Economics Explained
Economics Explained
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Why The 2022 Nobel Prize For Economics Is Making People So Angry
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0:00 - 1:35 Economics Nobel Prize
1:36 - 2:55 Surfshark
2:56 - 4:19 Ben Bernanke
4:20 - 7:45 Great depression bank runs
7:46 - 9:00 2008 recession
9:01 - 13:11 Diamond Dybvig model
13:12 - 13:58 Importance of banks
13:59 - 15:07 Too big to fail?
15:08 EE merch store
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Comments

  • Firelaf
    Firelaf 18 hours ago

    I agree with the Nobelist's findings about banks being vital to a modern economy. They are. And they ARE too big to fail. They are essential. And that's exactly why they shouldn't be run privately. Banks should be inside of the public's ownership. Their profit motive is what caused the 2008 financial crash and it's what caused the FED to print so much money during covid, leading to our current inflation crisis.

  • Chilbi Yito
    Chilbi Yito 18 hours ago

    Deposits creates loans or the other way around?

  • Vrager 1
    Vrager 1 18 hours ago

    Today the difference between the rate for depositors and rates for lenders is quite wide. In the UK, loans have been doled out during Covid which are 80% guaranteed by the Government, so banks aren't bothered about repayment in full, or credit rating or security for these loans, while earning interest on the loans as they are being repaid. Being bailed out by the taxpayer (who guarantee the Government's lending and spending) just encourages reckless lending and speculation by banks using other people's money. Do I claim my prize now?

  • Dominik Dobrotic
    Dominik Dobrotic 18 hours ago

    I've lost respect for Noble prizes ever since Obama got one for peace.

    • J
      J 18 hours ago

      Right, got it after drone striking kids all across Africa and the Middle East.

  • VViatro
    VViatro 18 hours ago

    This video will age like milk

  • Lunga Masilela
    Lunga Masilela 18 hours ago

    Really don't think the nobel prize for economics should exist, personally I don't feel like we should be awarding humans for making discoverys about things or rather systems we in fact created. I think we should award humans for discovering things that we had nothing to do with things that are in the natural world.

  • Prism
    Prism 18 hours ago

    The EE logo is back. Yay

  • Ian Hobday
    Ian Hobday 18 hours ago

    Bank deposits do not directly fund loans in the modern economy. In actuality, loans are one of the ways that new bank deposits (and new money) are *created*. The Bank of England had a very interesting bulletin that discussed this in detail a number of years ago. It's a topic that would make a great EE video!

  • Andras Beke
    Andras Beke 18 hours ago

    Could you address the proposed minimum global corporate tax and its potential effects?

  • Satchel Channel
    Satchel Channel 18 hours ago

    lol i belived he would say something like: "The only way to prevent a crisis is to have a central planned, socialist economy and to ban economic speculation". It would be too good to be true

  • WhiteTigerAudio
    WhiteTigerAudio 18 hours ago

    The man who said sub prime is contained just got a Nobel prize because sub prime… wasn’t contained? Absolutely not.

  • Ben Swanney
    Ben Swanney 18 hours ago

    I'm currently taking a macroeconomics class at my community college, and I just wanted to say thanks for making the class so easy!

  • GBM0311
    GBM0311 18 hours ago

    Didn't expect the random murder of D&D but pretty pleased by it.

  • Norman Goldstuck
    Norman Goldstuck 18 hours ago

    The fractional reserve banking system is all modern day alchemy. The alchemists tried to turn base metals into gold. The idea is to create great wealth and value out of nothing. For a while it seems to be succeeding with the periodic blow -ups. It won't last forever eventually being replaced by something else.

  • Walli
    Walli 18 hours ago

    The economic Nobel price is no Nobel price!

  • TechWorld
    TechWorld 18 hours ago

    Yeah he definitely saved the economy, what a hero! Oh and by the way, it only cost us trillions and trillions of dollars and set us up for even more speculation in the future but that shouldn‘t be a problem so let‘s just ignore it.

  • FUG
    FUG 18 hours ago

    I remember when Obama won the noble peace prize after waring longer than any over US president and murdering countless civilians with drones

  • Forau DNB
    Forau DNB 18 hours ago

    Banks don't connect depositors with borrowers... loans are new money entering the economy.. fiat money + fractional reserve banking is killing us all..

