How Does Finland Redefine Economic Success? 🇫🇮
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Despite having very high taxes compared with other developed countries, Finland has become a very successful country that tops a lot of global leaderboards for education, safety and social security. After the collapse of the Soviet block their economy struggled, so how they they go from a disconnected and under-utilised economies to a powerhouse in Europe?
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@Firzenizer Жыл бұрын
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 Жыл бұрын
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 Жыл бұрын
@@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 Жыл бұрын
@@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 Жыл бұрын
@@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 Жыл бұрын
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.
@user-yg2gw4je8d Жыл бұрын
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 Жыл бұрын
That end the metal music they make. Nightwish, Amorphis, many more.....
@GrandviewKing Жыл бұрын
There is a reason the population is so low… now we know why
@jaskapenttila7644 Жыл бұрын
@@GrandviewKing Those that cant Make The turn Are not worthy
@stevenjsummerville9743 Жыл бұрын
I agree, tommi Makinen agrees, angry birbs agrees
@certaindeath7776 Жыл бұрын
Finland invented the Hydraulic Press KZfaq Channel. 9 out of 10
@jakubwijata5457 Жыл бұрын
I think EE discovered ChatGPT. Most “scripted” video yet.
@B21_raider Жыл бұрын
Exactly no details of the so called innovations
@B21_raider Жыл бұрын
Exactly no details of the so called innovations
@jakubwijata5457 Жыл бұрын
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 Жыл бұрын
I was just wondering the same thing. Didn't want to be the one to comment it though thinking it might be rude
@pekka405 Жыл бұрын
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.
@daniellarson3068 Жыл бұрын
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 Жыл бұрын
Unless these inflationary times are followed by deflationary times
@akuankka321876 Жыл бұрын
@@Tmb1112I highly doubt that.
@189Blake Жыл бұрын
They will import uranium instead. Who owns most uranium in the world? 🤔
@HexaSquirrel Жыл бұрын
@@189Blake Australia
@exosproudmamabear558 Жыл бұрын
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
@-AxisA- Жыл бұрын
This is a video only a foreigner can make about Finland.
@RK-cj4oc Жыл бұрын
Why?
@M0ree Жыл бұрын
@@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 Жыл бұрын
@@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 Жыл бұрын
Yeah, agreed didn't even mention our rising debt. Could have atleast compared us to our neighbor's
@ricardo12472 Жыл бұрын
@@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.
@michaelblakemutschler594 Жыл бұрын
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 Жыл бұрын
Also there are a whole bunch of minor errors
@MorgurEdits Жыл бұрын
@@AL-lh2htNot minor he got at least 2 figures totally wrong maybe even more if I would bother to check
@ameyskulkarni Жыл бұрын
One of the boring episodes imho. Half of it seems like it was written by ChatGPT tbh
@tacobell1365 Жыл бұрын
@@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 Жыл бұрын
@@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
@teebrown27 Жыл бұрын
This video was wordier than usual. It took a lot of words to say very little. Was it AI generated?
@Demiblood86 Жыл бұрын
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 Жыл бұрын
its like t he used to be more S.W.O.T reports than the gloss over summaries we see now.
@ameyskulkarni Жыл бұрын
This was one of the boring episodes. Like seriously, did he use ChatGPT or something?
@DiegoDiaz-iy7sf Жыл бұрын
@@ameyskulkarniwas going to say this, sounds exactly like something chatgpt would write
@oceanwonders Жыл бұрын
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 10 ай бұрын
You just can't have jokes in Finland... it's too serious
@vandalpaulius Жыл бұрын
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 Жыл бұрын
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 Жыл бұрын
@@Blackdiamond2 haha it reminded me of school too lol.
@fredfredison7465 Жыл бұрын
It felt like it was written by ChatGPT...
@ameyskulkarni Жыл бұрын
@@fredfredison7465Yeah that was exactly the feeling I got from so much of the video lol
@tj-co9go Жыл бұрын
Very good for a video made by AI I agree
@NIL0S Жыл бұрын
I'm a Finn and during most of this video I went like "wat".
