How Does Finland Redefine Economic Success? 🇫🇮

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  • Опубліковано 21 лис 2024

КОМЕНТАРІ • 1,1 тис.

  • @user-yg2gw4je8d
    @user-yg2gw4je8d Рік тому +569

    EE completely overlooked Finland's most important contribution to the world. Only the Fins can successfully make it all the way around a hairpin bend in Winter, on a gravel road, and without slowing down. This crucial skill adds 1.5 to Finland's overall score. Thus, in reality, Finland is fourth on the Leaderboard.

    • @tjitse3916
      @tjitse3916 Рік тому +30

      That end the metal music they make. Nightwish, Amorphis, many more.....

    • @GrandviewKing
      @GrandviewKing Рік тому +22

      There is a reason the population is so low… now we know why

    • @jaskapenttila7644
      @jaskapenttila7644 Рік тому +49

      @@GrandviewKing Those that cant Make The turn Are not worthy

    • @stevenjsummerville9743
      @stevenjsummerville9743 Рік тому +2

      I agree, tommi Makinen agrees, angry birbs agrees

    • @certaindeath7776
      @certaindeath7776 Рік тому +5

      Finland invented the Hydraulic Press UA-cam Channel. 9 out of 10

  • @Demiblood86
    @Demiblood86 Рік тому +363

    Your videos have recently pivoted away from insightful videos with detailed research to simple video summaries of countries not yet on your list. This takes away the quality aspect that made me watch in the first place.

    • @victorhs258
      @victorhs258 Рік тому +4

      its like t he used to be more S.W.O.T reports than the gloss over summaries we see now.

    • @ameyskulkarni
      @ameyskulkarni Рік тому +33

      This was one of the boring episodes. Like seriously, did he use ChatGPT or something?

    • @DiegoDiaz-iy7sf
      @DiegoDiaz-iy7sf Рік тому +7

      ​@@ameyskulkarniwas going to say this, sounds exactly like something chatgpt would write

    • @oceanwonders
      @oceanwonders Рік тому +3

      Was just gonna comment that this video's script sounds like a generic essay, one of those blog posts that get churned out for businesses that have no business creating a blog. Created just for SEO.

    • @dungeontnt
      @dungeontnt Рік тому

      You just can't have jokes in Finland... it's too serious

  • @daniellarson3068
    @daniellarson3068 Рік тому +990

    Finland recently completed the construction of a large nuclear plant. This means they will not have to import as much natural gas or other fuels. They are also the only country that has built a repository for high level nuclear waste. Certainly, their last nuclear plant was expensive, but in these inflationary times, that cost will certainly be inconsequential over time. Building that plant seems forward thinking.

    • @Tmb1112
      @Tmb1112 Рік тому +19

      Unless these inflationary times are followed by deflationary times

    • @akuankka321876
      @akuankka321876 Рік тому +66

      ​@@Tmb1112I highly doubt that.

    • @189Blake
      @189Blake Рік тому +15

      They will import uranium instead. Who owns most uranium in the world? 🤔

    • @HexaSquirrel
      @HexaSquirrel Рік тому +111

      @@189Blake Australia

    • @exosproudmamabear558
      @exosproudmamabear558 Рік тому +50

      Nuclear is much more better than clean energy it is fast,cost effective and cleaner than most energies. You can also use it for heating with using thermal energy that come out of it as central heating systems making gas and fuel need go down even further

  • @Firzenizer
    @Firzenizer Рік тому +392

    Nokia had a huge impact on Finnish economy. Their share of Finnish exports were like 20% for 10 years row. Not to mention all the indirect effects. For years Nokia employed like 1% of the population directly and who knows how many others indirectly. At best Nokia accounted for over 50% of the all patent applications in Finland.

    • @mammadjafarzade7687
      @mammadjafarzade7687 Рік тому +44

      dude did not do any research he just put there everything about eu and added couple random words that pulls up when u type Finland in google

    • @ArawnOfAnnwn
      @ArawnOfAnnwn Рік тому +67

      ​@@mammadjafarzade7687 Tbh this video sounded almost like an AI script or something. It didn't even match EE's usual approach to covering countries since he padded the time out quoting some generic drivel from a couple politicians that said nothing about economics, which doesn't figure in his other country profiles. Like I still don't even know much about what Finland makes exactly, besides Nokia. Forestry sure, but what heavy industry? What life sciences? It was all just blah all round.

    • @jaskapenttila7644
      @jaskapenttila7644 Рік тому +10

      @@ArawnOfAnnwn About the heavy industry we make some boats and steel in Outokumpu and then theres the chemistry with Kemira probaply still in the lead. But thats what a Finn would know tbh.

    • @ArawnOfAnnwn
      @ArawnOfAnnwn Рік тому +5

      @@jaskapenttila7644 Is that big? I've never heard of those companies. From what I do know shipbuilding is pretty dominated by the triad of Japan, Korea and ofc China. Dunno about chemistry much, but I know Dupont is huge there and it isn't Finnish.

    • @amarsven
      @amarsven Рік тому +18

      Nokia is still an important tech company with $26.5 billion revenue but doesn't produce consumer goods anymore. That is why everyone thinks Nokia has vanished.

  • @vandalpaulius
    @vandalpaulius Рік тому +308

    Hey EE team! Love your videos, but this one felt a little bit about nothing. I mean the same information was repeated multiple times and it felt quite a bit of a downgrade from your regular videos

    • @Blackdiamond2
      @Blackdiamond2 Рік тому +43

      Yeah I agree, a lot of the points and information was surface level at best, repeated numerous times and didn't seem that well researched at all. It's quite poorly written honestly, it sounds like some of the things I wrote in school when left it to the last minute and had a wordcount to hit lol

    • @easygoingdude9990
      @easygoingdude9990 Рік тому +4

      @@Blackdiamond2 haha it reminded me of school too lol.

    • @fredfredison7465
      @fredfredison7465 Рік тому +38

      It felt like it was written by ChatGPT...

    • @ameyskulkarni
      @ameyskulkarni Рік тому +6

      ​@@fredfredison7465Yeah that was exactly the feeling I got from so much of the video lol

    • @tj-co9go
      @tj-co9go Рік тому +2

      Very good for a video made by AI I agree

  • @teebrown27
    @teebrown27 Рік тому +75

    This video was wordier than usual.
    It took a lot of words to say very little.
    Was it AI generated?

  • @michaelblakemutschler594
    @michaelblakemutschler594 Рік тому +647

    This is like the most soft-ball EE episode I've seen. "Finland is basically perfect, but must continue to be perfect or else they will risk becoming imperfect" 😅

    • @AL-lh2ht
      @AL-lh2ht Рік тому +59

      Also there are a whole bunch of minor errors

    • @MorgurEdits
      @MorgurEdits Рік тому +38

      ​@@AL-lh2htNot minor he got at least 2 figures totally wrong maybe even more if I would bother to check

    • @ameyskulkarni
      @ameyskulkarni Рік тому +81

      One of the boring episodes imho. Half of it seems like it was written by ChatGPT tbh

    • @tacobell1365
      @tacobell1365 Рік тому +5

      @@ameyskulkarni My guess is that his working a big video and he doesn't have time for others, so he just probably has a list of easy quick ones to make that will still grab people's attention.

    • @ameyskulkarni
      @ameyskulkarni Рік тому +21

      @@tacobell1365 If that's the case then he should take a break or something. There's no need to put out lower quality stuff every few days. I don't mind waiting longer if the videos are actually good

  • @-AxisA-
    @-AxisA- Рік тому +186

    This is a video only a foreigner can make about Finland.

    • @RK-cj4oc
      @RK-cj4oc Рік тому +3

      Why?

    • @M0ree
      @M0ree Рік тому

      @@RK-cj4ocFinns like to complain about the system all the time. Especially those who lack international perspective. I’m sure thats the case here as well.

    • @ArawnOfAnnwn
      @ArawnOfAnnwn Рік тому +66

      @@RK-cj4oc ​Cos it sounded almost like an AI script or something. It didn't even match EE's usual approach to covering countries since he padded the time out quoting some generic drivel from a couple politicians that said nothing about economics, which doesn't figure in his other country profiles. Like I still don't even know much about what Finland makes exactly, besides Nokia. Forestry sure, but what heavy industry? What life sciences? It was all just blah all round.