  • Duff Beer
    Duff Beer 19 hours ago

    dont worry guys the zombie economy that bernanke helped make is contained like the housing market in 07 !!! 😃😄😅

  • MURRAY
    MURRAY 19 hours ago

    in my opinion too much money is being taken away from lower wage earners by the money people so that they can't spend the amount of money needed to sustain a healthy economy. recent inflation has made this situation worse because wages have not kept up to inflation. also top earners pay low or no taxes that impedes public spending to create jobs and wealth. GOP since 1980 has started USA downward spiral that also affects other countries as well. will not improve soon.

    • Brett Baker
      Brett Baker 18 hours ago

      Increasing numbers of retirees is the problem. The system was based on raising your family in your 20s, peaking income in your late 40s and 50s, then dying in your 60s. The prevention of the last part has been what's causing the changes of the last few decades.

  • T.T.A.
    T.T.A. 19 hours ago

    Bernanke just kicked the ball down the road!

  • Peace Keeper
    Peace Keeper 19 hours ago

    If Obama can get a nobel prize for peace why are so surprised about economics. Nobel prize in humanities was always biased from the beginning. Remember Gandhi never got nobel peace prize. Stop equating nobel prize with prize from gods its not. People selecting winners are only humans and they can be manipulated, bribed, blackmailed and convinced to pursue agendas. Qatar hosts FIFA is another example.

  • Cr4y7
    Cr4y7 19 hours ago

    How is it "productive" at all to use someone else's savings to make business investments? If the money is just sitting there, is doesn't mean actual goods or production factors are also just sitting there and rusting away. The opposite actually. Money is a call option on the capital stock of society. It means that I (the depositor) am not calling my option on the capital stock of society, leaving the goods for other people to make productive use of. I.e. when I keep my money in savings, consumption is reduced, leading to more goods being available for others. This whole economic theory is just various rationalizations for money printing, by banks (when they create loans out of thin air) and by governments when they do fiscal stimulus.

    • Gordon Sau
      Gordon Sau 18 hours ago

      I am not sure if I get your points. But businesses borrow money to do investments (buy machines or hire more people). This increases their output. How is this not productive?

    • slop123456789
      slop123456789 18 hours ago

      This channel has a heavy Keynesian slant, and often asserts Keynesian dogma as if it were objective scientific fact.

  • Pura Vida
    Pura Vida 19 hours ago

    The Nobel Prize has become an international laughing stock! President Obama won the Nobel Prize, while U.S. drones were attacking targets and people around the world! Unfortunately, women and children were also killed, as innocent bystanders.

  • Dennis Presiloski
    Dennis Presiloski 19 hours ago

    Bernanke is a regime puppet being rewarded by the regime.

  • Wendy Shoo Wai Ching
    Wendy Shoo Wai Ching 19 hours ago

    Jobs Endowment Funding (Salary) & Pension

  • T.T.A.
    T.T.A. 19 hours ago

    If NNT writes another book, he'll certainly mention this kerfuffle, and rant on these 3 geniuses 😁

  • David
    David 19 hours ago

    Hey EE, whats your thoughts on the Digital Yuan that comes with an Expiration Date?

  • Petrico94
    Petrico94 19 hours ago

    Can the government sue a bank for 'failing' and needing a bail out? No business is too big to avoid failure, but at the same time yes banks and access to debt that can confidently be paid, if banks operate with that in mind it's going to lead to problems. If a business goes into bankruptcy then the bank can freeze their loans to make things easier or help them sell off what property they do have, at the same time everyone is told they're not doing well so it'll be harder to get loans without improvement and maybe start a trend of less business. If a bank declares bankruptcy on some loans, that means everyone is in trouble. Sort of meaning a fraction of everyone's property can't be paid for and can't take out more loans, their promise to pay back loans doesn't decrease but everyones confidence in holding their money with them or using them for loans, and you can't just say the factory owner has to settle for a smaller expansion to their business and not say we're in a recession. That's why we have procedures and insurance in case a bank goes under, if not contained it can ruin everyone's image of saving their money. Not to say the government needs full control of banks but more stops and monitoring for something that is being seen as a public service. Like contracting a company to build roads, it can be done through the public and done well, but if someone under cuts their funds and delivers poor road quality for the next few months there needs to be consequences. You can spend more to make sure the workers have a living and do their job but the owner or financial manager should have something coming for causing problems for everyone who needs those roads.

  • tatiana foule
    tatiana foule 19 hours ago

    You can spin fine and discover another others problems ... you ever recognise as problems... yourself are a complete mistake 🍗🍗🍗

  • David Medlin
    David Medlin 19 hours ago

    Seems to me if their work was actually useful we wouldn't have had the 2008 recession. Like it's been around so long it's clearly not useful info. The whole Nobel prize thing is a scam

  • tatiana foule
    tatiana foule 19 hours ago

    No. It's WHO to save a fin criSISSS ?