@KeijoAmbersson Жыл бұрын
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 Жыл бұрын
really interesting to hear! W comment.
@mr.paperbag771 Жыл бұрын
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 Жыл бұрын
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 Жыл бұрын
@@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 Жыл бұрын
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 Жыл бұрын
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 Жыл бұрын
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 Жыл бұрын
Estonia might be a pretty good model for a lot of developing economies and a true success story.
@Muhammad_Ahmad_ Жыл бұрын
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 Жыл бұрын
@@Muhammad_Ahmad_ And why do you think larger countries have reasons to implement bad policies that willfully stagnate growth and increase suffering?
@Muhammad_Ahmad_ Жыл бұрын
@@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
@wsxgfhccr Жыл бұрын
"newcomers arriving from a diverse range of countries" Yeah I'm sure underdeveloped, Middle Eastern countries are very diverse
@BirdEgg123 Жыл бұрын
Pick your flavour of kebab
@ryoukwjdbwopqmqpzl73819 Жыл бұрын
Not all scandanavia is cucked like swedistan
@Rainforestdelight Жыл бұрын
Hopefully the new right wing coalition government will put an end to this.
@sampohonkala4195 Жыл бұрын
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 Жыл бұрын
Most immigrants into Finland are other Europeans. Albeit eastern Europeans...
@evan Жыл бұрын
I was super impressed by my recent trip to Tampere, Finland but lord the amount of snow was INSANE
@conto7032 Жыл бұрын
Don't lie Finland doesn't exists.
@Byrzzaa Жыл бұрын
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 10 ай бұрын
Did you like your trip to Tampere and would you see Finland has a foreseeable country to live in?
@Luminon87 Жыл бұрын
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 Жыл бұрын
This was an underwhelming video. Usually EE puts in a lot more effort.
@ArawnOfAnnwn Жыл бұрын
@@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.
@BezJones Жыл бұрын
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 Жыл бұрын
probably deserves lower because finland's economy has been stagnant for so long
@mr.paperbag771 Жыл бұрын
@@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 Жыл бұрын
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 Жыл бұрын
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 Жыл бұрын
I wouldn't put much emphasis on the leaderboard anyway 😂
@xeozim Жыл бұрын
Finnish universities hold spots 101, 201, 401, 501, 601, 701, and 801 on the world ranking that's so weird
@mikitz Жыл бұрын
They are the number one in each hundred, at least that's something to brag with.
@yuki-sakurakawa Жыл бұрын
Sounds like american uni classes (ECON 101, 201, etc) 😂
@anttikaipainen6072 Жыл бұрын
What the h***! Who has the 301 😂
@KingLarbear Жыл бұрын
@@anttikaipainen6072lol
@skua675 Жыл бұрын
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=
@swordcat Жыл бұрын
Was this written or read by an AI? feels different from your other videos
@lajya01 Жыл бұрын
It did feel less researched and a little boring.
@ArawnOfAnnwn Жыл бұрын
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 Жыл бұрын
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 Жыл бұрын
EE by AI
@ameyskulkarni Жыл бұрын
@@ArawnOfAnnwnPlus he didn't even talk about stuff like debt
@philipberthiaume2314 Жыл бұрын
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 Жыл бұрын
Imagine if that happened for Partygate ...
@slz_dawn3655 Жыл бұрын
@@33andy33gmailboris’ income 📉📉📉
@breezyx976 Жыл бұрын
That's awesome, it means I can speed without worrying about getting fine since I have no income!
@akuankka321876 Жыл бұрын
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- Жыл бұрын
Yea and the biggest ever speeding ticket was issued here and it was for a race driver. It was like 200k€ :D
@PetPulseTVHDxx Жыл бұрын
no man Finland is not redefining ecomomic success
@mikkolukas Жыл бұрын
Finland is also quite strong within tech and game development
@tj-co9go Жыл бұрын
Very much. Nokia, Angry Birds, Supercell all come from Finland.
