How an Isolated Valley Became the World's Richest Country

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Күн бұрын

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Have you ever heard of Liechtenstein, the tiny Alpine principality? Despite its small size and remote location, it has managed to become one of the wealthiest countries in the world, with a staggering GDP per capita of $170,000 and an extremely high standard of living. But it's not exactly clear how this was achieved. From its humble beginnings as a poor and isolated valley of farmers, Liechtenstein faced numerous challenges to its development, from its harsh geography to its central location, which got it caught up in the tumultuous History of Europe. So this begs the question, how did Liechtenstein get so incredibly rich?
- Contents of this video --------------------------------
00:00 - Liechtenstein’s Economy
00:53 - The Second Richest Country in the World
02:54 - Why Liechtenstein Was Poor
04:59 - Economic Union with Switzerland
08:42 - Economic Miracle
15:47 - Liechtenstein Today
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
CASUAL SCHOLAR IS MADE POSSIBLE BY OUR PATREON COMMUNITY!
Support the channel by becoming a Patron today! 👉 / casualscholar
The video you’re watching right now would not exist without the monthly support provided by our generous Patrons:
Talon Hickey, Hayden Haun, Emmanuel Fredenrich, Pulaski, Adrian Willenbücher, Hallucination
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
- Sources used ---------------------------------------------
Liechtenstein: a modern history by Beattie, David
Secrets of the seven smallest states of Europe : Andorra, Liechtenstein, Luxembourg, Malta, Monaco, San Marino, and Vatican City by Eccardt, Thomas M
www.heritage.org/index/countr...
www.businessinsider.com/liech...
www.economist.com/1843/2019/0...
www.cia.gov/the-world-factboo...
www.liechtensteinusa.org/page...
www.britannica.com/place/Liec...
www.latimes.com/archives/la-x...
www.liechtenstein-institut.li/application/files/4315/7435/2841/LIAP_049.pdf
#Liechtenstein #LiechtensteinEconomy #LiechtensteinHistory #Economics #CasualScholar #History

Пікірлер: 969

@CasualScholar Жыл бұрын

@reddixiecrat Жыл бұрын

When is that Argentina video supposed to come out?

@warrendonpaul4549 Жыл бұрын

Pàaa

@Bruh-xj7zb Жыл бұрын

no 🤯

@pioneer_1148 Жыл бұрын

Honestly one of the funniest promo's I've ever heard

@tomkent4656 Жыл бұрын

I think we aleady knew that!

@PolariusKarnun Жыл бұрын

"Unemployment is barely above 1%" Imagine the whole country knowing which 400 people don't have jobs lol

@ElectrostatiCrow Жыл бұрын

Lol

@ems4884 Жыл бұрын

Oh my. That never occurred to me. It's a fairly disturbing thought. I wonder if that 1% might actually represent the disabled population in Liechtenstein

@Bolognabeef Жыл бұрын

@@ems4884 no because disabled people aren't part of the total working force so they're out of the equation...

@GWOAT Жыл бұрын

The rest supply the others with sniff 🤧

@kopazwashere Жыл бұрын

most likely young adults trying to find jobs but don't have enough CV lines for manufacturing positions, which seems to be a lot of in said country?

@PonchoANS7 Жыл бұрын

Tax haven. There. Saved you 17 minutes.

@tauceti8060 Жыл бұрын

Hate it when rich people hide from paying their fair share of taxes😡

@robg4074 Жыл бұрын

@@tauceti8060 I dont think being rich is a requirement to have your banking done in Lichtenstein. Im pretty sure you could open up a bank there yourself. Quit yer yappin

@dariuschambliss1221 Жыл бұрын

Thanks for the time save.

@HeavyMetalorRockfan9 Жыл бұрын

literally, if any country is wealthy, but particularly if it is small, you have 2 guesses to cover literally all of them 1) Tax haven 2) Oil economy

@enzonavarro8550 Жыл бұрын

@@HeavyMetalorRockfan9 they are basically the only ways a country can become rich, what is not always possible with oil. Tiny countries just have to take the "tax-heaven" very seriously to survive, and also Liechtenstein makes much of the dental equipments of the hole world, as he said in the video, so Liechtenstein is not just a "tax heaven"

@waynesworldofsci-tech Жыл бұрын

When your country is the size of Liechtenstein even the corner shop needs to think internationally. Liechtenstein is a fascinating place. Thanks for covering it.

@stupididioticspoiledbrat2419 9 ай бұрын

LIECHTENSTEIN is just a lazy rip off of Switzerland.