    • @christianandersson3647
      @christianandersson3647 Рік тому +23

      Yeah, agreed didn't even mention our rising debt. Could have atleast compared us to our neighbor's

    • @ricardo12472
      @ricardo12472 Рік тому +14

      @@ArawnOfAnnwn this summarise most EE videos. When EE makes videos about the countries I lived and know about, it’s easy to see it’s extremely oversimplified. So it’s not necessary saying wrong details, but it’s misleading by omission.

  • @KeijoAmbersson
    @KeijoAmbersson Рік тому +361

    EE, the way middle earner income tax is calculated maybe different from what I intrepret, but I'd say it is DEFINITELY NOT 46%.
    I'm finnish, born and raised, work as an engineer in the mentioned forest tech industry. Here's rough example of my tax info.
    I make 4k € a month, a bit more if we count the optional reward system my employer uses. That would make my hourly salary 25 € / h on a 40 hour workweek, which is bang on the average wage you claim here. And the workweek really is 40h. If we work more hours, the hours get banked and we can extract them later as days off, or paid out with overtime pay added on top.
    My total tax% is 22%. If I earn over 50k a year due to bonuses etc. the tax rate for the amount over 50k will be 41,5%. But ONLY for the amount OVER the yearly limit.
    If I want a higher yearly limit, I can then pay a bit more over the year, say 23 or 24%.
    So maybe you confused the income tax rate with the "penalty" tax rate for going over yearly earning limit? IDK.
    But I feel like it's very IMPORTANT to get the correct idea to all kinds of political entities, that the price tag of Nordic social democracy is not as high as some people make it out to be and demonize it.
    For North Americans etc. the tax rate may still sound high compared to the amount I earn. But remember, this level of taxes has also brought about ton of free public services.
    Examples from my own life.
    - My engineering degree was paid fully by the state. I only had to buy the books, and most of those you can get used.
    - While I studied I focused on it during school season, worked during summer and holiday seasons. My income was subsidized by the goverment, with "student help" fund and housing fund. I also took some goverment backed studying loan with favorable interest. I paid it fully back after couple of years in the workforce, so the amount was nothing like the horror stories of USA student debts.
    - I am type 1 diabetic (inherited diabetes). The state pays for most of my insulin, I only have to pay a small collateral couple of times per year.
    - Public school education I received was very good, even in that small town shcool I attended.
    I come from a low income rural household. Without these state support systems, I don't know how my life would have turned out.
    EDIT: If we also add Pension and Social Security cost, they add 8,65% to the tax rate. So my total income deductions are 30,65%. I don't know why finnish salary data keeps these separate, did not mean to mislead. People have also pointed out that there are costs on employer side, which is true.
    I do maintain the benefits far outweight the costs as long as the tax money goes to correct places. Education, healthcare etc. And the pricetag for the average voter joe still isn't nearly as bad as some would make you believe.

    • @cofe2544
      @cofe2544 Рік тому +33

      really interesting to hear! W comment.

    • @mr.paperbag771
      @mr.paperbag771 Рік тому +50

      You are completely in the right. I know a person who earns a tad bit more than you and even his tax is still around 30%.
      To have a 46 as a tax percentage, you would have to earn 100k a year or maybe even more than that.

    • @SilentEire
      @SilentEire Рік тому +1

      Does Finland use a progressive tax system? Is so, is one of the rates 40% or greater? I’m genuinely asking, that could be where the confusion lies. What’s the VAT rate also?

    • @KeijoAmbersson
      @KeijoAmbersson Рік тому +37

      @@SilentEire Yep, it is a progressive system. But EE's claimed number still confuses me, since I am bang on a middle income earner. Maybe it's calculated somehow by adding all of the goverments tax income and the divided by amount of taxpayers? That would skew the number via the top earners paying a lot more.
      VAT is 24% on common goods. Cigarettes, alcohol, sweets etc, are taxed higher. As is gasoline.

    • @paavoilves5416
      @paavoilves5416 Рік тому +23

      The average wage EE claims is WAY higher than in reality. Average wage in private sector in 2021 was 16,8€/h. The median income is somewhere around 3,3K€.

  • @Libertarian1111
    @Libertarian1111 Рік тому +157

    Interesting video
    I would love to see you doing a video on Finland's southern neighbor of Estonia
    While its still poorer than its northern neighbor, its growth over the last 3 decades has been spectacular, and is quickly catching up with its northern neighbor

    • @northernandyboy
      @northernandyboy Рік тому +6

      Totally supported! Estonia is a powerhouse. It has the lowest public debt in Europe and also has a very interesting tax system for businesses where only equity withdrawals are taxed making the government an effective investor in all businesses.

    • @benbaselet2026
      @benbaselet2026 Рік тому +4

      Estonia might be a pretty good model for a lot of developing economies and a true success story.

    • @Muhammad_Ahmad_
      @Muhammad_Ahmad_ Рік тому

      Estonia is a mini state with less than 2 million people. I can't see any excuse for such countries not implementing good policies that stimulate economic growth

    • @benbaselet2026
      @benbaselet2026 Рік тому +2

      @@Muhammad_Ahmad_ And why do you think larger countries have reasons to implement bad policies that willfully stagnate growth and increase suffering?

    • @Muhammad_Ahmad_
      @Muhammad_Ahmad_ Рік тому

      @@benbaselet2026 I'm not saying big countries have an excuse to implement bad economic policies, but it is much easier for smaller countries than bigger ones. A small country can get a single area of specialization and build its economy around that thing, the revenue generated is enough for the country's little expenses, as for big countries, they cant depend on a single or few industry for development

  • @jakubwijata5457
    @jakubwijata5457 Рік тому +559

    I think EE discovered ChatGPT. Most “scripted” video yet.

    • @B21_raider
      @B21_raider Рік тому +96

      Exactly no details of the so called innovations

    • @B21_raider
      @B21_raider Рік тому +9

      Exactly no details of the so called innovations

    • @jakubwijata5457
      @jakubwijata5457 Рік тому +83

      Yes it is unfortunate. As someone working in media myself I realise how many of these outlets/channels fire necessary workforce and become fully dependent on AI, which clearly yields mixed results. Quality >>> quantity.
      I certainly hope EE won’t go that route, as it will plummet the brands credibility and product quality. And I really like EE…

    • @Stilllife1999
      @Stilllife1999 Рік тому +17

      I was just wondering the same thing. Didn't want to be the one to comment it though thinking it might be rude

    • @pekka405
      @pekka405 Рік тому +23

      it does sound like something I would've written up in a weekend for a first year assignment in uni, even without the use of chatgpt. Sadly it seemed that it only skimmed the surface of the subject.

  • @evan
    @evan Рік тому +38

    I was super impressed by my recent trip to Tampere, Finland but lord the amount of snow was INSANE

    • @conto7032
      @conto7032 Рік тому +8

      Don't lie Finland doesn't exists.

    • @Byrzzaa
      @Byrzzaa Рік тому +6

      Though region where the city of Tampere is located gets a small amount of snowfall compared with other regions. 😅
      But yeah, I'd definitely recommend visiting Tampere in summertime too.

    • @codenamezz9993
      @codenamezz9993 Рік тому

      Did you like your trip to Tampere and would you see Finland has a foreseeable country to live in?

  • @NIL0S
    @NIL0S Рік тому +21

    I'm a Finn and during most of this video I went like "wat".

  • @philipberthiaume2314
    @philipberthiaume2314 Рік тому +406

    Finland bases speeding tickets, perhaps more, on someone's income instead of a flat fee. This forces ppl of all income brakets to pay equally for breaking traffic law. There have been tickets assessed in the hundreds of thousands USD. In a poll, 2/3rds of Canadians were also supportive of a similar system.

    • @33andy33gmail
      @33andy33gmail Рік тому +25

      Imagine if that happened for Partygate ...

    • @slz_dawn3655
      @slz_dawn3655 Рік тому

      @@33andy33gmailboris’ income 📉📉📉

    • @breezyx976
      @breezyx976 Рік тому +50

      That's awesome, it means I can speed without worrying about getting fine since I have no income!

    • @akuankka321876
      @akuankka321876 Рік тому +22

      To be honest, flat free is more equal since you pay the same amount. Finland's system (where people are fined accordingto their income) is unequal, but it works better than the "equal" flat fee in many other countries. For example, for poorer people 100$ ticket is a lot more and hurts a lot more that the same 100$ fine for rich people.

