilities are run by local companies because the Capital has 0 power or abilities to provide them to the communities outside it because of the unrest. Police, airport authority, buses and more are all private and run locally.
And it works good like that for now. Im from somaliland and everybody has jobs and buisness oppurtunities. No one dies of starvation in somaliland. We are picking up nowadays and the government has been building more roads and are developing the infrastructure. They started taking taxes now. I cant wait to go back
Thank you for making this! Great dive into Somalia! With a growth score of 9/10 and the current government war on Al-Shabaab I am hopeful Somalia will rank much higher within the next 10-20 years. A LOT of great things has been set in motion within the past 5 years, and the people are tired of civil war. There is an entire new generation of hungry youngsters, who have seen the worst from their parents generation.
Only thing I'll add to the point about the currency is the shilling no longer in circulation as much as before in Somalia. People primarily use American dollars for day-to-day purchases. Also many of the industries are owned by a handful of monopolies. Also a point on instability, agriculture is not as stable as it once was. Having been there myself and talking to a number of the folks in the sector, they pointed to climate change as a major concern. Overall good analysis!
@@kausthubh Well, if your crops have failed and you are starving because of climate change, I think you will find some time to think about it even among all that chaos.
WHY does he use typical “poor African” video stock which aren’t even the people he’s discussing about? That’s like me making a video about poor Ukrainians but showing Mongolians footages. You’ve to put better effort in showcasing the people you’re discussing. Also, piracy started when Europeans who depleted their own fishing areas begin to come and STEAL somali fisherman’s only food source while they also dumped toxic waste in the process. The fisherman got together and TAXED those illegal ships but somehow you wanna call that “piracy” huh? You’re just regurgitating the same OLD and OUTDATED western talking points. I bet, you’ll also make a video about how Iraq had “wmd” right? These channels are becoming a joke and western media mouthpieces as they get more views.
No mention of Somalia’s telecommunications industry? Considering the volume of transactions and transfers of money that are completely cashless, as well as the development in this particular industry in comparison to the rest of the African region, this should have been mentioned. Also, about the currency, nobody even uses the somali currency.a very large number of transactions are done in dollars and this has been the case for an extended period of time. No mention of this either. The research depth for the video is somewhat disappointing.
I watch a lot of videos from creators like this. They are useful and informative to get general sense of things on a topic, but you are correct, they lack really in the weeds info. I still find them useful I just acknowledge that they are probably missing some details.
can't expect a deep dive in a 16min video. In the broader world, there would be a big segment of of people whose knowledge about Somalia probably stopped growing after the Battle of Mogadishu
This is a general problem with edutubers like EE or Wendover Productions. They give very surface level takes and they don't have the knowledge to go deeper. Anyone from Somalia or who's been to Somalia can tell you about Zaad, Dahabshiil, Premier etc that are used to transfer money by phone instead of cash but these channels are a bit clueless besides the most publicised and famous issues.
@@MSAli86 rohingya is not innocent at all..they are being deported from malaysia, indonesia , India, bangladesh..all blamed them for crime nd murder...So you can't blame myanmar alone
@Cooper Hawk people call it burma because although it's a name given by british colonizers, it's at least a name of the country itself. Myanmar is the name of the literal terrorist organization in power there, so the US governmant, some other governments, and people who don't like terrorism use Burma insteas
You should do a video on the current economic situation in Cuba. Would love to see how it ranks on the leaderboard, being born there myself. I know there’s already a video on Cuba, but it’s quite old now, and things have changed quite a lot recently.
I really wish the US and Cuba could move past so much of the problems of the past. Many people in Cuba are senselessly hurting economically because of the poor relations and sanctions :/
Unfortunately economic analyses of socialist/communist countries generally aren't particularly reliable as the traditional ways to measure parts of an economy are meant for a capitalist system. A good example of this would be how everything seems to think China is lying about it's GDP figures, while in reality those GDP figures are GDP targets set in advance.
@Moonwalker007 That’s completely false. Mogadishu is the second most dangerous city in Africa, with homicide rate at 73.8 per 100,000 persons which is ridiculously high.
Just like to point out the reason for the Somali pirates lays with many of our countries. In Australia, fisherman from Geraldton and other towns would go to the fishing waters near Africa in the off season and pillage their waters. This lead to a huge decline in fish and their fisherman couldn't exist. They were forced to defend their fishing waters. One fisherman I know had weapons on his Australian boat in case he caught a 'shark.' The fisherman defending their waters ended up becoming their first pirates. Western fisherman, many multi-millionaires, created this industry.
I was coming to post this also. Chinese ships have been stripping Africa of it's fishing stocks. In Somalia it was outrageous, they were actively fishing in Somalian waters.
Exactly, it quickly became profitable seeing how quick the payouts were from insurance companies and worried families usually with billions of net worth.
Similarly Somalia and most other African nations have been at the mercy of mining and oil companies since gaining independence, piracy is a pretty natural response to the plunder of a nations wealth while it's native population starves
The controversial German constitutional theorist Carl Schmitt had stated: “Sovereign is he who decides on the state of exception.”On the one hand he's regarded very critical, as he was part of the Nazi regime. On the other, he had identified many important mechanisms in law. His theories were even used, when Israel wrote its constitution.
Not really, the telecommunication companies brought the mobile mony to the country and people love it because it is much safer and easy to carry money.
Yeah just like @mohamedabdukadir3271stated, it's the Somali telecommunication companies that are the basis for electronic money transactions, its dissappointing that EE didn't mention this since the Somali Telecom companies in addition to the Somali Banks that's basically been the only industries to survive throughout this time as being the main reason why things like Remittance is even possible.
The US has several military bases in Somalia. The main one being near Mogadishu (baledogle) where they have stationed US drones. The US also has 700 military personnel in Somalia. Trump has ordered the military back but Biden has returned them all. It is a strategic base in the Horn of Africa. So no its not a small diplomatic fortress but has quite a size. Besides the US the UK has a military base, Turkey has a military base and their largest embassy in the world. The UAE has a base where they train the Somali military and all the contributing AMISOM countries have a militrary base. As for embassies. There are a lot of foreign embassies stationed in Mogadishu. Most of the western embassies are based in the Halane area of Mogadishu
5:55 Wrong. Siad Barre’s regime lost support and aid from the Soviet Union after the USSR sided with Ethiopia in the Ogaden War in 1977. Siad Barre had to turn to the IMF.