@Omit1tulliportin Жыл бұрын
@@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 10 ай бұрын
@@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 10 ай бұрын
@@kurolotus4851 well that's what I meant there a lot of tech start ups even if big capital ends up buying them
@Tespri 10 ай бұрын
@@tj-co9go entire point of making startup is to trick someone to buy them
@hansderhalbe9229 Жыл бұрын
This sounds like at least part of this script was written by ChatGPT
@ameyskulkarni Жыл бұрын
Didn't even including actual economic stuff like debt levels smh
@Nasherrrzzz Жыл бұрын
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 Жыл бұрын
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 Жыл бұрын
@@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 10 ай бұрын
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.
@anderskorsback4104 Жыл бұрын
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.
@valentinmeidl8296 Жыл бұрын
Was the script for this video written with chat GPT? it really sounds like it
@ameyskulkarni Жыл бұрын
Most of it didn't really even talk about economics! He didn't mention any real economic information like debt levels or whatnot
@valentinmeidl8296 Жыл бұрын
@@ameyskulkarni indeed and it was filled by a bunch of individual short sentences glued together
@wertywerrtyson5529 Жыл бұрын
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 Жыл бұрын
Immigration in Sweden has made big economy development. In Finland we are behind due to closed doors policy
@byloyuripka9624 Жыл бұрын
is it the finns or the immigrants fault? merkel imported a bunch of people from a specific area and its your fault 😂
@solidfuel0 Жыл бұрын
@@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 Жыл бұрын
@@solidfuel0 "immigration from other European and white countries have made big economic development" - here, I fixed it for you.
@solidfuel0 Жыл бұрын
@@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 "
@FernandoPerez3h Жыл бұрын
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 Жыл бұрын
True
@preetjitsingh328 Жыл бұрын
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 Жыл бұрын
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 Жыл бұрын
Those are just big brands. Rather look at things like patent applications.
@akuankka321876 Жыл бұрын
Finland is literally in top 10 of the whole world in innovation. I have no idea where you got that Finland has no innovation...
@juliansebastian Жыл бұрын
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 10 ай бұрын
Nahh just another capitalist centric view of succes and a happy life
@maartent9697 Жыл бұрын
Thanks EE for providing me procrastination whilst writing my report
@rubentandy7654 Жыл бұрын
get to work! EE will be here when you’re finished. At minimum make this ur last procrastination, no quick xyz first. it’s work time
@vulkanofnocturne Жыл бұрын
GET TO WORK
@thierryolsthoorn3074 Жыл бұрын
Same
@killswitchfate Жыл бұрын
Get to work slacker, yikes
@Never-ending_ Жыл бұрын
I have an exam tomorrow as well lol
@Libertarian1111 Жыл бұрын
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 Жыл бұрын
This is true. Finland's ranking has dropped. It is still in the top ten.
@solidfuel0 Жыл бұрын
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 Жыл бұрын
Only 3-4 months in Germany you wait 1-3 years
@dh510 Жыл бұрын
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 Жыл бұрын
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 Жыл бұрын
Funny coincidence now that youve pointed it out
@mr.paperbag771 Жыл бұрын
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 8 ай бұрын
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.
@mrstraiban Жыл бұрын
"Like other Scandinavian countries" Finland is not a Scandinavian country but it is one of the Nordic countries.
@diamondsarenotforever8542 Жыл бұрын
In many languages Scandinavia means Nordic. Finland is a Nordic country and a member of Nordic council. No differences.
@butterflies655 Жыл бұрын
Partly it locates on Scandinavian peninsula.
@Vauhkoviuhko Жыл бұрын
@@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 Жыл бұрын
@@Vauhkoviuhkoah, you beat me to it
@ismailnyeyusof3520 Жыл бұрын
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!
@Zei33 Жыл бұрын
Australia gdp per capita 62k 8/10 Finland gdp per capita 52k 8/10 The rating system is pretty ridiculous.