@islamisthetruewaytogod6812 16 күн бұрын

May Allah protect and guide you to his light and happiness in this life and the hereafter, God bless, Ameen. Excuse me for giving a little presentation of Islam, because it is very misunderstood nowadays, especially on those « Antichrist's » times, where media and politics are mixed to distort history and truth. And terrorists (puppets of the Antichrist) who misinterpret verses, out of ignorance and political motivations, and take them out of historical context (just like radical atheists do by the way) don't help either. Thank you very much for your time. First of all, if you have any questions regarding Islam and yourself, just open the Quran randomly, and you will find the answer in front of you, like a miracle and a sign from God. Islam is an arabic word that means the Surrender to the One and Only God, our Creator, Protector, Provider, who gives us life and all that we have, we are safe and sound by his will and grace, we are His and to Him we return, and we have to thank him in this trial life by submitting to him by our free will, or later in the Day of judgment when it's too late to save our own skin. Islam was the original Religion descended to earth from heaven with Adam and Eve (peace and blessing be upon them) in the beginning of humanity. and was passed to people with the succession of the 124 000 prophets and 315 messengers of God to all nations and civilizations since, passing by Noah, Abraham, Isaac, Jacob, Ismaël, Joseph, Moses, Aaron, Joshua, David, Solomon and Jesus (Peace and blessing be upon them) during the history of mankind, the last replaces and completes the previous, until the succession of the last messenger of God fourteen centuries ago, Muhammad (Peace and blessing be upon him) to complete the noble morals of all mankind, to bring humans and jinns out of darkness into light, and to purify people's religion and belief from corruption and polytheism, and return it to purity and true monotheism, like it was in the times of the prophets (Peace and blessing be upon them). Many Religions that we know nowadays, at their beginning were true and under Islam, initiated by one of the prophets of God, but their original teachings, history and scriptures have been corrupted over time with falsification and polytheism, or lost and replaced with false ones. That's why Islam is the only Religion accepted by God nowadays, which consists in bearing witness that there is no god besides Allah (God in Aramaic, the original language of Jesus and the Gospel), and that Muhammad is His servant and messenger, just like Jesus and Moses and others are His servants and messengers. Never a messenger of God said he was God or literally son of God, it was the people after him who changed the words of God and corrupted the Religion. God is unique and absolute, He does not need to have a family and sons or to associate anyone else with His kingdom, He can simply create whatever He wants, everything belongs to Him, and to Him everything will return. Allah said in Surah Al-Mu’minun : “God has never begotten a son, nor is there any god besides Him. Otherwise, each god would have taken away what it has created, and some of them would have gained supremacy over others. Glory be to God, far beyond what they describe. The Knower of the hidden and the manifest. He is exalted, far above what they associate. (91-92 / Translated by ITANI). Allah means the one and only God, the God of all prophets and creatures, the creator of the universe and mankind, and the Master of the Day of judgment, where our destiny, Hell or Paradise, is decided based on our faith and deeds in this trial life, and above all, Allah's mercy. Allah said in Surah Al-Ikhlas : In the name of God, the Gracious, the Merciful. Say, “He is God, the One. God, the Absolute. He begets not, nor was He begotten. And there is none comparable to Him.” (1-4 / Translated by ITANI). Allah said in Surah An-Nisa : O FOLLOWERS of the Gospel! Do not overstep the bounds [of truth] in your religious beliefs, and do not say of God anything but the truth. The Christ Jesus, son of Mary, was but God's Apostle - [the fulfilment of] His promise which He had conveyed unto Mary - and a soul created by Him. Believe, then, in God and His apostles, and do not say, "[God is] a trinity". Desist [from this assertion] for your own good. God is but One God; utterly remote is He, in His glory, from having a son: unto Him belongs all that is in the heavens and all that is on earth; and none is as worthy of trust as God. Never did the Christ feel too proud to be God's servant, nor do the angels who are near unto Him. And those who feel too proud to serve Him and glory in their arrogance [should know that on Judgment Day] He will gather them all unto Himself: (171-172 / Translated by Muhammad Asad). Allah the Most Merciful said in Surah Ali-Imran : Behold, the only [true] religion in the sight of God is [man's] self-surrender unto Him; and those who were vouchsafed revelation aforetime took, out of mutual jealousy, to divergent views [on this point] only after knowledge [thereof] had come unto them. But as for him who denies the truth of God's messages - behold, God is swift in reckoning! Thus, [O Prophet,] if they argue with thee, say, "I have surrendered my whole being unto God, and [so have] all who follow me!" - and ask those who have been vouchsafed revelation aforetime, as well as all unlettered people, "Have you [too] surrendered yourselves unto Him?" And if they surrender themselves unto Him, they are on the right path; but if they turn away - behold, thy duty is no more than to deliver the message: for God sees all that is in [the hearts of] His creatures. Verily, as for those who deny the truth of God's messages, and slay the prophets against all right, and slay people who enjoin equity - announce unto them a grievous chastisement. It is they whose works shall come to nought both in this world and in the life to come; and they shall have none to succour them. (19-22 / Translated by Muhammad Asad).. God said : Say, “We believe in Allah, and in what was revealed to us, and in what was revealed to Abraham, and Ishmael, and Isaac, and Jacob, and the Patriarchs, and in what was given to Moses and Jesus, and in what was given to the prophets from their Lord. We do not differentiate between any of them. And to Him, we surrender.” (2:136 / Translated by Community) Salam (Peace) -------------------