I could see that you're in middle of doing an episode on Poland, and as I am very interested in eastern Europe I am really looking forward to that I would also like to make a suggestion, that you do an episode on Poland's northern neighbors, the Baltic states, as they have had an amazing economic transformation over the last 30 years
@@komiks42True, nothing is perfect, and there are always periods of ups and downs in an economy, and the Baltic states have certainly had it tough lately (Ukraine, tax hikes, etc.). I really hope your gets over the current problems. However, it is important to recognise how far the Baltic states have come since regaining independence in 1989 and the subsequent chaos in the early 1990s.
@@jamesliston5693 Estonia never received much money from the European Union, and certainly didn't build itself up on EU finances, and have nearly always had a budget surplus, meaning that the government collects more in taxes locally then what they spend
I live in hargeisa Somaliland, and the electricity price is $0.73 pkwh. The water price 1 cubic meter is 14500 Somaliland Shillings $1.70. The exchange of US dollars is $1 = 8500 Somaliland Shillings.
very interesting video thanks. I saw many people recommend this country here in the past so it's nice that you listen to your subscribers, keep up the good content
Awesome video! I've been a fan of Economics Explained for a while now, and I must say, your content never disappoints. The way you break down complex economic concepts and make them accessible is truly commendable. I wanted to reach out with a suggestion for a future video topic: the economy of Albania. Albania's economic landscape is quite intriguing, especially considering its transition from a communist regime to a market-oriented system. It would be fascinating to delve into the factors that have shaped Albania's economic growth, the challenges it has faced along the way, and the potential opportunities that lie ahead. Covering the economy of Albania would not only provide valuable insights into this unique nation, but it would also shed light on the broader dynamics of transitioning economies. I believe your expertise and ability to explain complex topics would greatly benefit viewers seeking a deeper understanding of this lesser-known economy. Thank you for consistently producing engaging and informative content. I'm eagerly looking forward to your future videos, including one on the economy of Albania. Keep up the excellent work!
I love this channel! It has taught me so much. Though I have request, I remember a video on Saudi Arabia and its project Neom. There, you mentioned PPF curves and factor endowment theory ime how a country may run out of land before capital etc. I would love it if you could incorporate some of these macroeconomics concepts like that in the video so we might learn something more substantial. Thanks again Man
It's so funny to me that the travel warning is basically "get your affairs in order," without distinguishing Somaliland where the currency exchange guys literally leave huge amounts of money sitting around unlocked while they go to prayer.
As an economics student from Somalia, the most pressing issue is stability. if we can manage to establish a stable government and reduce anarchy, Somalia will prosper thanks to its strategic location on the Red Sea & the Indian Ocean plus the entrepreneurial spirit of its people.
At 10:03 the OECD headline about foreign aid surging due to Ukraine has a date of December 4, 2023. 6 Months in the future. Looking forward to seeing it in the end of year blooper video. But genuinely, thanks for the videos and content. Always a great watch and interesting lessons to take.
Somali piracy wasn't an example of what happens with no government interference. Other governments prevented merchant ships from effectively arming themselves or hiring somebody like Blackwater or Wagner to provide a solution.
Being a Bangladeshi, I'd love to see you do a deconstruction of the Bangladesh economy, and maybe give some suggestions to make the economy grow/improve faster and more effectively.
One slightly morbid thought I have about this: Historically, the common people did economically well after large losses of population, as the price for labour went up, and there was less strain on resources, especially farmland (the central economical consideration in a subsistence agriculture economy). And even before the Somali central government just evaporated, the civil war was a giant blood letting, including a targetted, concerted genocide claiming 50k-200k people by itself. I wonder if that as well had an effect on the relative economic/HDI prosperity during the anarchy...
Genghis killed so many people during his time that he actually helped cool down the Earth by a degree. As morbid as it sounds, the Earth is due for some culling to take place whether it is natural disasters, diseases and war.
What can you expect from someone that ranks the BRICS higher than Israel, loves Keynesianism and never mentions free markets even when it's most obvious it should be mentioned
"respected" by whom? People can be easily misled, misinformed. He's respected all right just not by anybody who understands economics. Even college-educated economists can misconstrue popularity for legitimacy. I know many professional so-called doctors, with degrees and licensed to operate, who I would not trust to prescribe me an aspirin. Many, many professionally trained economist have driven whole Nations into poverty. *See any centrally-planned Communist economy as an example.
Because he won the Nobel prize in economics in 2008. But this channel isn’t a historian either falsely saying Siad Barre was supported by the USSR after 1977 Ogaden War.
THE ACTUAL SOMALIA! ua-cam.com/video/ZolzJaUySh8/v-deo.html ua-cam.com/video/RBLr7UplJ9Q/v-deo.html ua-cam.com/video/Rpitkx2rdCc/v-deo.html ua-cam.com/video/tNEdPZCfxOs/v-deo.html ua-cam.com/video/u5tdhCpUhpY/v-deo.html ua-cam.com/video/HVcbjtYPQ8o/v-deo.html ua-cam.com/video/dNRHFaF9Y8w/v-deo.html
Anyone who is shocked that an anarchy can function economically, has been reading the wrong books. Free-market capitalism thrives when uninhibited. It is things like social structure, safety, and public welfare, that suffer.
Free market capitalism requires a MINIMUM state, only those who believe in anarcho capitalism don't want a state at all, but that's a completely different ideology
For a country like Somalia, it might actually have been quicker, easier, faster and more stable to literally start over with literal feudalism, a thousand small Lord's with local armies and very strong powers balanced against a king with strong powers, and aim for a parliament. You can think about Democracy after you have stability. This is even a situation where hard metal currency give more benifit than drawback, and with the inflation what it is, it's already mostly in a gold and silver equivalent economy anyway.
Somalis have always operated on a basis of basically confederalism, there's a deep cultural reason why there has never been anything akin to a "King of Somalis", and that is because even though Somalis are a unified tribe like how Somalis are one of the Major Tribes in Ethiopia, Somalis are stratified in terms of Clans, which are basically an organization of very large Somali families that are linked together by Ancestral Lineage and Ancestral Territory, Somali Clans deciding to come together are fundamentally the reason why Somalis have developing a Federal System now.
Hyena’s never a pet government shouldn’t get involved with people business one reason why 50 years old Americans peasant are homeless because they allow government to feed them.
@@lloydgush The clans own the territory not something like feudal lords, the clan families don’t have a leader instead it’s actually something like a democracy where they come together to form a government that does their bidding.
Paul krugman is one of the most boneheaded and controversial economists with down-party-line (liberal) economic ideas. I wonder if he’s a good choice for citing economic ideas…
It’s proof the majority of people everywhere just want to get on with their lives in peace. Disruption and violence are caused by a small number of idiots.