@TheAlternative_27 11 ай бұрын
He must just Be doing it for fun. I don't think this Guy should Be taken seriously with his Bad AI script.
@hyljix 9 ай бұрын
I suppose you have to look at other services of the country and what you get for that money
@xxxBradTxxx Жыл бұрын
Finland isn’t a Scandinavian nation, they don’t have a monarchy or a Scandinavian language.
@getsomegoodstuff Жыл бұрын
? They have swedish and they are only talked about as Scandinavian in English because to them it's the same as the proper classification.
@lemokemo5752 Жыл бұрын
@getsomegoodstuff Scandinavia = Sweden, Denmark, Norway. Swedish is a minority language in Finland. Finnish however, is not even in the same family nor the same group as Scandinavian. Persian and Swedish are closer than Swedish and Finnish. Finns are Ugrics not Germanics.
@paavoilves5416 Жыл бұрын
@@marr4177 We're taught both Finnish and Swedish, though in reality only a small minority in the west coast speak Swedish in every day life. I can't remember the last time I've heard someone speak Swedish, I do hear turkish and some other languages almost daily though. India used to be part of the British Empire, are they anglo-saxons? Scandinavia is geographically Sweden, Norway and Denmark. Scandinavian culture spans those plus Iceland. The form of writing down Finnish language was created by a Finnish Swede in the 1500's. Agricola didn't CREATE Finnish language, he created a written form for it. The oldest finding of written Finnic language is from 1200's from Novgorod, written in the cyrillic alphabet.
@ellav5387 Жыл бұрын
@@marr4177 Written Finnish was created by Mikael Agricola, who obviously was Swedish since Finland didn't exist at the time. Spoken Finnish however can be very different from region to region.
@yuki-sakurakawa Жыл бұрын
Always thought it was because finland 🇫🇮 was fully on the mainland, while Norway 🇳🇴 and Sweden 🇸🇪 were on the Scandia Peninsula. So if Sweden 🇸🇪 got rid of their monarchy, they'd get kicked off the Scandinavian list? As far as Nordic goes, it could be language or more basic: nord = North. Though, I guess that would include Canada 🇨🇦and Russia🇷🇺 then 😂
@SigFrid1985 Жыл бұрын
I really would like to watch Norway and Portugal placed on that EE leaderboard.
@vulkanofnocturne Жыл бұрын
Finland has an advantage because Santa lives there.
@africanboi4542 Жыл бұрын
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 Жыл бұрын
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 Жыл бұрын
@@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 Жыл бұрын
@@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 Жыл бұрын
@@lucianoboccedi Thank you for this referral! i just looked her up and sent a message hoping she gets back to me.
@elliotjwharvey Жыл бұрын
Feels like it was written by ChatGPT lol
@Max-ts1jx Жыл бұрын
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 Жыл бұрын
You're in luck. That video has been out for years already. Obviously not with recent developments though.
@jonjeckell Жыл бұрын
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.
@creounity Жыл бұрын
To the best of my knowledge, Finnish timber production is shrinking dramatically, lately.
@Kennon959 Жыл бұрын
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 Жыл бұрын
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 Жыл бұрын
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 Жыл бұрын
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 Жыл бұрын
Takes time for trees to grow. Selective harvesting may not produce the maximum yield, but is sometimes the best for the long term.
@Alex-pr6zv Жыл бұрын
Finnish pharmacauetical companies include Orion, Fermion, Vitabalans and Galena, many operating out of Espoo.
@sandejunior Жыл бұрын
Finally, this is what i have been waiting for
@vem9583 Жыл бұрын
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 Жыл бұрын
Another Finn here, this is a very good, accurate analysis
@bodaciouschad Жыл бұрын
Thanks for the Finnish perspective! The way EE described your country sounded more like Candyland than reality.
@mammadjafarzade7687 Жыл бұрын
@@bodaciouschad IMHO all of their research went on to title, then they tried to find a country that suits title I guess
@jokuvaan5175 Жыл бұрын
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 Жыл бұрын
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.