  • Sh Ja
    Sh Ja 19 hours ago

    Jib at D&D Respect earned!! Gr8 vid thank you

  • Account Name
    Account Name 19 hours ago

    economics nobel prize isn't even one of the real ones, it exists for propaganda purposes

  • Deniecu
    Deniecu 19 hours ago

    For future reference, the "g" in "Sverige" is a soft g, meaning, it is pronounced closer to a "j". That said, interesting video.

  • MTG Rabbit Wizard
    MTG Rabbit Wizard 19 hours ago

    If you gave me 5 mins in a room with him ...

  • tatiana foule
    tatiana foule 19 hours ago

    Ok now ok.

  • Dangic23
    Dangic23 19 hours ago

    EE turned to the dark side in 2019 and has never escaped. Continues to be a tool for the Bankers.

  • stef1234
    stef1234 19 hours ago

    Great video! Can you do a video on a job guarantee program?

  • Dante
    Dante 19 hours ago

    Did Bernanke saved the economy? No, he allowed a transferring of private debt to the public and pushed more risk into the system. He kicked the can. People are upset as we are likely about to experience the results of his decisions.

  • Prabin Hudeo Maharjan
    Prabin Hudeo Maharjan 19 hours ago

    Ben Bernanke forever respect he was directly involved in the 2008 economic crisis and its recovery. if he wasnt there then the world would be much poorer for everyone regardless of your nationality or region

    • Will Dendy Racing
      Will Dendy Racing 18 hours ago

      It’s like saying if you carry on drinking for a week you won’t get a hangover

    • Will Dendy Racing
      Will Dendy Racing 19 hours ago

      He just kicked the van down the road and made the problem worse.

    • Duff Beer
      Duff Beer 19 hours ago

      mad respect for the fella who helped bail out wall street and prolong and make the the eventual decline & depression the us is about too experience way worse

    • Walzheimer
      Walzheimer 19 hours ago

      Ben Bernanke the Corrupt Clown 🤡 that kicked the can with printing out of nothing

    • MTG Rabbit Wizard
      MTG Rabbit Wizard 19 hours ago

      The f?

  • Ian Armstrong
    Ian Armstrong 19 hours ago

    "Because they actually know how to write" Ouch! Harsh but fair. 😂

  • Joe Mama
    Joe Mama 19 hours ago

    It should be Noble Prize of PEACE!! Noble prize in this field is nothing but a SCAM

  • Dangic23
    Dangic23 19 hours ago

    Bernanke Lol The guy with an obsolete economy philosophy

  • Christian Collins
    Christian Collins 19 hours ago

    Wasn’t the biggest financial collapse in history the Bronze Age Collapse?

    • Jason Haven
      Jason Haven 19 hours ago

      If you mean going from 100% currency usage to 0% currency usage, sure. But that's literally the total collapse of any country with currency, like the Western Roman Empire, or what happened to the civilisations of the Americas after European colonisation. If you mean in raw GDP numbers, absolutely nto.

    • SlowHondaEnjoyer
      SlowHondaEnjoyer 19 hours ago

      no, not even with methods pf calculating value and inflation was that large enough in comparison

  • Dr Evil
    Dr Evil 19 hours ago

    “A society that puts equality before freedom will get neither. A society that puts freedom before equality will get a high degree of both.” “One of the great mistakes is to judge policies and programs by their intentions rather than their results.”

  • RoyaltyInTraining
    RoyaltyInTraining 19 hours ago

    Kinda weird how the video talks about savings accounts when so many workers are either in a massive amount of debt or living paycheck to paycheck.

  • Ser Garlan Tyrell
    Ser Garlan Tyrell 19 hours ago

    I think with regards to the economics explained leaderboard, there should be a ranking for wealth inequality. Just looking at the GDP per capita doesn't really tell you much about how it translates to an average citizen.

  • MatuschkaRossija
    MatuschkaRossija 19 hours ago

    Because the Nobel Price for Economy is bullhit!

  • Niilo
    Niilo 19 hours ago

    Nobel invented TNT. Winning that prize "for the betterment of humanity" always was bogus.

    • Niklas Molén
      Niklas Molén 19 hours ago

      TNT was discovered by Julius Wilbrand. Nobel invented dynamite. For the betterment of humanity was Nobel's wish as he saw that his invention was sometimes used in a destructive way.