    • @-AxisA-
      @-AxisA- Рік тому +13

      Yea and the biggest ever speeding ticket was issued here and it was for a race driver. It was like 200k€ :D

  • @Luminon87
    @Luminon87 Рік тому +45

    This edition was a bit generic as far as these things go, could just as well have been a list of Finish government talking points. Also at 1:35 I was surprised to see the lack of growth over the last decade pass by unremarked.

    • @Tuppoo94
      @Tuppoo94 Рік тому +16

      This was an underwhelming video. Usually EE puts in a lot more effort.

    • @ArawnOfAnnwn
      @ArawnOfAnnwn Рік тому +10

      @@Tuppoo94 ​Tbh this video sounded almost like an AI script or something. It didn't even match EE's usual approach to covering countries since he padded the time out quoting some generic drivel from a couple politicians that said nothing about economics, which doesn't figure in his other country profiles. Like I still don't even know much about what Finland makes exactly, besides Nokia. Forestry sure, but what heavy industry? What life sciences? It was all just blah all round.

  • @wsxgfhccr
    @wsxgfhccr Рік тому +42

    "newcomers arriving from a diverse range of countries"
    Yeah I'm sure underdeveloped, Middle Eastern countries are very diverse

    • @BirdEgg123
      @BirdEgg123 Рік тому +15

      Pick your flavour of kebab

    • @ryoukwjdbwopqmqpzl73819
      @ryoukwjdbwopqmqpzl73819 Рік тому

      Not all scandanavia is cucked like swedistan

    • @Rainforestdelight
      @Rainforestdelight Рік тому +15

      Hopefully the new right wing coalition government will put an end to this.

    • @sampohonkala4195
      @sampohonkala4195 Рік тому +4

      In reality, I work in a well paying field and out of the staff 1/3 are immigrants. They are mostly from other European countries and North America. People who actually work with foreigners know that they come from almost every continent.

    • @ArawnOfAnnwn
      @ArawnOfAnnwn Рік тому +3

      Most immigrants into Finland are other Europeans. Albeit eastern Europeans...

  • @xeozim
    @xeozim Рік тому +100

    Finnish universities hold spots 101, 201, 401, 501, 601, 701, and 801 on the world ranking that's so weird

    • @mikitz
      @mikitz Рік тому +42

      They are the number one in each hundred, at least that's something to brag with.

    • @yuki-sakurakawa
      @yuki-sakurakawa Рік тому +14

      Sounds like american uni classes (ECON 101, 201, etc) 😂

    • @anttikaipainen6072
      @anttikaipainen6072 Рік тому +12

      What the h***! Who has the 301 😂

    • @KingLarbear
      @KingLarbear Рік тому +1

      ​@@anttikaipainen6072lol

    • @skua675
      @skua675 Рік тому +16

      I think this might have been placeholder data that was never filled in. The actual rankings from QS right now are:
      Helsinki: 104
      Aalto: 112
      Turku: 295
      Jyväskylä: 358
      Oulu: 377
      Lappeenranta-Lahti: 414=
      Tampere: 414=

  • @mikkolukas
    @mikkolukas Рік тому +75

    Finland is also quite strong within tech and game development

    • @tj-co9go
      @tj-co9go Рік тому +5

      Very much. Nokia, Angry Birds, Supercell all come from Finland.

    • @Omit1tulliportin
      @Omit1tulliportin Рік тому +14

      @@tj-co9go Also a long list of successful console and pc games like Cities: Skylines and Max Payne series. Also while Nokia no longer dominates the smart phone market, they are one the biggest 5g suppliers in the world. Kind of sad people need to read 20 minutes of comments to get the same information EE used to provide in the video.

    • @kurolotus4851
      @kurolotus4851 Рік тому

      ​@@tj-co9goAlthough Supercell is now chinese-owned and Angry Birds is japanese-owned, but yes they come from Finland. Just like Elon Musk comes from South Africa and Peter Thiel from Germany😉

    • @tj-co9go
      @tj-co9go Рік тому +2

      @@kurolotus4851 well that's what I meant there a lot of tech start ups even if big capital ends up buying them

    • @Tespri
      @Tespri Рік тому

      @@tj-co9go entire point of making startup is to trick someone to buy them

  • @BezJones
    @BezJones Рік тому +112

    It's in the 94th percentile of gdp per capita but gets an 8 out of 10? Shouldn't it get at least a 9?

    • @flakgun153
      @flakgun153 Рік тому +9

      probably deserves lower because finland's economy has been stagnant for so long

    • @mr.paperbag771
      @mr.paperbag771 Рік тому +46

      @@flakgun153 GDP per Capita evaluation doesn't care if your economy is stagnant or not. It literally just checks where the GDPpC ranks on a global level.

    • @TK-qd5xw
      @TK-qd5xw Рік тому +6

      I think it makes sense. USA had 9/10 and USA's gdp per capita is a lot higher than Finnish GDP per capita and there is still a couple of countries that have a lot higher of GDP per capita than the US (Switzerland, Norway, Luxembourg etc.) to whomst 10/10 is reserved to

    • @user-pakshibhithi10
      @user-pakshibhithi10 Рік тому +1

      I think EE gives 9/10 for GDP per capita to a country only if it's in the Top 10 to Top 14, I think it's justified.

    • @Blackread
      @Blackread Рік тому +4

      I wouldn't put much emphasis on the leaderboard anyway 😂

  • @anderskorsback4104
    @anderskorsback4104 Рік тому +8

    Finland's industrial development owed historically a lot to preferential access to the Russian market, both during Imperial and Soviet times. Imperial Russia was large and even more backward, making for a large market with relatively little competition. The Soviet Union was an industrial powerhouse in some sectors (like heavy industry) but so-so in others (like consumer goods), providing a competitive niche for Finland on a market it had access to due to Cold War neutrality. Finland also got really cheap oil from the Soviet Union. Nowadays Finland doesn't have said Russian advantage anymore due to sanctions, but fortunately Finland has developed to the point of not needing it anymore for its prosperity.

  • @swordcat
    @swordcat Рік тому +39

    Was this written or read by an AI? feels different from your other videos

    • @lajya01
      @lajya01 Рік тому +6

      It did feel less researched and a little boring.

    • @ArawnOfAnnwn
      @ArawnOfAnnwn Рік тому +9

      Yep it sounded almost like an AI script or something. It didn't even match EE's usual approach to covering countries since he padded the time out quoting some generic drivel from a couple politicians that said nothing about economics, which doesn't figure in his other country profiles. Like I still don't even know much about what Finland makes exactly, besides Nokia. Forestry sure, but what heavy industry? What life sciences? It was all just blah all round.

    • @Blackdiamond2
      @Blackdiamond2 Рік тому +7

      That's actually possible, I thought this one read extremely poorly and seemed very surface level with lots of repetition. This could have absolutely been largely AI generated. Not to mention that it's quite different compared to all his other scripts.

    • @davieb8216
      @davieb8216 Рік тому +2

      EE by AI

    • @ameyskulkarni
      @ameyskulkarni Рік тому +3

      ​@@ArawnOfAnnwnPlus he didn't even talk about stuff like debt

  • @maartent9697
    @maartent9697 Рік тому +105

    Thanks EE for providing me procrastination whilst writing my report

  • @PetPulseTVHDxx
    @PetPulseTVHDxx Рік тому +28

    no man Finland is not redefining ecomomic success

  • @juliansebastian
    @juliansebastian Рік тому +41

    I was hoping this was going to be more about how Finland literally tries to redefine economic success by focusing on more indicators other than GDP

    • @ketsuppi
      @ketsuppi Рік тому +4

      Nahh just another capitalist centric view of succes and a happy life

  • @Nasherrrzzz
    @Nasherrrzzz Рік тому +16

    The tax rate of a middle earner is not 45%, I think that's fair to say that is a wild conclusion, would love to see workings out

    • @joetheprogrammer0
      @joetheprogrammer0 Рік тому +2

      Yeah, no idea where that number came from. Middle earner's income tax is more like 25%, unless this is calculating everything like pension contributions, VAT on everything you buy, with extra on fuel and alcohol, etc.

    • @har_7988
      @har_7988 Рік тому +1

      ​@@joetheprogrammer0actually income tax rates take social security contribution also into consideration while they are deducted separately but when someone says income tax he/she also refers to the social security. It doesn't sounds good but it is. But vat doesn't count in this. Currently the social security contribution is about 27-28% split between employee and employer in Finland

    • @qwormuli77
      @qwormuli77 Рік тому

      I think there might have been a mistake with the progressive tax rate in Finland, maybe? Middle earners can hit an income tax rate bracket around that area, but _only for the slice that exceeds the limit,_ not for the whole thing, so the total ends up way smaller.