@blinking_dodo Жыл бұрын
Why is there so much focus on economical growth? Stability is much more important in my opinion.
@hankhillsnrrwurethra Жыл бұрын
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 Жыл бұрын
Japan has been there for years, so we're starting to see how that goes.
@jessec.8052 Жыл бұрын
Growth is important IF people are having kids and the population is growing, at whatever pace that may be
@akseli1111 Жыл бұрын
The government debt will not be stable if there is no economic growth.
@blinking_dodo Жыл бұрын
@@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.
@lolollololoollllllll Жыл бұрын
economics explained has just uploaded, my hangover is cured
@alehaim Жыл бұрын
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 Жыл бұрын
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 Жыл бұрын
Sounds like having smart kids is expensive.
@TheAlternative_27 11 ай бұрын
@@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 10 ай бұрын
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 10 ай бұрын
I guess Finland has cut university education budget since 1989...
@francozisch Жыл бұрын
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 Жыл бұрын
Thank you EE ❤
@captrobmiller6095 Жыл бұрын
When something is free, youre the product. In this case, you are the product for ad companies
@francozisch Жыл бұрын
@@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 Жыл бұрын
This was a low-quality video
@Grove332 Жыл бұрын
1:00 Nordic countries, not scandinavian.
@zeikkari Жыл бұрын
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.
@samuelvieira6368 Жыл бұрын
Anyone know which video puts the USA in the national leaderboard? There are a lot of videos about the US but I don’t know which one specifically places them on the list.
@jms3827 Жыл бұрын
It’s the one titled about how covid affected the American economy. kzfaq.info/get/bejne/Z76fls10zdmYl2g.html
@jms3827 Жыл бұрын
Its the video talking about what the American economy would look like if covid never happened
@estgaming732 Жыл бұрын
Please do EE a to z where you briefly talk about a countries economy. Day 1
@Vakovakovv Жыл бұрын
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.
@Articulate99 10 ай бұрын
Always interesting, thank you.
@Atomic5643 Жыл бұрын
Yes!! I've been waiting for finland
@TheSilentCartgraph3r Жыл бұрын
This script sounds like it was written by AI
@BirdEgg123 Жыл бұрын
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 Жыл бұрын
Heyday*
@TheHeavyModd 10 ай бұрын
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.
@FengRu2 10 ай бұрын
@Economics Explained would you happen to know where I can get the thumbnail of this image? I love it!
@hillbilly4895 Жыл бұрын
Finland: Wooohooo! ($290B) Tennessee: That's cute ($365B)
@Novusod Жыл бұрын
Tennessee is one of America's poorest states.
@hillbilly4895 Жыл бұрын
@@Novusod ...kinda my point? If Finland is an "economic miracle" what does that make Tennessee?
@Jay-ho9io Жыл бұрын
@@hillbilly4895a collection of embittered, ignorant, bigoted rednecks who can't do math, and the people they're trapped with.
@tylernorby4939 Жыл бұрын
Minnesota must be 10 Finlands then since it's the "Land of 10,000 Lakes".
@tecci5502 Жыл бұрын
the name is a little misleading, Finland has around 190,000 lakes
@akuankka321876 Жыл бұрын
Finland has almost 200k lakes and almost 180k islands... The exact number of lakes and islands is still unclear though.
@Croz89 Жыл бұрын
@@akuankka321876 And nearly all of them have at least one little summer house or fishing hut on them.
@deek1081 Жыл бұрын
I think this video was written by chatgpt
@awanderingprince Жыл бұрын
EE, great video! Can you please consider doing a video on the economy and situation of Puerto Rico?
@ResandOuies Жыл бұрын
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?
@ariochiv Жыл бұрын
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.
@AkiKii519 Жыл бұрын
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 Жыл бұрын
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 Жыл бұрын
@@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 Жыл бұрын
@@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 11 ай бұрын
And still Finns live comfortably.
@Erik-in8fh Жыл бұрын
How do you calculate 25 Euros as roughly 33 Dollar?