I don't know the geopolitical situation in Somalia, but given the rivalries between tribal groups, could Somalia even be considered one country? Are the borders drawn on a map by some British and Italian politicians relevant to the country as it is today? Inevitably the conflicts in Somalia are caused by tribal groups wanting to claim the whole country for themselves. But perhaps it would be better to break up Somalia into those groups, then monitor the cross border conflicts in the same way we did when Yugoslavia broke up and the Serbs tried to control everyone still. There are still issues with Serbs in the Balkans, but the economies of the Balkans have recovered massively since the open warfare of the 1990s.
No, the current war is between the government and Alshabaab, the clan war was in 1991 and we ended it after realizing no clan is stronger than another thus we adopted federal system with clans managing their internal affairs in their respectives regions.
@@mohamedabdukadir3271 yup. It's honestly a terrible system that will no doubt create problems in the future like all other faction based governments born from war like Lebanon's and Bosnia's system. For now though, it maintains peace.
Breaking up Somalia along clan lines is remarkably stupid as clans then further break down into subclans and subsubclans. All of which are as likely to war within and without the clan. Besides, clan borders will not be contiguous (because single clans are spread over wide areas, while multiple clans intermix in many areas), clan borders would not be static (because Somalis are a nomadic people and clan borders shift as wars and droughts make greener pastures attractive), and nobody wants foreigners "monitoring conflicts" between local clans and - if war is ever deemed necessary by local clans - would take extensive steps to keep meddling foreigners out of local affairs as they have done before and are doing literally right now. Besides, that the borders were drawn by foreigners is not a problem in the same way as they are in other African countries. They forced complete strangers and different cultures/religions/societies to form a single country together, but here, it's rather the opposite. Colonial borders cuts right through Somali lands and people, separating them into multiple countries. This too has been the source of major wars and a few genocides in years past.
My grade 11 Social Studies class had a project where each person had to present a different African country, which I thought was a great idea since we never learn enough about the individual countries and their history. But I was assigned Somalia and it was almost impossible to answer the questions since it's basically just a moving anarchy!
11:31 The pirates are smart enough to realise that cheating their investors means said investment will dry up when word spreads and they'll have to close shop.
Andy, this guy pulled information from chatgpt an AI system and made a video for clicks and likes. I've reported this video for misinformation. People are going there in droves opening up restaurants, cafes, hotels, movie theatres, building condos and houses. There's entire housing projects going there daily and it is becoming an investment hub. This idiot is talking about Somalia from 2007 not 2023. Also we like the Irish because the Irish aren't operating black ops sites, torture chambers, stealing oil and gold in the north, subsidizing and dropping weapons in remote locations to so called "terr0r1sts" etc etc. that's the americans and your neighbors the old british stock. Yet, all they can do is steal oil and small quantities of gold lol they've been in there since 1991 causing havoc and they have nothing to show for it.
The difference of the so called "Turkish Republic of Northern Cyprus" is that it is considered by many to not be a de facto state because it lacks in many ways independence and they consider it more of a de facto puppet state controlled at least partially by Turkey. This is not the case in any way with Taiwan or Somaliland.
Hey you've made a great video but you should judge Somalia in their current situation instead of taking articles from the past decade and the people in the video was not Somalis and there is that other than that the video was greate, keep up the good work.
@@kalomboC that's not what I'm talking about... If he talks about the economy of Zimbabwe then he will eventually have to talk about how rich it was under Rhodesia and how it got screwed once the locals took over the country from the whites
I knew that the Mogadishu based Sonalia is a lawless and dangerous place. However I have also spoken to a few people doing business in Somaliland, who told me that it is stable and thriving. Could you look into Somaliland? Apparently they derive their legitimacy from the fact that they 'voluntarily' joined Somalia after gaining independence from Italy and becoming a sovereign state for a short time. Is there a way to international recognition for them?
There is no real Somaliland it’s only exists where there are Issaqs and it isn’t stable there is a war going on where they are trying to control lands that belong to others who are unionists and don’t want to be part of their secessionist agenda. The economy in Somaliland is in shambles because their one major port is now being boycotted by such groups and they have the highest amount of youth trying to escape the country taking very dangerous journeys to do so. The only thing they had going for them was good PR but the war has lost them that and their loss of control of the SSC region also means their dream of international recognition is dead.
@@helmutzollner5496somaliland is not at peace. At the moment, they just came out of war where they lost against a tribe. It’s quiet atm but it could happen again if one side decided to start it up again.
AnCap is an oxymoron. It's more aptly called "Neo-Feudalism". "Property" and "Capital" only exist if there is a state to enforce its existence. Without a state then the "Property" and "Capital" will make a state to enforce their existence...
I think it would be interesting to speak about the rental markets in places like the Netherlands, where it is very difficult to rent an apartment. I'm very curious why this situation exists and why it doesn't seem to get fixed.
I read about it and here are some of the reasons: - Very small country - One of the most urbanised country (at least in Europe) - The companies (and especially universities) love to make publicity abroad and to bring more and more young workers and students (especially students) without caring whether or not the students will have a place. Many end up paying at least one year of study fees before leaving the country to not be homeless - finally many big companies own apartments, building and houses without renting them (for long term profits) thus furthering a scarcity of affordable decent housing (similar situation in the US where you have at least two times more vacant houses that no one uses than you have homeless people) In conclusion: logistics and greed from capitalism
its funny, the dutch east india company seemed to operate with a similar principle in funding voyages. i imagine you made more at its height on this than anything else in somalia, which is sad.
I find Somaliland rather interesting, its genesis was possible the British colony of British Somaliland, which may have given this nation some form of national identity. While it did join up with Somalia in 1960, Somalia immediately annoyed the locals which resulted in a revolt in 1961, which on and off continued until 1991, when it finally gained some level of stability. It has been a functioning democracy since that date and has received little aid from the UN, or the rest of the developed world. The only country which has recognised it and provided some official assistance is Taiwan. I have no idea why the rest of the world fails to support this rather interesting experiment in Islamic democracy, but I suspect some level of vested interests may be in play here.
That’s secessionist propaganda buddy and it’s partly why there is a war. If they want to leave they can but their land is only like a 1/3 of the land they claim.
@@majidelmit2326 Just to clarify my last email. You are correct that Somalia did not exist on the 26 June 1960. The state of Somaliland and the Trust Territory of Somaliland unified, forming the Somali Republic on 27 June 1960. In 1961 the Somali Republic took control of state institutions in the former state of Somaliland, which greatly annoyed the people in that part of Somali, resulting in a revolt in December 1961.
I hope Somalia can pull itself out of poverty and become a great country. I am currently playing cities skylines. It feels like they are playing hard mode with no start up cash while disasters (conflict) are occurring with head spinning frequency.
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the vast majority of Taiwanese consider themselves part of the mainland. Its pretty much just the USA that is confused on the subject
I'm hoping Somaliland gets mentioned in this video.