  • @BirdEgg123
    @BirdEgg123 Рік тому +36

    Our economy hasn't grown since 2008, all the while our economy gets more unequal, has high inflation and a more bloated bureaucracy than ever before.
    Finland's average isn't 25€/hour, closer to 15€ an hour. Innovation is quite lacking in here, especially after the hay-days of the 2000s. A good 90% of consumer services here are foreign.
    You give Russia a highly exaggerated role for our economy, compared to what you didn't cover, actual issues we have here, such as fiscal deficits, austerity and a tight job market.

    • @darshilmashru8479
      @darshilmashru8479 Рік тому

      Heyday*

    • @TheHeavyModd
      @TheHeavyModd Рік тому

      Exactly, and excellently summarized. Finland's problem is two-fold: languishing economic growth, and an inverse population structure. Finland's problems are slowly beginning to manifes and the trajectory is clearly visible in the development of our debt/GDP ratio. Growth is limited so GDP is not rising, and debt in response is rising faster to make up for the lack of "natural" growth. It's still a lot healthier than many of other European nations like Italy, but the direction is clear. Finland is on the way out unless it finds a way to get back on the driver's seat of its own economy.

  • @mrstraiban
    @mrstraiban Рік тому +96

    "Like other Scandinavian countries" Finland is not a Scandinavian country but it is one of the Nordic countries.

    • @cinderellaandstepsisters
      @cinderellaandstepsisters Рік тому +5

      In many languages Scandinavia means Nordic. Finland is a Nordic country and a member of Nordic council. No differences.

    • @butterflies655
      @butterflies655 Рік тому +2

      Partly it locates on Scandinavian peninsula.

    • @BOT_Nips
      @BOT_Nips Рік тому +10

      ​​​@@butterflies655You're thinking of the eastward extended Scandinavia, called Fennoscandia. Scandinavia includes only the Scandics on the Scandinavian peninsula (duh), and Finland is over on the other side of the Gulf of Botnia.

    • @johnr797
      @johnr797 Рік тому

      ​@@BOT_Nipsah, you beat me to it

  • @valentinmeidl8296
    @valentinmeidl8296 Рік тому +15

    Was the script for this video written with chat GPT? it really sounds like it

    • @ameyskulkarni
      @ameyskulkarni Рік тому +5

      Most of it didn't really even talk about economics! He didn't mention any real economic information like debt levels or whatnot

    • @valentinmeidl8296
      @valentinmeidl8296 Рік тому +3

      @@ameyskulkarni indeed and it was filled by a bunch of individual short sentences glued together

  • @stevenrafa1
    @stevenrafa1 Рік тому +52

    Maybe finland was good at innovations during old days, but now finland is lagging behind in innovation since the fall of Angry Birds, Nokia, there's no innovation over there.

    • @MartinNew14
      @MartinNew14 Рік тому +8

      True

    • @preetjitsingh328
      @preetjitsingh328 Рік тому +8

      Not Nokia. Like what they have been doing for centuries, it just change what the company wants to do.
      They are # 3 in the world in wireless access points, #2 in SDN, largely due to China, #2 in backend Mux etc.
      Nokia is very good at what they do.

    • @MommysGoodPuppy
      @MommysGoodPuppy Рік тому +14

      finnish tech industry is very hard at work in electric cars, telecommunication and clean energy. sure things like 5G, sms and linux are less visible than angry birds and nokia phones but innovation in finland continues at a normal pace

    • @yayaya4345
      @yayaya4345 Рік тому +4

      Those are just big brands. Rather look at things like patent applications.

    • @akuankka321876
      @akuankka321876 Рік тому

      Finland is literally in top 10 of the whole world in innovation. I have no idea where you got that Finland has no innovation...

  • @wertywerrtyson5529
    @wertywerrtyson5529 Рік тому +27

    Finland seems to have managed a lot better than us neighbours in Sweden. We haven’t managed to integrate the immigrants at all. Have the worst statistics for shootings in Europe and our currency have fallen a lot in recent years. Our schools keep having issues. We used to be better than Finland and now we are far behind. We could learn a lot from Finland but it seems we just look at the US in the last decades.

    • @solidfuel0
      @solidfuel0 Рік тому +6

      Immigration in Sweden has made big economy development. In Finland we are behind due to closed doors policy

    • @byloyuripka9624
      @byloyuripka9624 Рік тому

      is it the finns or the immigrants fault? merkel imported a bunch of people from a specific area and its your fault 😂

    • @solidfuel0
      @solidfuel0 Рік тому

      @@byloyuripka9624 it's difficult problem to solve. Importing only skilled migration will cause brain drain from the source counter which means only low iq and barbershop people exists. Which makes them want to immigrate for a place with skilled people and services...

    • @n1ls53
      @n1ls53 Рік тому +18

      @@solidfuel0 "immigration from other European and white countries have made big economic development" - here, I fixed it for you.

    • @solidfuel0
      @solidfuel0 Рік тому

      @@n1ls53 white countries? I have to report you for clear racism. I can fix it for you "white colonisation and stealing other counties has brought wealth and development "

  • @vem9583
    @vem9583 Рік тому +60

    A couple of points from a Finn;
    1. Finnish economy has been very stagnant, especially after the 2008 recession. Our gdp is about the same as it was 15 years ago. Meanwhile all our neighbours (Sweden, Norway, Denmark) have managed to grow their economies in the same time period.
    2. The first point may be explained by a lot of factors, one being our lower amount of immigration. 11% in Denmark are foreign-born, 16% in Norway and 20% in Sweden, while it’s around 9% in Finland. We also have an older and more rapidly aging population which hinders the economy.
    3. The newly elected government has vowed to cut spending by €4 billion. Most of this will come from unemployment benefits and other benefits which mostly involve the youth and lower income individuals. The Prime Minister promised to not cut from education even though he promised the same thing in the 2015-2019 government and still cut from it. His party even proposed that they would make Finnish citizens pay for their degrees. This is expected to be Finland’s most economically right-wing government since the 1930s.
    4. The far-right Finns Party comprise almost half of the new government. Their only demands are to cut immigration and reject climate change goals (we were commited to being carbon neutral by 2035, Finns Party thinks it is not necessary until the 2050s). This will reverse the positive effects of the Marin government where we invested in green economics and immigration.
    5. Unemployment has actually been quite high and the highest in the Nordics. During Marin administration employment rose quite a lot. The new government wants to do the same by forcing everyone to low paying jobs by cutting benefits.
    6. Though our salaries are not the highest in Europe, Finns still enjoy a very high quality of live, certainly higher than the US, France or UK. Education is free (for now atleast), healthcare is mostly free and we have plenty of safety nests, so that if we lose our jobs (like during covid) it doesn’t make us homeless or anything.

    • @santar5006
      @santar5006 Рік тому +15

      Another Finn here, this is a very good, accurate analysis

    • @bodaciouschad
      @bodaciouschad Рік тому +9

      Thanks for the Finnish perspective! The way EE described your country sounded more like Candyland than reality.

    • @mammadjafarzade7687
      @mammadjafarzade7687 Рік тому +7

      @@bodaciouschad IMHO all of their research went on to title, then they tried to find a country that suits title I guess

    • @jokuvaan5175
      @jokuvaan5175 Рік тому +3

      The new government also plans to decrese state's revenue by cutting taxes (most of which would go to the rich of course) and by selling government's shares in businesses as well as government owned lands and properties.

    • @milkdrinker7
      @milkdrinker7 Рік тому

      Without the Soviet Union to scare Finnish capitalists into granting concessions to workers, the country is doomed to fall into the usual capitalist pattern of short-term profit-driven madness.

  • @SigFrid1985
    @SigFrid1985 Рік тому +19

    I really would like to watch Norway and Portugal placed on that EE leaderboard.

  • @ismailnyeyusof3520
    @ismailnyeyusof3520 Рік тому +10

    2:03 Malaysia also has three of these natural resources, timber, water and minerals, in somewhat abundance but we need to make the fourth also abundant to become more like Finland!