@MorgurEdits Жыл бұрын
How he had the 25€ in an hour figure in the first place?? average houerly wage in the end of 2020 was 16,8€ according to Google so how does he get that wrong and the tax rate of 46% or something is wrong as well. Can't find any sense in these numbers
@N1ghtmareJoker Жыл бұрын
EE could you make some shorts of countries you reviewed before in the past but did not include on the leaderboard. Singapore being one of them.
@SangoProductions213 Жыл бұрын
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 Жыл бұрын
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 Жыл бұрын
@@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 9 ай бұрын
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 9 ай бұрын
@@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 9 ай бұрын
@@SangoProductions213 third world is not the same thing as the first world. It does not apply to 3rd world countries.
@amassasa Жыл бұрын
You should do a video on Uruguay. It is considered one of the most stable countries in south america.
@jurgensantiagobeltrancasti2187 Жыл бұрын
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
@spurguvitunhuora9119 Жыл бұрын
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.
@peterknight7880 Жыл бұрын
To conclude, this economy isn't 'Fin-ished' yet. 🙄
@amermeleitor Жыл бұрын
Oh god, please...😅
@exeggcutertimur6091 Жыл бұрын
AS A REGULAR HUMAN SUCH AS MYSELF I CAN ASSURE THE CREATOR OF THIS VIDEO MANUFACTURED IT WITH HIS VERY REAL HUMAN HANDS AND WROTE THE SCRIPT WITH HIS VERY REAL HUMAN THOUGHT PROCESSOR.
@felixmortem1177 Жыл бұрын
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 Жыл бұрын
You're so near to Russia So far from Japan Quite a long way from Cairo Lots of miles from Vietnam...
@SoloTURK11 Жыл бұрын
You’re happy neighbors with… North Korea?
@zalafinari Жыл бұрын
Hah, I havent even watched the video yet and wanted to scan the comments to see if anyone had posted this already. Bravo.
@diamondsarenotforever8542 Жыл бұрын
Pony trekking in Finland? Not in Finland. In Iceland yes.
@diamondsarenotforever8542 Жыл бұрын
@@krazYFaicNorway shares a border with Russia as well.
@DonnaOnKissa 10 ай бұрын
0:14 --> 1:45 strategically remote , got it!
@nareshsharma206 Жыл бұрын
Can you recommend me books or courses to understand economics i dont know anything about economics
@Alazare1 Жыл бұрын
Nice ChatGPT script. All fluff and descriptions, no substance. Repeating talking points multiple times.
@ladiesman2048 Жыл бұрын
Finally Finland episode! Torille!
@oliivioljy9700 Жыл бұрын
Joko nähdään siellä ?
@OMajis Жыл бұрын
Torille!
@shehaniprasangika2629 Жыл бұрын
From Finland with love ❤️🇫🇮
@Seer_Of_The_Woodlands Жыл бұрын
Meidän maallamme on ongelmia, mutta en oikeis unsko että nykyinen hallituksemme niitä kykenisi ratkomaan... Great video!
@Youcanatme Жыл бұрын
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.
@chedabu Жыл бұрын
Immigration is a double edged sword since Finland's success is based so much on its culture...
@kawartie Жыл бұрын
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 KZfaq video of showing how to get to eu countries with fake certificates)
@lajya01 Жыл бұрын
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 Жыл бұрын
@@lajya01 Most immigration into Finland is from other Europeans. Albeit eastern Europeans...
@AL-lh2ht Жыл бұрын
As we all know immigrants do not mix with the culture they immigrate to. Got to keep the racially superior race pure. /s
@quickcube2834 Жыл бұрын
@@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.
@jattikuukunen Жыл бұрын
I'm not quite sure what the questions on the energy sector are that you keep referring to.
@-snek-3548 Жыл бұрын
Can you do belgium next?
@aviedw1 Жыл бұрын
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 Жыл бұрын
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 Жыл бұрын
@@aapee565 12 percent of the US federal budget is spent on defense.