Update: WOOOOOO!
The only reason they were pirates is because nuclear waste was dumped off shore and killed all of the fish. It was an Italian company.
You continue to spread rumors. Smh
Did you Just teased Poland video ?
Well, at least they aren't Lebanon...
Funny fact: These stocks for piracy raids are pretty much what the stock market was invented for in the 17th century in the Netherlands. Merchants pooled their capital to buy and muster ships to travel to Asia or the Americas and would share the profit if these ships return from their merchant "raids".
which was why I was puzzled when he said stock exchanges require “high-levels of regulation”
I was thinking about this for here in the UK too.
@@scimaniacthe Netherlands had regulation. They had a functioning government with laws and law enforcement. If the investors didn't get paid according to the contracts, the merchants could get arrested. Not exactly the case with Somali pirates.
As far as I knew the stock market was started in the Netherlands then but with the forecast of the Tulips harvests.
@@natel9019 no your wrong. It's was stocks in a voyage
You failed to mention why piracy was so rampant in somalia. After the government disolved the navy, foreign boats would come into somalia's water to either illigally fish somalia's fish or to pollute it by dumping water into it, the pirates came about as a way of protecting their water and they found an economic reason to keep doing it
This is incredibly important what you just said and should be never missed in video like this.
@@cxpekyif they have the opportunity to tell the truth but it’ll make Somalis look better to the public or not tell that truth, they’d rather say nothing at all😂. They want people to still think about pirate gangs and War-Lords when people think of Somalia. This way every-time “Somalia” is title people. You’ll get tons more views if they still think it’s engulfed in fire lols
@@jareersmoker1721warya Ramadan Mubarak 🌙
My coworker is somali, born and raised Mudug region. He says 100% of public utilities are run by local companies because the Capital has 0 power or abilities to provide them to the communities outside it because of the unrest. Police, airport authority, buses and more are all private and run locally.
And it works good like that for now. Im from somaliland and everybody has jobs and buisness oppurtunities. No one dies of starvation in somaliland. We are picking up nowadays and the government has been building more roads and are developing the infrastructure. They started taking taxes now. I cant wait to go back
@@smeshcel3025 you can just somalia 🇸🇴
Lol. And the U.S. goes into a panic when there could be a government shutdown. No one would notice a stitch if it happened
Sounds like paradise
It’s not a matter of how functional anarchy is but how dysfunctional governments can be.
Why not both? Limited government is a thing.
@@acctsys No, sadly its not. "Limited" government never lasts. That is due to human nature and the nature of government.
Anarchy is incredibly functional. Look it up. What it isn't good at at all is goose-stepping, international theft and mass violence.
@@Mythhammer I understand. Somalia on the other hand learned that lesson the hard way. They could take the straight path when they can.
Motivated individuals will self organize in many ways. Gov often inhibits that.
Thank you for making this! Great dive into Somalia!
With a growth score of 9/10 and the current government war on Al-Shabaab I am hopeful Somalia will rank much higher within the next 10-20 years. A LOT of great things has been set in motion within the past 5 years, and the people are tired of civil war. There is an entire new generation of hungry youngsters, who have seen the worst from their parents generation.
Yah ? Do you know how many *decades* Somalis have been tired of their shothole ? What has been done since then?;
You make some great content on insta
@@CxesarHe does?
English speaking?
@@m.hughmungus121 we have been investing and creating our own infrastructure. communities funding it themselves as well as factories and ports
@@akiim1532 investments return a profit, you realize this ?
Look at me, look at me I am the captain now
Haha so funny... not.
“Look at me I’m Swedish now” hahahaha!
@@Connor_Roush wish we never took in africans
Not funny
I am the economy now
Only thing I'll add to the point about the currency is the shilling no longer in circulation as much as before in Somalia. People primarily use American dollars for day-to-day purchases. Also many of the industries are owned by a handful of monopolies. Also a point on instability, agriculture is not as stable as it once was. Having been there myself and talking to a number of the folks in the sector, they pointed to climate change as a major concern.
Overall good analysis!
Imagine a climate change denialist in Somalia.... amazing to think of stupidity as a western luxury.
In this much chaos, they have the time to think about climate change??!?!!
@@kausthubh Agriculture is sensitive to changes in climate, yes. There's been a nasty drought there past five years which has led to food shortages.
@@kausthubh Well, if your crops have failed and you are starving because of climate change, I think you will find some time to think about it even among all that chaos.
WHY does he use typical “poor African” video stock which aren’t even the people he’s discussing about? That’s like me making a video about poor Ukrainians but showing Mongolians footages. You’ve to put better effort in showcasing the people you’re discussing.
Also, piracy started when Europeans who depleted their own fishing areas begin to come and STEAL somali fisherman’s only food source while they also dumped toxic waste in the process. The fisherman got together and TAXED those illegal ships but somehow you wanna call that “piracy” huh?
You’re just regurgitating the same OLD and OUTDATED western talking points. I bet, you’ll also make a video about how Iraq had “wmd” right? These channels are becoming a joke and western media mouthpieces as they get more views.
No mention of Somalia’s telecommunications industry? Considering the volume of transactions and transfers of money that are completely cashless, as well as the development in this particular industry in comparison to the rest of the African region, this should have been mentioned. Also, about the currency, nobody even uses the somali currency.a very large number of transactions are done in dollars and this has been the case for an extended period of time. No mention of this either. The research depth for the video is somewhat disappointing.
I watch a lot of videos from creators like this. They are useful and informative to get general sense of things on a topic, but you are correct, they lack really in the weeds info. I still find them useful I just acknowledge that they are probably missing some details.
can't expect a deep dive in a 16min video. In the broader world, there would be a big segment of of people whose knowledge about Somalia probably stopped growing after the Battle of Mogadishu
This is a general problem with edutubers like EE or Wendover Productions. They give very surface level takes and they don't have the knowledge to go deeper. Anyone from Somalia or who's been to Somalia can tell you about Zaad, Dahabshiil, Premier etc that are used to transfer money by phone instead of cash but these channels are a bit clueless besides the most publicised and famous issues.
@@aaanawaleh there audience is Americans. Most Americans think Somalia is in the Carribbean because there's pirates there
@@AvoidTheCadaver until I saw this video, I knew nothing of the post battle of Mogadishu country
Can you do Myanmar? It’s interesting how it’s historically been all over the place.