  • @spurguvitunhuora9119
    @spurguvitunhuora9119 Рік тому +7

    Ill tell how the ranking goes to those that dont bother to watch this through:
    Most metal bands in the world per capita. 11/10 in everything. This puts Finland first on the leaderboard.

  • @Zei33
    @Zei33 Рік тому +24

    Australia gdp per capita 62k 8/10
    Finland gdp per capita 52k 8/10
    The rating system is pretty ridiculous.

    • @TheAlternative_27
      @TheAlternative_27 Рік тому

      He must just Be doing it for fun. I don't think this Guy should Be taken seriously with his Bad AI script.

    • @hyljix
      @hyljix Рік тому

      I suppose you have to look at other services of the country and what you get for that money

  • @hansderhalbe9229
    @hansderhalbe9229 Рік тому +12

    This sounds like at least part of this script was written by ChatGPT

    • @ameyskulkarni
      @ameyskulkarni Рік тому +4

      Didn't even including actual economic stuff like debt levels smh

  • @Max-ts1jx
    @Max-ts1jx Рік тому +9

    Excellent video!
    Would love to see a video on Finland's western neighbor and the largest of the esteemed Nordics, Sweden. And how recent immigration, political, and NATO developments have affected its economy.

    • @Hjiel
      @Hjiel Рік тому +2

      You're in luck. That video has been out for years already. Obviously not with recent developments though.

  • @dh510
    @dh510 Рік тому +35

    The fact that Germany has the top spot in the education index and that 7 out of the 10 top universities in Finland have a ranking that ends in -01 and two others have one that ends in -51 makes me believe that these statistics/rankings are botched...

    • @blahbleh5671
      @blahbleh5671 Рік тому +3

      I don't think it's just about how the unis rank in tje world. We shiuld probably look at how those rankings are judged.

    • @yayaya4345
      @yayaya4345 Рік тому

      Funny coincidence now that youve pointed it out

    • @mr.paperbag771
      @mr.paperbag771 Рік тому

      That -01 means 101 or lower in ranking. If top 7 German universities are at least somewhat higher than that, they deserve their higher ranking, statistically speaking.
      Personally, Finland takes the W

    • @Sahtoovi
      @Sahtoovi Рік тому +2

      I have no idea how the education index works, but anecdotally as someone who is finnish and has multiple german friends, I'm relatively certain that the finnish educational system is better.

  • @blinking_dodo
    @blinking_dodo Рік тому +54

    Why is there so much focus on economical growth?
    Stability is much more important in my opinion.

    • @hankhillsnrrwurethra
      @hankhillsnrrwurethra Рік тому +19

      Peter Zeihan talks a lot about how in the near future these models will break, because an environment of growth is the only way they work. And global 'shrinking' is here.

    • @kingofhearts3185
      @kingofhearts3185 Рік тому +9

      Japan has been there for years, so we're starting to see how that goes.

    • @jessec.8052
      @jessec.8052 Рік тому +3

      Growth is important IF people are having kids and the population is growing, at whatever pace that may be

    • @akseli1111
      @akseli1111 Рік тому

      The government debt will not be stable if there is no economic growth.

    • @blinking_dodo
      @blinking_dodo Рік тому +2

      @@akseli1111 I just realized how poisoned the current era's economical thinking is: you have already *assumed* that debt is a given.
      A good nation doesn't have debt, but is growing their financial buffers instead.
      Perhaps even converting to gold, so it can use that to back it's currency.

  • @solidfuel0
    @solidfuel0 Рік тому +5

    You got the public health sector wrooong. It's so bad and waiting times are 3-4 months to see specialist or have operation

    • @quickcube2834
      @quickcube2834 Рік тому +1

      Only 3-4 months in Germany you wait 1-3 years

  • @Vakovakovv
    @Vakovakovv Рік тому +22

    Finlands economy reached 2008 levels only in 2022 after the financial crisis. Thus it is funny the video says finland has had troubes recovering from covid.
    Finland has one of the lowest income equality in the world, thus that cant of been a issue for the finnish economy.
    The outgoing Sanna Marin goverment had budget deficits of 10 billion euros per year.
    Finnish household wealth is the lowest in western europe excluding portugal & greece.
    The finnish economy has been strong up till the iphone. But since has not been able to keep up, as nokia crashed.

  • @TheSilentCartgraph3r
    @TheSilentCartgraph3r Рік тому +51

    This script sounds like it was written by AI

  • @ariochiv
    @ariochiv Рік тому +5

    Unless I'm mistaken, the whole reason that Finland joined NATO was because they feared an unprovoked invasion by Russia (which, it should be pointed out, Russia has done before). So to blame NATO membership for the threat of future conflict seems to me to completely miss the point.

  • @hipithautaa
    @hipithautaa Рік тому +2

    Finally! Been waiting this forever.

  • @chedabu
    @chedabu Рік тому +32

    Immigration is a double edged sword since Finland's success is based so much on its culture...

    • @kawartie
      @kawartie Рік тому

      There are pakistani’s people migrating to Finland using fake certificates and why the Finnish government is not doing anything to protect its sovereignty(there are thousands of UA-cam video of showing how to get to eu countries with fake certificates)

    • @lajya01
      @lajya01 Рік тому +7

      I think the only reason big social nets worked in Scandinavia while they failed everywhere else is because of their homogeneous populations. Oversee immigration will certainly affect the social cohesion and increase political cynicism, corruption, tax evasion, etc... But they don't any choice with an aging population.

    • @ArawnOfAnnwn
      @ArawnOfAnnwn Рік тому +7

      @@lajya01 Most immigration into Finland is from other Europeans. Albeit eastern Europeans...

    • @AL-lh2ht
      @AL-lh2ht Рік тому

      As we all know immigrants do not mix with the culture they immigrate to.
      Got to keep the racially superior race pure. /s

    • @quickcube2834
      @quickcube2834 Рік тому

      @@lajya01 of course they have a choice, but you don’t see it, think about it, the solutions without immigration and without coercion are right in front of you, you only Need to open your eyes.

  • @justskip4595
    @justskip4595 Рік тому +30

    For someone from Finland hearing positive things about Finnish economy is crazy. Over half of over 30 year olds I know struggle to find any job or if they do, anything that pays even double their rent. Cost of living is horrid here.
    We keep on hearing how good we are supposedly doing compared to others which makes us wonder: How bad can it be elsewhere? I do not know a single happy person, just a lot of miserable people pushing through life because there are no other options.
    Again: Finland is not Scandinavian country like those 3 west of us that are Parliamentary monarchies with very similar languages, cultures etc. It's like calling Indians Anglosaxons because they were colonized by british or calling Spain African country as it is next to Africa. We wouldn't be falsely called Scandinavians as often if we had been occupied by soviet union till early 90's.
    Finland was never neutral. Strongest argument when Finland was neutral would be for couple of year in between collapse of soviet union and joining of EU but I would argue it was transnational period.

    • @daniellarson3068
      @daniellarson3068 Рік тому

      No happy people in Finland? Whose fault is that? It's Summer. Long days. Sunshine. Blue Skies. Berries in the woods. Fish in the lakes. You people fire up Saunas on the weekend. Come on. Life is good. And, I've never been within 1,000 km of Finland.

    • @mr.paperbag771
      @mr.paperbag771 Рік тому +3

      As a Finn living in the UK, much worse.
      They have a housing crisis and while they acknowledge it, they refuse to do anything meaningful to help it. Finnish government at least tries to help (whether or not what they are trying helps is up to debate but 10 points for trying).
      And I would say that Finland has been cautious neutral. They always knew that Russia was a threat but they saw it better in the post-WW2 world to not take a side. Finland kind of double dipped in both the EU and Russian markets and it worked well until it didn't. But I agree that Finland was never truly neutral and it was largely situational neutrality.

    • @Finkaisar
      @Finkaisar Рік тому +1

      You dont know any happy people?
      Finland is once again the happiest nation on earth, we have things better than in almost every country. But standards are so high so even fin can feel ''sad''.
      Just because you think things arent so good, just compare to other countries to know things are not so bad.

    • @paavoilves5416
      @paavoilves5416 Рік тому +9

      @@Finkaisar The "happiest nation on Earth" doesn't really measure happiness like actually feeling happy, it's more about being content. Most people here own very little of anything and doing anything is expensive. The upside is that most people don't have to starve so everyone is kind of alright even though they're kind of miserable. Nature is beautiful though.