@sampohonkala4195 Жыл бұрын
@@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 Жыл бұрын
@@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 Жыл бұрын
All the Nordic countries have a small population.
@justskip4595 Жыл бұрын
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 Жыл бұрын
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 Жыл бұрын
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 Жыл бұрын
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 Жыл бұрын
@@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 Жыл бұрын
@@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
@OldieBugger 10 ай бұрын
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!).
@kilianschwiebacher13 Жыл бұрын
Now time to make a video about estonia? Especially about the e-residencdy and startup hotspot , i could help if you need information and also can connect to the e-residency team :)
@easygoingdude9990 Жыл бұрын
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.
@Alazare1 Жыл бұрын
ChatGPT script
@benchoflemons398 Жыл бұрын
Nothing says “economic success“ like having a lower GDP per capita today than you did 15 years ago :/
@akuankka321876 Жыл бұрын
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 Жыл бұрын
@@akuankka321876 reread my comment.
@Jay-ho9io Жыл бұрын
@@benchoflemons398Why? It's not going to be any more honest or less bullshit the second time.
@benchoflemons398 Жыл бұрын
@@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)
@loner3369 Жыл бұрын
please explain the economics of Belgium please anyone?!?(why is there almost no info about the economy of Belgium?!?)
@n1ls53 Жыл бұрын
Cause it's all waffles and chocolate. Boring stuff
@JackFrawley101 Жыл бұрын
The chatgpt is strong with this one. Can we go back to the slower release higher quality please?
@tildazarqa4691 Жыл бұрын
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 Жыл бұрын
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 Жыл бұрын
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 Жыл бұрын
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 Жыл бұрын
nice thread you have here, bots
@eshnajizzle Жыл бұрын
Have to point out that you got the numbers way off for Middle Earner Income Tax. The 46% you quote is the marginal rate, not the tax rate which would be at around 30% for a median earner. The graph you showed was for tax revenues as share of gdp. While it's clearly true we are a heavily taxed society, it would be nice to get the numbers right. 😊
@seneca983 Жыл бұрын
"The 46% you quote is the marginal rate, not the tax rate which would be at around 30% for a median earner." Actually, the rate for median earner is definitely above 30% if you include employer-side contributions and these should definitely be included.
@eshnajizzle Жыл бұрын
@@seneca983 The number I used is based on OECD definitions for income tax rates. It has some employer contributions, but not all (nor should it). The rest are meant to be counted in the income wedge, but not as part of the income tax rate. The number is from the non-partisan (but right leaning) taxpayer's association based on the most recent median income data of 46k€ per year.
@seneca983 Жыл бұрын
@@eshnajizzle "It has some employer contributions, but not all (nor should it)." A 30% figure doesn't include any employer side contributions (at a salary of €46k). I'd say at least employer said pension and UI contributions should be included (because in the long term it's immaterial which side formally pays them) and I'm pretty sure their inclusion would take the rate above 40%.
@eshnajizzle Жыл бұрын
@@seneca983 Pension and unemployment insurance are included, other contributions aren't. You need to understand there are definitions set for these, and I described them earlier. Tax wedge is definitely larger than 40%.
@seneca983 Жыл бұрын
@@eshnajizzle "Pension and unemployment insurance are included, other contributions aren't." With 30% at €46k salary only the *employee* *side* contributions are included. If you include the employer side pension and UI contributions the percentage is certainly higher than 30%.
@peytonhanel7059 Жыл бұрын
What are some economic books you recommend I should read?
@hipithautaa Жыл бұрын
Finally! Been waiting this forever.
@sourabhmayekar3354 Жыл бұрын
Nice
@kxtof Жыл бұрын
Bro discovered ChatGPT
@user-zx1pc9eq8w Жыл бұрын
Finland is known mainly for its education system. People have tried to replicate it in their own countries but to no avail.
@daniellarson3068 Жыл бұрын
and saunas
@recoil53 Жыл бұрын
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 11 ай бұрын
Google about the other things Finland is known.
@daniellarson3068 11 ай бұрын
@@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.
DW Documentary
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