*Burma
Yeh, highlighting the rohingyan genocide would be of particular interest
@@beefjerkythesecond *myanmar
@@MSAli86 rohingya is not innocent at all..they are being deported from malaysia, indonesia , India, bangladesh..all blamed them for crime nd murder...So you can't blame myanmar alone
@Cooper Hawk people call it burma because although it's a name given by british colonizers, it's at least a name of the country itself. Myanmar is the name of the literal terrorist organization in power there, so the US governmant, some other governments, and people who don't like terrorism use Burma insteas
As a Somali thanks for covering our economy everything said was spot on,our biggest obstacle is security once we get rid of it we’ll develop fast.
No its clanism
What are you on about? He made several mistakes
You’re woefully confused about your own country if this was spot on to you.
@@minki46664 he’s Somali too.
@@minki46664 liibaan is a somali name so yeah, there's that...
You should do a video on the current economic situation in Cuba. Would love to see how it ranks on the leaderboard, being born there myself. I know there’s already a video on Cuba, but it’s quite old now, and things have changed quite a lot recently.
I second this request
Did it improve or get worse?
I really wish the US and Cuba could move past so much of the problems of the past. Many people in Cuba are senselessly hurting economically because of the poor relations and sanctions :/
Unfortunately economic analyses of socialist/communist countries generally aren't particularly reliable as the traditional ways to measure parts of an economy are meant for a capitalist system. A good example of this would be how everything seems to think China is lying about it's GDP figures, while in reality those GDP figures are GDP targets set in advance.
@@colehowe Nah, they don't need the help from the evil capitalists.
It is surprising to see Somalia is having a better functional economy than South Africa!
@Moonwalker007 That’s completely false. Mogadishu is the second most dangerous city in Africa, with homicide rate at 73.8 per 100,000 persons which is ridiculously high.
@@mesa9724 that's nonsense 😢 came muqdisho and you see your self
@@adamsaciid4919 I don’t need to and I don’t want to go to that shithole. Just look it up online lol.
@@mesa9724 from personal experience, that is definitely not true.
@@YungPickleDaSour Do you think your personal experience matters? There statistics online made by officials.
Just like to point out the reason for the Somali pirates lays with many of our countries. In Australia, fisherman from Geraldton and other towns would go to the fishing waters near Africa in the off season and pillage their waters. This lead to a huge decline in fish and their fisherman couldn't exist. They were forced to defend their fishing waters. One fisherman I know had weapons on his Australian boat in case he caught a 'shark.'
The fisherman defending their waters ended up becoming their first pirates. Western fisherman, many multi-millionaires, created this industry.
I was coming to post this also. Chinese ships have been stripping Africa of it's fishing stocks. In Somalia it was outrageous, they were actively fishing in Somalian waters.
Exactly, it quickly became profitable seeing how quick the payouts were from insurance companies and worried families usually with billions of net worth.
Geraldton?
Similarly Somalia and most other African nations have been at the mercy of mining and oil companies since gaining independence, piracy is a pretty natural response to the plunder of a nations wealth while it's native population starves
Yawn
The controversial German constitutional theorist Carl Schmitt had stated: “Sovereign is he who decides on the state of exception.”On the one hand he's regarded very critical, as he was part of the Nazi regime. On the other, he had identified many important mechanisms in law. His theories were even used, when Israel wrote its constitution.
I‘ve heard about his quote about recently, but I didn‘t know his contributions to economics.
Israel has a constitution?
Israel doesn't have a constitution.
Not all nazi are bad people.
@@OzyTheLast it has a Basic Law.
I am always interested EE content and hope he continues his great work
Somalia actually uses mobile pay alot bc of cash is hard to get and not always worth a lot.
Not really, the telecommunication companies brought the mobile mony to the country and people love it because it is much safer and easy to carry money.
Yeah just like @mohamedabdukadir3271stated, it's the Somali telecommunication companies that are the basis for electronic money transactions, its dissappointing that EE didn't mention this since the Somali Telecom companies in addition to the Somali Banks that's basically been the only industries to survive throughout this time as being the main reason why things like Remittance is even possible.
@@mohamedabdukadir3271 safer in what way? I personally thing it’s dangerous since it facilitate Al Shabaab
What currency do they generally use?
@@emceeboogieboots1608 USD
A large amount of the pictures of people in this video is not in Somalia. It's like showing Japanese pictures when talking about Korea.
“A small, diplomatic fortress”. Wow.
Wanna talk to the US? Come in here. Alone and unarmed.
The US has several military bases in Somalia. The main one being near Mogadishu (baledogle) where they have stationed US drones. The US also has 700 military personnel in Somalia. Trump has ordered the military back but Biden has returned them all. It is a strategic base in the Horn of Africa. So no its not a small diplomatic fortress but has quite a size. Besides the US the UK has a military base, Turkey has a military base and their largest embassy in the world. The UAE has a base where they train the Somali military and all the contributing AMISOM countries have a militrary base. As for embassies. There are a lot of foreign embassies stationed in Mogadishu. Most of the western embassies are based in the Halane area of Mogadishu
Not the only country that has a diplomatic "fortress". Go visit the US Embassy in Istanbul.
@@RussellNelson
You’d think there was a risk of high explosives going off nearby or something. Lol.
10:07 wow, you guys managed to print a story that wasn't published yet
Nice pick up😁
Somali is one of the most interesting current economies.
As bad as its situation is.
Its still very interesting.
5:55 Wrong. Siad Barre’s regime lost support and aid from the Soviet Union after the USSR sided with Ethiopia in the Ogaden War in 1977. Siad Barre had to turn to the IMF.
I could see that you're in middle of doing an episode on Poland, and as I am very interested in eastern Europe I am really looking forward to that
I would also like to make a suggestion, that you do an episode on Poland's northern neighbors, the Baltic states, as they have had an amazing economic transformation over the last 30 years
Our economy is held together by ducktape.
With currently gov, i can really see reverting to the status from 1980
@@komiks42True, nothing is perfect, and there are always periods of ups and downs in an economy, and the Baltic states have certainly had it tough lately (Ukraine, tax hikes, etc.).
I really hope your gets over the current problems.
However, it is important to recognise how far the Baltic states have come since regaining independence in 1989 and the subsequent chaos in the early 1990s.
Eastern Europe wouldn't have been where they are if it wasn't western Europe's taxpayers money 🤑
@@jamesliston5693 Estonia never received much money from the European Union, and certainly didn't build itself up on EU finances, and have nearly always had a budget surplus, meaning that the government collects more in taxes locally then what they spend
I think you should do economics for Taliban, Hisballa and Hamas
I live in hargeisa Somaliland, and the electricity price is $0.73 pkwh. The water price 1 cubic meter is 14500 Somaliland Shillings $1.70.
The exchange of US dollars is $1 = 8500 Somaliland Shillings.
very interesting video thanks. I saw many people recommend this country here in the past so it's nice that you listen to your subscribers, keep up the good content
Need to look into how other countries fishing in Somali waters robs Somalia of that resource and is thus a contributor to the piracy problem.