    • @Finkaisar
      @Finkaisar Рік тому +1

      @@paavoilves5416 I cant relate with that, everyone i know are happy and have enough money for really anything they need.
      I make 16.5e/hour and i still have plenty of money monthly. im 22

  • @francozisch
    @francozisch Рік тому +61

    It's a good day when Economics Explained uploads.
    This is commonly said, but I'm baffled on how I can watch such high quality and entertaining content for free.
    Truly a connected world we live in.

    • @francozisch
      @francozisch Рік тому

      Thank you EE ❤

    • @captrobmiller6095
      @captrobmiller6095 Рік тому +12

      When something is free, youre the product. In this case, you are the product for ad companies

    • @francozisch
      @francozisch Рік тому +1

      @@captrobmiller6095 I understand this concept but it's better than having to pay a monthly subscription of some sort to have access to this content. And you can get an adblocker to block the ads which is also free.

    • @tj-co9go
      @tj-co9go Рік тому +3

      This was a low-quality video

  • @Libertarian1111
    @Libertarian1111 Рік тому +9

    I Don't know which ranking you are using, but Finland does NOT rank first On PISA education index
    It ranks between 5 and 15
    even Its poorer southern neighbor of Estonia ranks ahead of them

    • @butterflies655
      @butterflies655 Рік тому +2

      This is true. Finland's ranking has dropped. It is still in the top ten.

  • @jonjeckell
    @jonjeckell Рік тому +4

    A few points seemed a little misleading. Finland had neutrality imposed on it by Russia since World War II. NATO membership reduces the security threat to Finland because it forecloses the kind of attacks seen on other Russian neighbors because they are now protected under Article V through mutual defense of all alliance members.

  • @lolollololoollllllll
    @lolollololoollllllll Рік тому +1

    economics explained has just uploaded, my hangover is cured

  • @estgaming732
    @estgaming732 Рік тому +14

    Please do EE a to z where you briefly talk about a countries economy. Day 1

  • @africanboi4542
    @africanboi4542 Рік тому +375

    Whatever you try to get money, always have a plan of what to expect but prepare for risks, understanding this one information saved me from losses I wasn’t prepared for, opening a Stock portfolio with £10 k gives at least £4 k in profits monthly from several commodities and equities.

    • @lucianoboccedi
      @lucianoboccedi Рік тому +5

      The one thing with Stocks is if you haven't fully tried it you might never believe it is even more profitable, but then nobody has time to invite you to the vault when they can pack all the gold.

    • @evitasmith6218
      @evitasmith6218 Рік тому +4

      @@lucianoboccedi That is grand! Can you connect me with your advisor?? I've got about $50k in my bag, I'm looking forward to investing.

    • @lucianoboccedi
      @lucianoboccedi Рік тому +3

      @@evitasmith6218 I usually go with registered representatives. ELEANOR ANNETTE ECKHAUS for example she has the best performance history (in my opinion) and does offers 1v1 consultation to her copiers which I think is amazing. I don’t know how many traders like that are there..

    • @adenmall7596
      @adenmall7596 Рік тому +2

      @@lucianoboccedi Thank you for this referral! i just looked her up and sent a message hoping she gets back to me.

  • @Alex-pr6zv
    @Alex-pr6zv Рік тому +4

    Finnish pharmacauetical companies include Orion, Fermion, Vitabalans and Galena, many operating out of Espoo.

  • @alehaim
    @alehaim Рік тому +4

    One of the biggest challenges for Finland's success has been the gutting of the education budget during the recession, which in addition with education policy leading to the dropping of education results. As Finland's economy success folowing the end of the cold war was basically built on innovation in technology, and the the cuts made to the education budget by the government which includes the current ruling party are basically chipping away at Finnish education's quality overall.

    • @GTAVictor9128
      @GTAVictor9128 Рік тому +3

      So basically, Finland's success has been thanks to progressive policies from the Social Democrat party, but since the conservative party took over, they've been chipping it away through forced austerity?
      You know, the US had a similar situation. Wealth inequality was sky-high during the 1920's which coincided with immense poverty rates, but then the government introduced Keynesian policies to build a stronger welfare system, and the economic situation improved with it reaching its peak in the 1950's. Then Reagan took over and gutted the welfare system and enforced many other austerity measures, which coincided with the decline in the quality of life of citizens.
      It's almost as if welfare and universal healthcare and education is actually good at helping build a more equitable society, while undoing those things does the opposite.

    • @noneofyourbusiness4830
      @noneofyourbusiness4830 Рік тому

      Sounds like having smart kids is expensive.

    • @TheAlternative_27
      @TheAlternative_27 Рік тому

      ​​@@GTAVictor9128Just wanted to tell you that this Guy is spreading false information. The new conservative goverment has Said COUNTLESS Times that they Will NOT cut spending on education. Funny to see how these lefties are spreading false news all The Time. The people who vote for those unresponsible kids are absolutely crazy. They've Been running -10 billion€ budget deficit per year. And some still support those unresponsible kids just because their women and we "need" More women in The goverment. Thanks god we got this new goverment so se can at least Have hope at saving this country.
      And yes I'm Finnish and I know what I'm talking about. Voted for The current biggest ruling party in goverment KOK.

    • @visapesonen7100
      @visapesonen7100 Рік тому

      It's a longer term development, to be honest. PISA scores have been on decline last 20 years and many young people do not get e.g. proper reading and writing skills from school. 15 years ago quite few students needed student loans to make studies possible, now a loan or heavy time investment to part-time job is almost a must.

    • @kurolotus4851
      @kurolotus4851 Рік тому

      I guess Finland has cut university education budget since 1989...

  • @zeikkari
    @zeikkari Рік тому +9

    While higher education itself is free in Finland most students do graduate with student debt. You still have to pay for housing and everything else.
    Most students work part-time and or withdraw a government backed student debt. If you graduate on time you can get up to 40% of your total debt forgiven. So nothing like US student debt but still debt.

  • @Alazare1
    @Alazare1 Рік тому +6

    Nice ChatGPT script. All fluff and descriptions, no substance. Repeating talking points multiple times.

  • @creounity
    @creounity Рік тому +55

    To the best of my knowledge, Finnish timber production is shrinking dramatically, lately.

    • @Kennon959
      @Kennon959 Рік тому

      A lot of the timber came from Russia which was a cheap source alternative to wiping out their own forests and damaging their eco credentials

    • @Saksikoipi
      @Saksikoipi Рік тому +7

      No, it is not. In 2021 which is the latest available statistic, over 85 million cubic meters of roundwood was felled. It is the largest amount in history. Climate change is going to increase production, due to the longer growth season. New environmental laws could change the situation, but the newly elected government has stated, that their goal is to keep the production on similar levels.

    • @Tsuchimursu
      @Tsuchimursu Рік тому +6

      that was in big part due to everyone trying to cash out on the great prices, and to get their logging done in face of talks on tightening regulations. I doubt it'll be a sustained high.

    • @akuankka321876
      @akuankka321876 Рік тому

      Finland just elected new right-wind government which is a lot more "open" for larger timber production than the previous left-wing government. I think that the timber production will increase, even though the production is still very high at this moment.

    • @daniellarson3068
      @daniellarson3068 Рік тому +4

      Takes time for trees to grow. Selective harvesting may not produce the maximum yield, but is sometimes the best for the long term.

  • @spencerolson416
    @spencerolson416 Рік тому +1

    You probably won’t read this but it sounds from your tone that you are just reading from a script. Overall love your stuff just don’t want you to lose the magic of why I fell in love with your stuff.

    • @spodergibbs5088
      @spodergibbs5088 Рік тому +1

      What do you mean? All the videos are scripted, it’s not like he reads from the top of his head making it up as he goes along

    • @g.zoltan
      @g.zoltan Рік тому +1

      @@spodergibbs5088 He's on to something, he just tries to explain how it doesn't feel natural. That's because this video was written by an AI, and they'll use this video's response and reception for a future video where they'll talk about the economics of ChatGPT.

  • @vulkanofnocturne
    @vulkanofnocturne Рік тому +7

    Finland has an advantage because Santa lives there.

  • @Articulate99
    @Articulate99 Рік тому

    Always interesting, thank you.

  • @elliotjwharvey
    @elliotjwharvey Рік тому +6

    Feels like it was written by ChatGPT lol

  • @corymcnally7711
    @corymcnally7711 Рік тому +1

    Hey EE... another great video.
    Please please do Jamaica! Will be great to watch what you come up with. 🇯🇲 🇯🇲 🇯🇲

  • @Grove332
    @Grove332 Рік тому +6

    1:00 Nordic countries, not scandinavian.

