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Australia Should Be Poor. Why Isn’t It?

Australia Should Be Poor. Why Isn’t It?

FromEconomics Explained


Australia Should Be Poor. Why Isn’t It?

FromEconomics Explained

ratings:
Length:
19 minutes
Released:
Jan 9, 2024
Format:
Podcast episode

Description

Australia's biggest export is natural resources, and as we have talked about on the channel many times, this isn't always a great thing for an economy. Resources don't provide much value to the local economy, especially in Australia where mines are thousands of miles from residential centres, and they don't employ all that many people for the massive wealth they create. Australia lags far behind technological centres like the US, but somehow has a strong economy. How has it done this and what can we learn from a country that just digs holes and builds homes?
Released:
Jan 9, 2024
Format:
Podcast episode

Titles in the series (100)

On Economics Explained, we take a look at interesting countries, policies, and decisions from the point of view of an economist. The world is an interesting place and we hope to uncover some of this intrigue in our short, informative podcasts.