@brucet.3239 Жыл бұрын

It's mind-boggling that Brooklyn, NY and Liechtenstein are roughly the same size by land area, yet while Liechtenstein has a population of around 38,000, Brooklyn has over 2.7 million!

@r0N1n_SD Жыл бұрын

Thanos was right 😂

@cococalypso6549 Жыл бұрын

im from a island called Guernsey in the English Channel which is nearly 3 times as small but we have a population of 65 thousand.

@jmgonzaga101 Жыл бұрын

Is Guernsey part of England ? I’m always asking this question and I’m facinated on the island

@archieedits- Жыл бұрын

@@jmgonzaga101 yes part of uk

@reddwarfer999 Жыл бұрын

@@archieedits- Guernsey isn't part of the UK, it is a Crown Dependency.

@andrewwilliams6008 Жыл бұрын

Visited Liechtenstein this summer really just to say I’d been there, but it really is beautiful. Vaduz is a small and quiet town surrounded by beautiful mountains and rolling green hills. Walking across the bridge into Switzerland after leaving was magical.

@fabadabean Жыл бұрын

I did the exact same thing! Also went up into the hills above Vaduz - gorgeous landscapes there too

@andrewwilliams6008 Жыл бұрын

@@fabadabean I wish I’d gone up to the castle but I just had brunch at a Vaduz cafe and went up into Appenzell Switzerland

@ondebonde Жыл бұрын

Was it expensive?

@peredavi Жыл бұрын

@@ondebonde No!🙄

@brucebaum1458 Жыл бұрын

How could it not be expensive, like how much for a 3/4 star hotel, average lunch or dinner?

@StopItRyan Жыл бұрын

I had the privilege of meeting Hereditary Prince Alois when I was a kid in the 90s. His family was invested in a business my mother worked at and she was the VPs secretary, I had gone to work with mom that day because it was my birthday and I had the day off school for some reason (teacher training or something). Anyway, he is a very nice person, like not just passing courtesy but he went out of his way to tell me happy birthday and asked about my plans. For a 6 or 7 year old kid, yeah 10/10 experience. I think I told him he sounded like Arnold Schwarzenegger now that I think about it...

@ems4884 Жыл бұрын

Fun story. The European royals who still exist really specialize in positive interactions with the public. They see it as one of their primary roles and many know that if they fall at this, it could mean the end of their monarchy. It's probably also easier to be courteous if you have no financial worries in life and raised to recognize that your privilege comes with responsibilities - something the nouveau riche often lack.

@florianmaier104 Жыл бұрын

@@ems4884 the lord of Lichtenstein is (apart from the Pope, if seen as monarch) the only European noble that still holds and uses effective powers in the country.

@Someone-cd7yi Жыл бұрын

@@florianmaier104 Monaco?

@suryahadiwinatas2932 Жыл бұрын

@@florianmaier104 Principality of Monaco and Grand Duke of Luxembourg

@user-iu2um8fd8n 6 ай бұрын

There are regular parties in Liechtenstein where you can chat with the princely family. Without prior registration, and also as a foreigner/tourist. That is quite normal there.

@icreatedanaccountforthis1852 6 ай бұрын

Main reasons: - tax haven - highly specialized manufacturing - tax haven - well run government - tax haven Would be interesting to see how well they do if they got rid of being a tax dodge.

@robertmcnamara5407 6 ай бұрын

Interesting choice of words. Tax dodge. If creative accounting is done legally on an international level it is not a tax dodge, it's good business provided the company does not receive Liechtenstein sourced income. Then they're taxed. Works well.