  • @amassasa
    @amassasa Рік тому +2

    You should do a video on Uruguay. It is considered one of the most stable countries in south america.

  • @felixmortem1177
    @felixmortem1177 Рік тому +26

    Finland , Finland , Finland
    The country where I want to be
    Pony trekking or camping or just watching T.V
    Finland , Finland , Finland
    It's the country for me

    • @krazYFaic
      @krazYFaic Рік тому +4

      You're so near to Russia
      So far from Japan
      Quite a long way from Cairo
      Lots of miles from Vietnam...

    • @SoloTURK11
      @SoloTURK11 Рік тому +2

      You’re happy neighbors with… North Korea?

    • @zalafinari
      @zalafinari Рік тому +1

      Hah, I havent even watched the video yet and wanted to scan the comments to see if anyone had posted this already. Bravo.

    • @cinderellaandstepsisters
      @cinderellaandstepsisters Рік тому +2

      Pony trekking in Finland?
      Not in Finland. In Iceland yes.

    • @cinderellaandstepsisters
      @cinderellaandstepsisters Рік тому +1

      ​@@krazYFaicNorway shares a border with Russia as well.

  • @shehaniprasangika2629
    @shehaniprasangika2629 Рік тому

    From Finland with love ❤️🇫🇮

  • @tsuchan
    @tsuchan Рік тому +4

    Not "like other Scandinavian countries..." Finland isn't in Scandinavia.

  • @fredfredison7465
    @fredfredison7465 Рік тому +2

    Love the channel. Vid feels a bit cowritten by ChatGPT though?

    • @joemamium
      @joemamium Рік тому

      Yeah, thought about it too

  • @kdramafan3902
    @kdramafan3902 Рік тому +5

    Finland got the smaller score then India, because it has a small population. I think the leader board needs a broader spectrum of economic indicators. I am Indian but I think Finland deserve more numbers than India.

  • @Bhomasolini
    @Bhomasolini 10 місяців тому

    Thank you for that general summary, ChatGPT.

  • @ResandOuies
    @ResandOuies Рік тому +1

    Am I the only one that felt that this was a 4 minute video that repeated it self until it became a 14 min one?

  • @easygoingdude9990
    @easygoingdude9990 Рік тому +5

    Is it just me or was there something off with either the script or the edit this time? I don’t mean to sound ungrateful for free content but it felt like you were just saying the same things over and over again.

  • @Seer_Of_The_Woodlands
    @Seer_Of_The_Woodlands Рік тому

    Meidän maallamme on ongelmia, mutta en oikeis unsko että nykyinen hallituksemme niitä kykenisi ratkomaan... Great video!

  • @RRaymer
    @RRaymer Рік тому +10

    Average wage per hour in Finland is not 25 Euro, nowhere close. More like 14/15.

    • @TwistedNerve1
      @TwistedNerve1 Рік тому

      Average and median are different

    • @mr.paperbag771
      @mr.paperbag771 Рік тому +2

      @@TwistedNerve1 The 15-17€/h is an *average* published by the Finnish Statistical Agency. Not a median.

  • @DonnaOnKissa
    @DonnaOnKissa Рік тому

    0:14 --> 1:45 strategically remote , got it!

  • @tildazarqa4691
    @tildazarqa4691 Рік тому +328

    The fear of inflation has caused the values of equities and bonds to drop, underperforming the US economy. My portfolio, which started out at $750k and is now at $592k, would greatly benefit from any advice on how to increase my returns during this crash.

    • @lucasjeffery3878
      @lucasjeffery3878 Рік тому

      Purchasing a stock is simple, but selecting the best one without a tried-and-true plan is rather challenging. I will thus advise you to hire a financial advisor who can give you entry and exit points on the best stocks to buy right now or add to a watchlist. The top contenders include Apple, Merck, General Dynamics, Cheniere Energy, and Marriott International.

    • @zartanbarbara
      @zartanbarbara Рік тому +1

      I think it's brilliant to use a brokerage advisor for investing. Prior to speaking with an advisor, I was recently through an investing nightmare during the pandemic crash in March 2020. In summary, with the assistance of my advisor, I have so far grown my initial $120k investment to over $550k.

    • @donaldwayne7023
      @donaldwayne7023 Рік тому

      I've been looking at comparable opportunities in the current market because I know a lot of people who made fortunes from the Dotcom crash and the 2008 crash. Could this consultant who helps you be of any assistance?

    • @horribleIRUKANDJI
      @horribleIRUKANDJI Рік тому +7

      nice thread you have here, bots

  • @Atomic5643
    @Atomic5643 Рік тому

    Yes!! I've been waiting for finland

  • @SangoProductions213
    @SangoProductions213 Рік тому +9

    Immigration does not fix aging populations, it masks it. The immigrants also just fall right in line with the local birth rates.
    So, something is going on that is making it so that, even when leagues better off than their native countries, and even hop-skip-jumping across the EU to find the social programs that they want the most, the immigrants feel just as disinclined to procreate as the actual native population.
    Why is that? (Mexico is an outlier.)

    • @villenmedia6812
      @villenmedia6812 Рік тому

      Immigration takes care of the aging population by providing workers to Finland's struggling healthcare sector. The salary of nurses in particular is so low compared to neighboring countries like Norway that even Finnish nurses prefer to work there. Additionally the low salary deters them from having more children.

    • @SangoProductions213
      @SangoProductions213 Рік тому +4

      @@villenmedia6812 You almost didn't read a word of the comment before making your own.
      Yes. it masks the aging population, by getting foreign blood into the labor force (hopefully at any rate). It does not solve the issue that these immigrants will also soon age as well. (Even if you ignore literally all social issues of one group being seen as dependent on another. Or how foreigners are inherently not as loyal to the nation as natives.)
      And do you know a place that also has low salaries? Africa. Want to know a place with the highest birth rate in the world? Africa.
      So that's not actually a correlation that works.

    • @kirby1225
      @kirby1225 Рік тому +1

      One thing would be to lower the costs of living mostly housing. In a lot of countries people are having less kids than they want because they can only afford to have so many.

    • @SangoProductions213
      @SangoProductions213 Рік тому +1

      @@kirby1225 Money doesn't increase birth rate, as we can see from the third world.
      But you are hitting on something true: In the modern western world, kids are luxury items that you have to take care of for 18 years (if you're lucky now), rather than productive members of the household.

    • @kirby1225
      @kirby1225 Рік тому

      @@SangoProductions213 third world is not the same thing as the first world. It does not apply to 3rd world countries.

  • @akseli1111
    @akseli1111 Рік тому +15

    I think this video is way too positive about the situation in Finland. Relatively high unemployment, slow growth, aging population and the exact same problems with migration as in our neighbour Sweden. The only reason we don't have gangs waging wars in the suburbs yet is that we don't have as many migrants as Sweden. Government debt is booming while social services are getting worse. I think Estonia to our south is surpassing us in terms of GDP/capita in around 10 years now even though they had to suffer under communism for ages. Seems like a country can't tax itself into riches, who would have guessed?

    • @_o..o_1871
      @_o..o_1871 Рік тому +1

      Looking at your comments, you’re clearly a naz* so there is no reason to debate this, but I’m sure that Finland will most likely get on its own feet very soon and make a few changes. Look how fast Finland changed its security policy joining NATO after Russia’s invasion of Ukraine.

  • @sandejunior
    @sandejunior Рік тому

    Finally, this is what i have been waiting for

  • @benchoflemons398
    @benchoflemons398 Рік тому +5

    Nothing says “economic success“ like having a lower GDP per capita today than you did 15 years ago :/

    • @akuankka321876
      @akuankka321876 Рік тому +1

      False. GDP is not lower today than 15 years ago. GDP is very bad and very out of date indicator of how well your economy is doing. Better would be HDI and median wealth/income index.

    • @benchoflemons398
      @benchoflemons398 Рік тому +2

      @@akuankka321876 reread my comment.

    • @Jay-ho9io
      @Jay-ho9io Рік тому

      ​@@benchoflemons398Why? It's not going to be any more honest or less bullshit the second time.