Could you do videos about southeast asia? starting alphabetically would be great! a region that are quite important yet barely talked about :)
Yeah, EE has been neglecting this region
Man, that 9/10 on growth really carried Somalia on not being in the bottom spot.
This channel always finds new ways to impress. Giving us headlines from 6 months in future!
Noticed that too and instantly searched for the comments :D
I’ve been waiting for this one all my life.
Awesome video! I've been a fan of Economics Explained for a while now, and I must say, your content never disappoints. The way you break down complex economic concepts and make them accessible is truly commendable.
I wanted to reach out with a suggestion for a future video topic: the economy of Albania. Albania's economic landscape is quite intriguing, especially considering its transition from a communist regime to a market-oriented system. It would be fascinating to delve into the factors that have shaped Albania's economic growth, the challenges it has faced along the way, and the potential opportunities that lie ahead.
Covering the economy of Albania would not only provide valuable insights into this unique nation, but it would also shed light on the broader dynamics of transitioning economies. I believe your expertise and ability to explain complex topics would greatly benefit viewers seeking a deeper understanding of this lesser-known economy.
Thank you for consistently producing engaging and informative content. I'm eagerly looking forward to your future videos, including one on the economy of Albania. Keep up the excellent work!
The pirate stock exchange was epic. Initial Pirate Offerring. 😂
I love this channel! It has taught me so much. Though I have request, I remember a video on Saudi Arabia and its project Neom. There, you mentioned PPF curves and factor endowment theory ime how a country may run out of land before capital etc. I would love it if you could incorporate some of these macroeconomics concepts like that in the video so we might learn something more substantial. Thanks again Man
Please do not learn from this channel they are cookie cutting information
@@MaybeDay4 you should post some examples with sources to prove your point.
It's so funny to me that the travel warning is basically "get your affairs in order," without distinguishing Somaliland where the currency exchange guys literally leave huge amounts of money sitting around unlocked while they go to prayer.
Fun fact. There is million dollar real estate in Mogadishu.
Average modern apartment costs 350k dollars. 20km Outside of Mogadishu homes go for 70-160k dollars.
The way you emphasize the last words in your sentences is interestiiiing
EconomeEeE
I've learned so much from this video correcting my previous beliefs about Somalia. Thank you 🙏🏽
Some of the things they talk about are not true though
Don’t take this as somali Wikipedia 😂
As an economics student from Somalia, the most pressing issue is stability. if we can manage to establish a stable government and reduce anarchy, Somalia will prosper thanks to its strategic location on the Red Sea & the Indian Ocean plus the entrepreneurial spirit of its people.
I think it’s clear that Somalia doesn’t need a government
Somalia is our neighbour and is very peaceful. Stop this negativity from western media
This channel is absolutely off the rails.
At 10:03 the OECD headline about foreign aid surging due to Ukraine has a date of December 4, 2023. 6 Months in the future. Looking forward to seeing it in the end of year blooper video.
But genuinely, thanks for the videos and content. Always a great watch and interesting lessons to take.
I was looking for this comment.
@@TheBFTsame
Best quality channel no doubt 🎉🎉❤❤
❤❤
Somali piracy wasn't an example of what happens with no government interference. Other governments prevented merchant ships from effectively arming themselves or hiring somebody like Blackwater or Wagner to provide a solution.
Can you examine the Central African Republic?
Cars depreciate rapidly
Your next video should be about Belgium and how it fares with or without a government 😅
Being a Bangladeshi, I'd love to see you do a deconstruction of the Bangladesh economy, and maybe give some suggestions to make the economy grow/improve faster and more effectively.
None of the stock footage of this video shows real Somalis. I guess none of the stock photographers or video makers were willing to take the risk.
Imagine having a government as inept as it is that the country prosper more in their absence
Humans don't have to have corrupt politicians, we give them too much power 😊
@@The-Heart-Will-Testify
Humans are every bit as corrupt. The politicians are just a reflection.
One slightly morbid thought I have about this: Historically, the common people did economically well after large losses of population, as the price for labour went up, and there was less strain on resources, especially farmland (the central economical consideration in a subsistence agriculture economy). And even before the Somali central government just evaporated, the civil war was a giant blood letting, including a targetted, concerted genocide claiming 50k-200k people by itself. I wonder if that as well had an effect on the relative economic/HDI prosperity during the anarchy...
Genghis killed so many people during his time that he actually helped cool down the Earth by a degree. As morbid as it sounds, the Earth is due for some culling to take place whether it is natural disasters, diseases and war.
This does happen but not necessarily all the time. Sometimes a loss in population can push a society to collapse.
Economics Explained ha burburto, it means it is a good channel ❤
❤
😂
Nacalaa shydan kuyaal😂😂😂
This is the first time I've heard someone saying Krugman is a respected economist
What can you expect from someone that ranks the BRICS higher than Israel, loves Keynesianism and never mentions free markets even when it's most obvious it should be mentioned
"respected" by whom? People can be easily misled, misinformed.
He's respected all right just not by anybody who understands economics.
Even college-educated economists can misconstrue popularity for legitimacy.
I know many professional so-called doctors, with degrees and licensed to operate, who I would not trust to prescribe me an aspirin.
Many, many professionally trained economist have driven whole Nations into poverty.
*See any centrally-planned Communist economy as an example.
Because he won the Nobel prize in economics in 2008. But this channel isn’t a historian either falsely saying Siad Barre was supported by the USSR after 1977 Ogaden War.
Ya, everyone that knows Krugman knows that he is a clown!
I would love to see what you have to say about peruvian stable currency, slow but steady growth and political chaos
Since the leaderboard is updated after every other video. How about giving a link to a spreadsheet that gives the entire list for us to see.
I have been requesting a video on Somalia for a longtime and at least a little on the economy on Somaliland, a unrecognized country inside Somalia
Somaliland is not “an unrecognised country in Somalia” it is a region of Somalia.
Sorry to break it to you, but Somaliland is even poorer, it only fairs well with stability.
A piece of a sececconist cell has another secessonist cell inside the (SSC), have a taste of craziness I guess.
Hi thanks for the video, I was wondering can you do a video covering Algeria i think it might be an interesting video and thanks for the content
9:53 I am very impressed with EE's reporting. They're even able to pull articles from the future. (Dated 06/06/2023).
Please look into and do a video on the economy of BOTSWANA? I would like to see you rate it in your board.😅
Haiti is probably more screwed than Somalia is right now.
Somalia is rising out of violent chaos. Haiti is falling into it.