@nathanlevesque7812 6 ай бұрын

"creative accounting" is code for bullshit. "legally on an international level" is a nebulous notion. "good business" for who? @@robertmcnamara5407

@dimmacommunication 6 ай бұрын

Well... it's not that country to have low taxes are the others to have stupidly high ones just to fuel wars and suffering, corruption etc...

@radidov5333 6 ай бұрын

basically a tiny Switzerland

@dimmacommunication 6 ай бұрын

@@radidov5333 It could be Switzerland's swiss , matter of fact swiss people are forbidden to use some financial stuff of Leichtenstein

@charlesmoss8119 Жыл бұрын

The only thing I would say is for the casual visitor it has long since lost much of the quaint surroundings and beautiful old buildings with painted facades and wood shingle that I remember with such joy from my childhood. Vaduz in particular feels horribly bleak with ill thought out pedestrianisation and a devotion to strange cube architecture! As a place to do business though it’s great and if you push up into the mountains some of the walks are spectacular, the three sisters is a favourite with wonderful views.

@islamisthetruewaytogod6812 16 күн бұрын

@TrionSixteenisawsum Жыл бұрын

I went to liechtenstein over summer, explored vaduz and the castle and went hiking. The views on the hike were absolutely stunning and the city seems so well run and polished despite being so tiny

@remina1 7 ай бұрын

I also visited last year and hiked border to border, whole country was beautiful and insanely clean. The people where also very friendly. Would love to go back.

@nateg.6187 5 ай бұрын

to be clear... "despite" is used incorrectly here... to be well run and polished is literally the easiest part of the job when they are so tiny.

@jeremiahreilly9739 Жыл бұрын

Note: GDP per capita is inflated if workers are not resident in Liechtenstein, because per capita GDP is calculated by dividing GDP by the population. Still a very rich country.

@arthas640 Жыл бұрын

Yeah these sorts of clickbait videos always kind of bug me since they're extremely misleading and because they make people think it's a gameplan other countries could follow. Lichtenstein is mainly wealthy for being a tax haven right next door to Switzerland, France, and Germany and despite "technically" having a GDP per capita of $180k the real average wage in the country is closer to $70k. Still high but it's lower than some US states. Lichtenstein is wealthier than most tax havens but that's a common problem with many of them.

@cek0792 11 ай бұрын

@@arthas640 France and Germany doesn't have a GDP per Capita over $100k. Also it's not clickbait, it is true that if you measure the country with GDP per Capita then it'll be one of the richest in the world. If you want to account for the status of citizenship of the people working in Liechtenstein, use the metric called GNP (Gross National Product) then per capita it is or was actually the richest in the world according to 1998 World Bank data.

@hassangingi7033 Жыл бұрын

Ireland surprised me, once ravaged by the worst famine that drove 80 percent of its population to migrate ,a country that was one of the poorest in Europe to 4th richest

@alexyuu952 Жыл бұрын

any country with small population and is somewhat ok in terms of corruption can just got for that low corporate tax. Especially efficient when bordering strong economies directly. just tax heaven "magic".

@TG-ts3xn 10 ай бұрын

Another tax haven. Immigration will take Ireland now…

@christopherellis2663 10 ай бұрын

180 years later

@musicwelikemang 6 ай бұрын

Tax havens are a cheat code. Its a race to the bottom for small nations.

@overlordbrandon 6 ай бұрын

Are yoy sure about that? GDP is rising but have you seen what actually is in there?

@rudolfkraffzick642 Жыл бұрын

The upper Rhine River valley where Liechtenstein is situated is by no means isolated. An old trade road from or leading to Italy runs through the valley. In the 19th century a railroad was added. The Zurich International Airport is nearby.

@cek0792 11 ай бұрын

@Anno Kitsune International or Domestic?

@wllywaliy Жыл бұрын

The company Hilti is located in Liechtenstein. It's so crazy that a multi-billion dollar global company like that could come out of such a tiny country!

@harryjohnston2870 Жыл бұрын

TAX.

@wllywaliy Жыл бұрын

@@harryjohnston2870 It was founded in and grew out of Liechtenstein! Not some billion dollar company that moved there for tax purposes (although I'm sure they probably get some special treatment in that department)

@alastorgdl Жыл бұрын

@@wllywaliy said "It was founded in and grew out of Liechtenstein" MOST companies are founded and grow in tax paradises from the beginning

@ricgunn1439 Жыл бұрын

Hilti great tools😊

@maxsonthonax1020 Жыл бұрын

So much gullibility. I guess that's how this guy is able to make his money too from padded-out You-Tube videos.

