Will Ireland Become The World's Richest Country?
757Ireland has had a tumultuous economic history, and mostly full of strife, famine, and heartache. And yet in the past several decades, it’s had a triumphant and nearly unexplainable rise. It’s gone from being one of the poorest countries in the world to being one of the richest. And it’s achieved that in a remarkably short amount of time. It’s also done that in spite of not having many of the precursors you’d expect for a country that achieved rapid growth. For example, it doesn’t have huge oil reserves, nor does it have traditional wealth that grew back after times of economic downturn. So the big questions now are, “How did Ireland manage to have this tremendous economic growth in such quick fashion?” and “Will Ireland soon become the richest planet in the world?” In this video, we’re tackling these questions by examining the current and former state of Ireland’s mercurial economy. We go over its current standing, and why it’s considered the 2nd richest country in the world as of 2023. Then we look back at the modern history of Ireland’s economy. This begins with its independence in the early 1920’s. We’ll trace how the country managed to adopt economic policies that were utterly counterintuitive, and how that meant, for decades, it was ill equipped to survive, let alone thrive as a new nation. We talk about their odd decisions to copy the USSR, of all places, when it came to economic policies during and after the Great Depression. Then we’ll talk about a series of fortuitous events created a huge boom in Ireland , only to be followed by a series of events (and poor decisions) that turned the economy back into a nose dive. Finally, we’ll look at how Ireland managed to go from being a country on the verge of ruin in the 2008 global economic downturn, to a “Celtic Phoenix” in the last 8 years. And how they got incredibly lucky, after being found out as a somewhat shady tax haven for multinational corporations. So check out this video today, as we look at whether or not Ireland will soon be the richest country in the world!
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Written by: Tim Blane
Narrated by: Tim Blane
Edited by: Federico Rossi
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