Haiti is in the stage where somalia were in 1990s
9:55 When your economics is so good that you get articles that haven't happened yet🎉
THE ACTUAL SOMALIA!
ua-cam.com/video/ZolzJaUySh8/v-deo.html
ua-cam.com/video/RBLr7UplJ9Q/v-deo.html
ua-cam.com/video/Rpitkx2rdCc/v-deo.html
ua-cam.com/video/tNEdPZCfxOs/v-deo.html
ua-cam.com/video/u5tdhCpUhpY/v-deo.html
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Rojava in Syria and Cherån in Mexico are two other anarchist societies worth checking out.
Those experiments of libertarian socialism have nothing to do with this failed african country
Anyone who is shocked that an anarchy can function economically, has been reading the wrong books.
Free-market capitalism thrives when uninhibited.
It is things like social structure, safety, and public welfare, that suffer.
Thrive... yea i mean big companies will produce lots when they can exploit the 3rd world without checks...
Nothing like the rich getting richer...
it didn't THRIVE...it just went better than a EXTREMELY corrupt dictator, which is INFACT not surprising but for the wrong reason
Free market capitalism requires a MINIMUM state, only those who believe in anarcho capitalism don't want a state at all, but that's a completely different ideology
The informal economy of people working under the table is anarchic.
Thomas sowell's. Basic economics book is a gem of a read.
its so weird that they don't use any actual footage from somalia but just random other african countries
At minute10 you show a report from the OECD dated December 4, 2023. I want to know how you got your hands on that. 😊
For a country like Somalia, it might actually have been quicker, easier, faster and more stable to literally start over with literal feudalism, a thousand small Lord's with local armies and very strong powers balanced against a king with strong powers, and aim for a parliament. You can think about Democracy after you have stability. This is even a situation where hard metal currency give more benifit than drawback, and with the inflation what it is, it's already mostly in a gold and silver equivalent economy anyway.
Eeew
Somalis have always operated on a basis of basically confederalism, there's a deep cultural reason why there has never been anything akin to a "King of Somalis", and that is because even though Somalis are a unified tribe like how Somalis are one of the Major Tribes in Ethiopia, Somalis are stratified in terms of Clans, which are basically an organization of very large Somali families that are linked together by Ancestral Lineage and Ancestral Territory, Somali Clans deciding to come together are fundamentally the reason why Somalis have developing a Federal System now.
Isn't that what happened?
I joke it's ancapstan, but it's more like feudalism.
Hyena’s never a pet government shouldn’t get involved with people business one reason why 50 years old Americans peasant are homeless because they allow government to feed them.
@@lloydgush The clans own the territory not something like feudal lords, the clan families don’t have a leader instead it’s actually something like a democracy where they come together to form a government that does their bidding.
Funny fact: Most of videos and photos in this video aren't from somalia
Paul krugman is one of the most boneheaded and controversial economists with down-party-line (liberal) economic ideas. I wonder if he’s a good choice for citing economic ideas…
@econmics Explained, can you do a video of the Soviet Union Economy at its peak? It would be interesting to see.
It's a miracle that these kinds of countries sustain themselves for even a day.
what else can they do tho?, just pop out of existence?,
This is the lowest a country can go
also Somalia under anarchy they never had any inflation 😂
i live there they are talking 99 fake we have land we grow what to eat our selfs and import metal and we do not give the world data...
It’s proof the majority of people everywhere just want to get on with their lives in peace. Disruption and violence are caused by a small number of idiots.
The money their citizens send from Sweden is also good for the economy
Looking forward to see the economy of kenya
“Babe wake up, the new economics explained video just dropped”
Nice video, Economics Explained team!
I don't know the geopolitical situation in Somalia, but given the rivalries between tribal groups, could Somalia even be considered one country? Are the borders drawn on a map by some British and Italian politicians relevant to the country as it is today?
Inevitably the conflicts in Somalia are caused by tribal groups wanting to claim the whole country for themselves. But perhaps it would be better to break up Somalia into those groups, then monitor the cross border conflicts in the same way we did when Yugoslavia broke up and the Serbs tried to control everyone still. There are still issues with Serbs in the Balkans, but the economies of the Balkans have recovered massively since the open warfare of the 1990s.
No, the current war is between the government and Alshabaab, the clan war was in 1991 and we ended it after realizing no clan is stronger than another thus we adopted federal system with clans managing their internal affairs in their respectives regions.
@@mohamedabdukadir3271 yup. It's honestly a terrible system that will no doubt create problems in the future like all other faction based governments born from war like Lebanon's and Bosnia's system. For now though, it maintains peace.
@@mohamedabdukadir3271 -- Isn't there a large clan war raging in the North as we speak?
Breaking up Somalia along clan lines is remarkably stupid as clans then further break down into subclans and subsubclans. All of which are as likely to war within and without the clan. Besides, clan borders will not be contiguous (because single clans are spread over wide areas, while multiple clans intermix in many areas), clan borders would not be static (because Somalis are a nomadic people and clan borders shift as wars and droughts make greener pastures attractive), and nobody wants foreigners "monitoring conflicts" between local clans and - if war is ever deemed necessary by local clans - would take extensive steps to keep meddling foreigners out of local affairs as they have done before and are doing literally right now.
Besides, that the borders were drawn by foreigners is not a problem in the same way as they are in other African countries. They forced complete strangers and different cultures/religions/societies to form a single country together, but here, it's rather the opposite. Colonial borders cuts right through Somali lands and people, separating them into multiple countries. This too has been the source of major wars and a few genocides in years past.
@@Abshir1it1is it’s not that devastating or maybe you’re referring to the Isaaqs shelling the dulbahante in las anod?
This is your best video yet
Because it is all fiction you would think Disney put it together. I loved it, cute stories and plenty of lies.
Key takeaway: Somalian style anarchy is something we should to try in our own economy
8:25
He's talking to you.
@@FictionHubZA Cringe central state propaganda
@@bigorna4875 lol
u will need clans and some religious worriors plus dont trust anyone mindset and u might just make it with pirets guarding ur coasts
I see Somalia and I instantly think of Black Hawk Down
My grade 11 Social Studies class had a project where each person had to present a different African country, which I thought was a great idea since we never learn enough about the individual countries and their history. But I was assigned Somalia and it was almost impossible to answer the questions since it's basically just a moving anarchy!
How long ago was that?
it’s not in anarchy anymore it’s not the 1990s anymore
What do you mean by moving anarchy?
Somalia has a rich history and it wasn’t in chaos this whole time. There are lots of fascinating civilizations.
This is a good channel! Very informative!
11:31 The pirates are smart enough to realise that cheating their investors means said investment will dry up when word spreads and they'll have to close shop.