@Metal0sopher Жыл бұрын

So just like Dubai, Singapore, and Hong Kong. A small city state taking advantage of it's location between much larger economic juggernauts.

@matsdunkler746 Ай бұрын

Dubai is actually an emirate and city in the United Arab Emirates

@cisium1184 Жыл бұрын

Wanted to see Liechtenstein for awhile now. When I was on Facebook I followed a skier from Liechtenstein who posted a lot of photos of her country. I'll get there someday.

@ken-gl8kf Жыл бұрын

Can u share her name?

@grissee Жыл бұрын

even thought World of Tanks ad on a video like this feels goofy, it is still much better than Masterworks or Established Titles

@maxsonthonax1020 Жыл бұрын

Yet it is the whole point of making the video: to be a revenue stream.

@ROXANNE708 Жыл бұрын

Thank you for another fantastic video. 👍

@dwight7651 Жыл бұрын

Good research and presentation thank you

@HouseJawn 6 ай бұрын

Good video, positive topic, no drama, no hyperbolic title. Good quality positive information, love it, good work 😊👍

@gtbkts Жыл бұрын

Thanks for the awesome content and great video!!!

@brucewilson1958 Жыл бұрын

Thank you. I learned a lot. Now, I would like to visit there. Quite beautiful. Bravo.

@TheLegenDacster Жыл бұрын

1/ Stay out of wars, except for sales revenue. 2/ Maintain a small population 3/ Accept managing as much money from anywhere and anyone (no questions asked) as you can.

@CHMichael Жыл бұрын

1:00 notice! They had a Leonard DaVinci painting to sell. Who else can say that? The "super rich" investing in its people actually works better than taking their money.

@maxsonthonax1020 Жыл бұрын

"Its people."

@Kraut_the_Parrot Жыл бұрын

marvelous as always :)

@CasualScholar Жыл бұрын

Thank you so much Kraut :)

@bigozimak Жыл бұрын

It's very odd how three of the smallest countries in Europe are also the wealthiest. So, how does one become a Liechtensteinian!

@frisco1968 Жыл бұрын

Liechtenstein is known for its XX thousands of „letterbox companies“ = tax haven

@sandrineroesch8706 Жыл бұрын

It’s very hard to get in and reside. As a company,it’s easier. And citizenship is extremely hard to obtain

@jeortiz-luis4288 Жыл бұрын

I hope they are very selective with 'immigrants', the wrong kind destroys nations like the US, UK and france

@ricgunn1439 Жыл бұрын

Be a ski champion

@maxsonthonax1020 Жыл бұрын

It's not odd, it is logical. Were you not paying attention? TAX HAVEN.

@funny-video-YouTube-channel 6 ай бұрын

In short : Lichtenschtein offers financial products and services in US and the EU. That was not mentioned in the video as much as it should have !

@bendimi3992 Жыл бұрын

Gorgeous country with gorgeous people 👍❤️ GREETINGS FROM SERBIA 🇷🇸❤️❤️❤️❤️❤️

@bingo737 Жыл бұрын

Normal people, like everywhere else.

@jordijimenez2634 Жыл бұрын

That’s 99.9% of the world

@krinkovakwarfare Жыл бұрын

Basically Tiny factory for sophisticated equipments Accounting department for multinationals Tax Haven similar to Switzerland

@TheAmos1 Жыл бұрын

a type of Delaware corporate address but not as shady as a cayman island address

@nashwagemakers Жыл бұрын

Funfact: Liechtenstein is home to one of the biggest Rollercoaster Manufactorers in the world. Edit: forgot to add the name. It's Intamin, known for rides at Universal Studios, Phantasialand, Efteling, Six Flags and more

@seanbryan1739 Жыл бұрын

Without saying the name, it’s not fun at all. Boring

@ChristianHeinemann Жыл бұрын

@@seanbryan1739 en.wikipedia.org/wiki/Intamin

@MattCooperKay Жыл бұрын

Huh, I had no idea Intamin were based there.

@nashwagemakers Жыл бұрын

@@seanbryan1739 Forgot! Intamin :)

@nashwagemakers Жыл бұрын

@@MattCooperKay yea quite insane but also cool

@harrysutton8998 Жыл бұрын

Watched this video as a while back I had the bizarre experience of playing for the Prince of Lichtenstein’s stag do. One reason they may be so rich is it took us months to get paid by the best man, who naturally was a vintage Ferrari dealer….

@josephturner7569 Жыл бұрын

The only country in history to send its army to war and returned +1. With no casualties.