    • @benchoflemons398
      @benchoflemons398 Рік тому

      @@Jay-ho9io the person that replied to my comment said the GDP is not lower. I did not say the GDP is lower, I said the GDP per capita is lower than it was 15 years ago… Which it is… which is pretty bad.
      They also said that HDI would be a better indicator (HDI is a horrendous indicator) and that median wealth would be better (that was just push countries with the largest housing bubbles like all Scandinavian countries, Canada, Australia, nz, etc. to the top because of home equity)

  • @deek1081
    @deek1081 Рік тому +3

    I think this video was written by chatgpt

  • @awanderingprince
    @awanderingprince Рік тому

    EE, great video! Can you please consider doing a video on the economy and situation of Puerto Rico?

  • @Youcanatme
    @Youcanatme Рік тому +10

    This has got to be the most boring EE video. Nothing was really discussed. This is like an 8th grade presentation.
    Edit: I doubt he did anything in the script writing. You can hear he doesn’t really have interest in the topic. As he had in the videos he used to make.

  • @OldieBugger
    @OldieBugger Рік тому +1

    Yea, all true. My only problem with the heavy taxation in Finland is how to mitigate the tax burden of my inheritance, a very tricky thing as most of what I own is this apartment I live in. The big question is to try to transfer as much of it to my sons (no daughters or granddaughters, alas!).

  • @tacitus6384
    @tacitus6384 Рік тому +3

    "Finland has seen a steady increase in immigration over the past few decades, with newcomers arriving from a diverse array of countries."
    And as we've seen in the rest of Europe, this has worked wonderfully...

    • @tj-co9go
      @tj-co9go Рік тому

      Not really. The immigration is quite low still

    • @tj-co9go
      @tj-co9go Рік тому

      Not really. The immigration is quite low still

  • @Sn0wy_TV
    @Sn0wy_TV Рік тому +2

    The fact the USA is on top shows you guys have no idea what it’s like actually living in other countries

  • @Kennon959
    @Kennon959 Рік тому +4

    Went back a few times and really don't get how an increase in immigrants has increased pressure to join Nato internally. A very random consideration added and no rationale given. Immigrants = Wants to join Nato?

    • @tj-co9go
      @tj-co9go Рік тому +1

      Yeah weird how the war in Ukraine had no effect on that according the channel. ChatGPT didn't have data for that year?

  • @basquiat9015
    @basquiat9015 8 місяців тому

    One thing I have realized is that the success and happiness of a nation is not dependent on the economic and social viability of its system but the mindset and vision of its citizens. Economic prosperity, social cohesion are just by-products of such mentality.

  • @tylernorby4939
    @tylernorby4939 Рік тому +5

    Minnesota must be 10 Finlands then since it's the "Land of 10,000 Lakes".

    • @tecci5502
      @tecci5502 Рік тому +10

      the name is a little misleading, Finland has around 190,000 lakes

    • @akuankka321876
      @akuankka321876 Рік тому +1

      Finland has almost 200k lakes and almost 180k islands... The exact number of lakes and islands is still unclear though.

    • @Croz89
      @Croz89 Рік тому +1

      @@akuankka321876 And nearly all of them have at least one little summer house or fishing hut on them.

  • @dkirton888
    @dkirton888 Рік тому

    That nearly 50 % tax rate though. Soul crushing.

    • @Omit1tulliportin
      @Omit1tulliportin Рік тому

      Considering I don't ever see the money it doesn't bother me. I rather take 1K than 2K if it means all of the services are provided for me. Here we use tax money to make live easier for people. But I see how it would be annoying to pay taxes so your army can buy more bombs.

    • @nemzi8969
      @nemzi8969 Рік тому

      Tax depends on your income

  • @ThanhBenMansour
    @ThanhBenMansour Рік тому +5

    Finland is known mainly for its education system. People have tried to replicate it in their own countries but to no avail.

    • @daniellarson3068
      @daniellarson3068 Рік тому +2

      and saunas

    • @recoil53
      @recoil53 Рік тому

      On education, I'm curious about how even that quality is.
      In America, the overall ranking probably isn't that high. But the specific school system you are in is everything. I was more than prepared for college, but a student 20 miles away might struggle.
      For reference, my state college was consistently in the top 5 in the US for getting research dollars in the years leading up to my college years. Overall in the state you had to be top 10% to get in, but from my HS it was top 50%.

    • @butterflies655
      @butterflies655 Рік тому

      Google about the other things Finland is known.

    • @daniellarson3068
      @daniellarson3068 Рік тому

      @@butterflies655 Finland is the only country that has it's act together for the storage of nuclear waste. In the US politics prevents progress in this area.

  • @myselfyuvi
    @myselfyuvi Рік тому

    Before watching this video Me about Finland:
    After watching this video Me about Finland:

  • @Fresh_Andrew
    @Fresh_Andrew Рік тому +9

    Finland good

  • @latometoy2872
    @latometoy2872 Рік тому +1

    Finland's economy hasn't raised practically att all since 2008 crisis.

  • @AkiKii519
    @AkiKii519 Рік тому +4

    Yeah, I went to Finlad like 6 months ago. Sure everything is clean and orderly. But, costs of everything is astronomical, especially food and housing. A lot of service jobs are either automated or cut because of taxes, consequently - a lot of Asian and African immigrants for cheap-ish labor. Government controls everything to a T, you are locked in a system from birth to death. Energy is mandatory to send to EU, so energy costs are still huge.

    • @londop.a.3048
      @londop.a.3048 Рік тому +4

      when the new nuclear power plant started up a few months ago, electricity has been cheap (but the price drop is not only due to the nuclear power plant).
      the price has sometimes even been negative due to oversupply.

    • @AkiKii519
      @AkiKii519 Рік тому +1

      @@londop.a.3048 donno man. I am repeating what my finnish hosts said.
      The power is generated yes - but a lot of it HAS to be directed to the EU. Take into account that was winter.

    • @jattikuukunen
      @jattikuukunen Рік тому +1

      @@AkiKii519 Finland is a net importer of energy. For electricity, Finland may soon become self-sufficient, but the link to Estonia is only 1 GW and exporting through Sweden (2.3 GW) won't always (usually?) be possible either.

    • @butterflies655
      @butterflies655 Рік тому +2

      And still Finns live comfortably.

  • @JackFrawley101
    @JackFrawley101 Рік тому +1

    The chatgpt is strong with this one. Can we go back to the slower release higher quality please?

  • @aviedw1
    @aviedw1 Рік тому +5

    5.5 million for a whole country. That’s the population of Alabama. They seem to leverage their resources well. They also don’t seem to feel the need to spend 9 billion on defense each year. Historically Americans have garnered a distrust of government. I think America economic problems stem from over spending and we’ve outsourced many of our industries.

    • @aapee565
      @aapee565 Рік тому +9

      We actually spend 2% directly on defense, and lose another ~1% of GPD each to year to men larping war in a forest instead of doing anything productive. So we pretty much spend 3% on defense, which isn't that much less than the USA.

    • @aviedw1
      @aviedw1 Рік тому +1

      @@aapee565 12 percent of the US federal budget is spent on defense.

    • @sampohonkala4195
      @sampohonkala4195 Рік тому +1

      @@aviedw1 You have to use GDP to be able to compare. The Finnish state budget covers practically all education and heath care in Finland and is therefore proportionally huge, compared to the US federal budget. Wikipedia says US military spending is 3,5% of GDP, so not that much more than military spending in Finland.

    • @aapee565
      @aapee565 Рік тому +1

      @@aviedw1 Yes, but it is still "only" 3,5% of total GDP. Also easier to compare GDP than government budgets, as those may work very differently between countries.
      The US could of course be more efficient with the money, and there are improvements to be made, but the situation isn't quite as bad as people think.

    • @butterflies655
      @butterflies655 Рік тому

      All the Nordic countries have a small population.

  • @jurgensantiagobeltrancasti2187

    men idk if this will be seen, but iven binging ur vids and id be awesome if u could do a video about the economy of colombia

  • @Lahdenkyla
    @Lahdenkyla Рік тому +3

    Please add the gini coefficient as a ranking criteria for the leaderboard. Imo it's one of the best indicators for longterm stability.

    • @_o..o_1871
      @_o..o_1871 Рік тому +1

      He’s an economic liberal. He literally gives points to GDP size as if that’s actually saying something..💀💀💀
      Of course that the USA comes first in that case. We all know how the US economic system is rather disfunctional with all the military spending and total ignorance of its poor people and the infrastructure…USA is anything but no.1 in the world at economics. It’s only no.1 in terms of global influence.