Great episode, it's strange that most of the articles you quote round 10 years old though.
i wish more societies tried that instead of communism. At least it would make a more interesting timeline
Idk I’d rather them at least try communism so we could see how it interacts in contrast to capitalism.
Somalia was best when it was socialist.
Stateless, classless and moneyless. Communist countries don't exist since they call themselves a country
Neither is a livable situation.
Someone has to be in charge, and that someone needs to a decent job of it.
@@infidelheretic923 What happens if their aren't?
Somalia has the largest oil reserves in the world. That’s why they won’t let it be
Can you make a video on Bangladesh ?
13:46 somila had one huge problem it has a lack of natrual resources.
Not really, we have unexplored oil and other natural recources
Very sad, I've met some Somalis who've emigrated to Dublin & they seem mostly decent & friendly !!
Andy, this guy pulled information from chatgpt an AI system and made a video for clicks and likes.
I've reported this video for misinformation.
People are going there in droves opening up restaurants, cafes, hotels, movie theatres, building condos and houses. There's entire housing projects going there daily and it is becoming an investment hub.
This idiot is talking about Somalia from 2007 not 2023.
Also we like the Irish because the Irish aren't operating black ops sites, torture chambers, stealing oil and gold in the north, subsidizing and dropping weapons in remote locations to so called "terr0r1sts" etc etc. that's the americans and your neighbors the old british stock.
Yet, all they can do is steal oil and small quantities of gold lol they've been in there since 1991 causing havoc and they have nothing to show for it.
Get off of your high horse.
The difference of the so called "Turkish Republic of Northern Cyprus" is that it is considered by many to not be a de facto state because it lacks in many ways independence and they consider it more of a de facto puppet state controlled at least partially by Turkey. This is not the case in any way with Taiwan or Somaliland.
This is a fascinating video on a country we don’t hear much about. Good job EE
Hey you've made a great video but you should judge Somalia in their current situation instead of taking articles from the past decade and the people in the video was not Somalis and there is that other than that the video was greate, keep up the good work.
how come zimbabwe wasnt put on the economic leader board
The answer to your question lies in the term '....leader board...' 😏
Because he doesn't wanna be called racist
@@Bolognabeef and yet he put Somalia on the board...your logic is flawed
@@kalomboC that's not what I'm talking about... If he talks about the economy of Zimbabwe then he will eventually have to talk about how rich it was under Rhodesia and how it got screwed once the locals took over the country from the whites
I knew that the Mogadishu based Sonalia is a lawless and dangerous place.
However I have also spoken to a few people doing business in Somaliland, who told me that it is stable and thriving.
Could you look into Somaliland?
Apparently they derive their legitimacy from the fact that they 'voluntarily' joined Somalia after gaining independence from Italy and becoming a sovereign state for a short time.
Is there a way to international recognition for them?
There is no real Somaliland it’s only exists where there are Issaqs and it isn’t stable there is a war going on where they are trying to control lands that belong to others who are unionists and don’t want to be part of their secessionist agenda. The economy in Somaliland is in shambles because their one major port is now being boycotted by such groups and they have the highest amount of youth trying to escape the country taking very dangerous journeys to do so. The only thing they had going for them was good PR but the war has lost them that and their loss of control of the SSC region also means their dream of international recognition is dead.
@@farahh3 thank you. That is valuable info. Appreciate it. 👍
@@helmutzollner5496somaliland is not at peace. At the moment, they just came out of war where they lost against a tribe. It’s quiet atm but it could happen again if one side decided to start it up again.
This literally isnt true at all
There is no anarcho capitalism or anarcho communism there is just anarchy.
As an anarchist- no.
@@ericvulgate also somalia is not anarchy
It's PURE capitalism.
AnCap is an oxymoron. It's more aptly called "Neo-Feudalism". "Property" and "Capital" only exist if there is a state to enforce its existence. Without a state then the "Property" and "Capital" will make a state to enforce their existence...
Eh
I think it would be interesting to speak about the rental markets in places like the Netherlands, where it is very difficult to rent an apartment. I'm very curious why this situation exists and why it doesn't seem to get fixed.
I read about it and here are some of the reasons:
- Very small country
- One of the most urbanised country (at least in Europe)
- The companies (and especially universities) love to make publicity abroad and to bring more and more young workers and students (especially students) without caring whether or not the students will have a place. Many end up paying at least one year of study fees before leaving the country to not be homeless
- finally many big companies own apartments, building and houses without renting them (for long term profits) thus furthering a scarcity of affordable decent housing (similar situation in the US where you have at least two times more vacant houses that no one uses than you have homeless people)
In conclusion: logistics and greed from capitalism
its funny, the dutch east india company seemed to operate with a similar principle in funding voyages. i imagine you made more at its height on this than anything else in somalia, which is sad.
The dude just gathered anything he can get from the internet and have no idea the reality of somalia 😅.
Why does the EE guy sounds like the Wendover and HAI guy
I'm surprised this economics explained totally overlooked one of the main factors for Somali Economic growth: remittances.
I find Somaliland rather interesting, its genesis was possible the British colony of British Somaliland, which may have given this nation some form of national identity. While it did join up with Somalia in 1960, Somalia immediately annoyed the locals which resulted in a revolt in 1961, which on and off continued until 1991, when it finally gained some level of stability. It has been a functioning democracy since that date and has received little aid from the UN, or the rest of the developed world. The only country which has recognised it and provided some official assistance is Taiwan. I have no idea why the rest of the world fails to support this rather interesting experiment in Islamic democracy, but I suspect some level of vested interests may be in play here.
They join who? The was no such thing as Somalia at that time. South and north came together and formed Somali republic
@@majidelmit2326 They were theoretically an independent state for a few months, after they were decolonised.
That’s secessionist propaganda buddy and it’s partly why there is a war. If they want to leave they can but their land is only like a 1/3 of the land they claim.
@@majidelmit2326 Just to clarify my last email. You are correct that Somalia did not exist on the 26 June 1960. The state of Somaliland and the Trust Territory of Somaliland unified, forming the Somali Republic on 27 June 1960. In 1961 the Somali Republic took control of state institutions in the former state of Somaliland, which greatly annoyed the people in that part of Somali, resulting in a revolt in December 1961.
@@peterfmodel the situation is much more complex than locals got annoyed
As a swede im proud, somali pirates is the modern day vikings
I hope Somalia can pull itself out of poverty and become a great country. I am currently playing cities skylines. It feels like they are playing hard mode with no start up cash while disasters (conflict) are occurring with head spinning frequency.
Imperialists won't allow that if it doesn't benefit them
@@standowner6979 nope somalis wont allow it
Based on old information