@EkoFranko Жыл бұрын

This is a myth

@alonglostmemory1908 Жыл бұрын

@@EkoFranko Religion is also

@alonglostmemory1908 Жыл бұрын

@@EkoFranko That's the beauty about myths

@feliciaf8 7 ай бұрын

@@alonglostmemory1908 not related to the statement at all

@kevindarroch7332 Жыл бұрын

Lichenstein, it is a truly beautiful country. Smart, thinking people.

@matthiasthym7431 Жыл бұрын

Could make a video about the steel industry of Luxembourg :)

@6861Charley 5 ай бұрын

I visited Liechtenstein in September 28 and found the country exciting and beautiful. On December 24 as part of my Winter Wonderland vacation I'll be visiting Liechtenstein again and 3 other countries around it.

@NelsonTemplar 8 ай бұрын

I think that many people here in the US know of the name Liechtenstein, only because of Heath Ledgers character William Thatcher posed as 'Sir Ulrich von Liechtenstein' from the movie: A Knight's Tale.

@asgautbakke8687 Жыл бұрын

Until a bad bank scandal in a Swiss bank in the early 1970's, Liechtenstein was known in Switzerland as "the Swiss bank of the Swisses themselves".

@paulhouston4500 Жыл бұрын

wonderful country.. as i watched the whole video, i got to understand that it has a lot of factors, ill try to enumerate some: 1) Less corrupt citizens 2) Less population is more manageable 3) Very discipline and articulate contributing in innovation sector 4) tax haven 5) The system of governance is so good that neighboring countries commutes daily just to do businesses and even work under their system 6) non toxic competetive citizens 7) trustworthy high value citizens and more... meanwhile in my country, politicians and authorities are busy devouring the people thru corruption... corrupted heart is way more difficult to deal with and will result to different kind and deeper level of corruption, not just the shallow thing about money

@sasi5841 Жыл бұрын

This The success or failure of almost any political system hinges on points 1, 6 and 7

@feliciaf8 7 ай бұрын

this@@sasi5841

@cuervoblanco71 6 ай бұрын

true

@timfronimos459 9 ай бұрын

This should be mandatory viewing in every business school. Awesome channel.

@mehmedkhan.6198 Жыл бұрын

I'm definitely moving to liechtenstein any time from now.

@tabeagyger9581 Жыл бұрын

Fun fact: Lichtenstein doesn‘t have an army but sends their recruits to the swiss military for training. 😄 just don‘t ever get in a fight with big sister Helvetia 🇨🇭

@elismart13 Жыл бұрын

Great Video, watched in college during a Break 😎😄

@elismart13 Жыл бұрын

replies wont load, so im replying to myself lol (nope I still cannot see the other reply)

@thelonewanderer2550 Жыл бұрын

Damn I was hoping for a video about Luxembourg, but this is great too...

@AboveBoardAndBeyondControl Жыл бұрын

Once again, Casual Scholar delivers another fantastic video! Very informative and entertaining!

@hevnervals Жыл бұрын

It's not a great analysis, and it's full of baseless assumptions.

@ROXANNE708 Жыл бұрын

@@hevnervals 👎

@ROXANNE708 Жыл бұрын

@Footnote Society AGREED!

@maxsonthonax1020 Жыл бұрын

I think if you listen closely it is neither of those things. It's merely a vehicle for a revenue stream.

@ROXANNE708 Жыл бұрын

@@maxsonthonax1020 I beg to differ. The videos are well researched, educational and extremely well produced. If it were just a revenue stream he would be slapping them together and pumping them out every week. 🙄

@nicolasbouyiouclis4726 Жыл бұрын

Very nice and informative show, thumbs up! I enjoyed it... Good for them.... but I have no intention even driving nearby the place anytime soon.... I'd rather spend my time at the Greek Islands forever....! Sorry..

@richardtheweaver4891 Жыл бұрын

"Free market" is a heck of a description for a tax dodge. They provided a way for companies to legally lie about their location in order to avoid paying their fair share of taxes. Liechtenstein was taking what amounts to a commission for facilitating immoral activity.

@smparreira Жыл бұрын

Kenneth Selin 2 days ago SMART corruption-free POLITICS makes for A PROPEROUS NATION. Undoubtedly. :D Ken, Toronto, Canada

@gd8407 Жыл бұрын

What a STUPID description. Do you really know what you are talking about?

@sasi5841 Жыл бұрын

Lmao dodging taxes isn't immoral, and paying taxes isnt moral. They are amoral things. Also, objectively speaking, there is no such thing as "fair share of taxes".

@webstercat Жыл бұрын

Taxes are immoral

@12vscience 10 ай бұрын

Maybe those companies were tired of people putting their hands in the companies' pants and grabbing the wallet. The governments should try to ease the tax burdens on everyone and keep taxes low. And the citizens should try to pay for goods and services individually instead of making everyone else. That is if we want to keep things fair.

@jackuzi8252 6 ай бұрын

One other factor that's not mentioned is simply that Liechtenstein did not border any state of the Holy Roman Empire other than Austria. The HRE was dissolved in 1806; after Napoleon was defeated in 1815, Prussia slowly began to emerge as an economic and military power, resulting in the founding of the German Empire in 1876 and effective annexation of the other German states. But Liechtenstein was and is separated from the nearest point of Bavaria by about 20 miles as the crow flies. THIS is the geographical oddity explaining why the country still exists.

@martinemjt Жыл бұрын

many world leaders could take lessons from liechtenstein on keeping taxes low, investment inflowing and citizen wealth up! keep up the good work!

@maxsonthonax1020 Жыл бұрын

An astute & moronic analysis. 🤔

@todoldtrafford 2 ай бұрын

@@maxsonthonax1020moronic to say to invest and not waste money?😂

@gnotagnome24 4 ай бұрын

Liechstenstein: The Delaware of the Alps!

@rodneypate1693 Жыл бұрын

Very interesting. Great video

@HouseJawn 6 ай бұрын

Congratulations to this channel for NOT making an obnoxious clickbait title with words in all CAPS 😱

@KayKay21 Жыл бұрын

Very well made video. Take my sub.

@CasualScholar Жыл бұрын

Glad you enjoyed! Welcome to the channel!

@kevinblankenburg4816 Жыл бұрын

Before even watching the video... Liechtenstein is not a valley... It is located on the eastern bank of the river Rhein. So half a valley...

@nolesy34 Жыл бұрын

What a trick! I feel more enraged then when i met a real girl who said she lived in the hood.. She was in fact. From the valley now Vacate in Atlanta, then she going back to Cali Got your girl on my line, world on my line The irony I fuck 'em at the same damn time She eyeing me like a nigga don't exist Girl, I know you want this dick Girl, I'm Kendrick Lamar Aka Benz is to me just a car That mean your friends need to be up to a par See my standards are pampered by threesomes tomorrow Kill 'em all dead bodies in the hallway Don't get involved listen what the crystal ball say Halle Berry, hallelujah Holla back i'll do ya Beast I love bad bitches that's my fuckin problem And yeah I like to fuck I got a fuckin problem I love bad bitches that's my fuckin problem And yeah I like to fuck I got a fuckin problem I love bad bitches that's my fuckin problem And yeah I like to fuck I got a fuckin problem If finding somebody real is your fuckin problem Bring ya girls to the crib maybe we can solve it

@tehranoffers6346 Жыл бұрын

Great Info 😍

@ahfez 6 ай бұрын

The genius leader who started the foundation of it all is the key to this massive success.

@asierescobal1248 Жыл бұрын

Dont' stop Liechtensteining! As a live motto

@dorktriogamer2865 Жыл бұрын

This kinda shows to me that no matter a countries unfortunate situation it can still work well

@valtontony826 Жыл бұрын

except if they're in an ongoing war

@EUenjoyer Жыл бұрын

Untill their tax Is zero and they leech on other countries, yes they can still work very well

@Soff1859 Жыл бұрын

Its actually more the opposite. If a country has a "fortunate" situation, like natural resources, that often causes more problems than it solves. Its called the resource curse. Discovering natural resources is pretty much only good for the population of a country as a whole, if the country is already an advanced economy and democracy. Such as Norway and Scotland. If a poor country discovers oil/gas/diamonds/gold it almost always ends in disaster.

@shauncameron8390 Жыл бұрын

@@Soff1859 Scotland is not rich.

@sasi5841 Жыл бұрын

@@Soff1859 democracy part isn't necessary, but transparency and lack of/reduced corruption is necessary. Other than that you're correct. Democracy is just another political system and not something special. How well any political system operate depends on the people that are part of it.

@reyinfante5553 8 ай бұрын

Besides lucky enough to be near Switzerland and the right courses of action, it looks like the Prince or the King at that time is not corrupt and donates his assets to save his country.

@drthrottle Жыл бұрын

Good summary!

@TheZaratustra1989 6 ай бұрын

short answer: money laundry

@owen2886 Жыл бұрын

I am actually doing a research assignment for this country for a college class. Does anyone have any good books about Lichtenstein that arent extremely expensive?

@DaShooter12 Жыл бұрын

use your college databases

@owen2886 Жыл бұрын

@@DaShooter12 I checked there, they don’t have any real books. I need at least two real books. I don’t have to have the physics copy of it, but it needs to exist as a book

@StripedJacket Жыл бұрын

@@owen2886 go to a library and ask the librarian. Their job is literally to help with research

@apveening Жыл бұрын

I suggest you check the CIA World Factbook.

@alaricboyle-poirier6931 6 ай бұрын

These videos are great.

@funfnummer4468 Жыл бұрын

Liechtenstein's royal family is the best example for other royals. They should love their state not their title.

@apveening Жыл бұрын

@@hoppingrabbit9849 While outdated, there are some advantages. As for good examples, see most European monarchies, the Japanese emperor and the late Thai king Bhumibol Adulyadej.

@hello-friend990 Жыл бұрын

@@hoppingrabbit9849 I'm living in a regal system. The bureaucracy means things get done quicker without red tape

@sasi5841 Жыл бұрын

@@apveening there is no such thing as an outdated political system.

@apveening Жыл бұрын

@@sasi5841 You just failed English 101.

@sasi5841 Жыл бұрын

@@apveening elaborate further

@timo4223 Жыл бұрын

i studied in Liechtenstein, can tell you one thing. Its one of the most boring places i've ever been to.

@quotethequote3877 10 ай бұрын

In population terms one Liechtenstein dies in India every day.

@mczougames1114 7 ай бұрын

A Linnister always pay their debts -Tyrion Lannister

@justintrefney1083 Жыл бұрын

I love Liechtenstein! it is my favorite country. Prince Hanns Adam II is an amazing man. His book "The State In The Third Millennium" changed my life.

@rubyclark7595 Жыл бұрын

WOW!!! Great History

@majorfallacy5926 6 ай бұрын

Liechtenstein's most important assets are its tax treaties with the US (and some others)

@ScepticalSkeptic Жыл бұрын

The Republic of Ireland soccer team once held Liechtenstein scoreless. #Memories.

@dontcomply3976 Жыл бұрын

Pick on a country your own size

@JosephJoboLicayan Жыл бұрын

0:49 what do you mean by "Leonardo da Vinci's counterpart to the Mona Lisa..." da Vinci MADE the Mona Lisa, what 'counterpart' is there?

@SilenceOnPS4 Жыл бұрын

Please look up the definition of counterpart😉

@StripedJacket Жыл бұрын

The painting “Ginevra de’ Binci” is another one of his works and is considered to be the Mona Lisa (the painting’s) counterpart. Maybe you just didn’t understand it? So I’ll reword his words: The counterpart to the Mona Lisa by Leonardo da Vinci This conveys the same exact meaning

@JosephJoboLicayan Жыл бұрын

@@StripedJacket even if you add a phrase, for clarity, that it is by leonardo, it still wont make sense in a grammatical sense due to the usage of the word 'counterpart'. Cant believe im going to have to go full grammar na - zi on this but he reason why this caught my attention is because normally when you attach the word 'counterpart' it is supposed to be comparative or a very literal mirror case of "the other side". You do not use the word 'counterpart' when there is no "other side" of the subject. For example, " The T-34 is the Russian Counterpart of the German Panzer 4." In the case used in this video's opening, 'counterpart' references two painting that ARE BY THE SAME PERSON, da Vinci, which is an erroneous use of the word as there is no comparative function, there is "no other side". It doesnt answer thr question of what or whose is it the counterpart of. It just doesnt make sense to the way the word is used.

@StripedJacket Жыл бұрын

@@JosephJoboLicayan coun·ter·part /ˈkoun(t)ərˌpärt/ noun 1. a person or thing holding a position or performing a function that corresponds to that of another person or thing in another place. With the definition it fits as this painting corresponds to the other. It doesn’t mean exact counter like you think it is lol The painting is the counterpart/corresponds to the Mona Lisa (another painting) since they’re both made by Leonardo

@melissahouse3488 Жыл бұрын

Counterpart: Partnering or sequel?? 🤷🏼‍♀️

@ginabelisario9282 Жыл бұрын

Being small has a positive equity inside and outside of other countries. Ability effective and accountable government.

@youngthugger8736 11 ай бұрын

can you make one of these videos on switzerland please

@sriharshacv7760 Жыл бұрын

The first thought that came to my mind: Tax haven

@gd8407 Жыл бұрын

SHORTSIGHTED !!!

@AlexSeesing Жыл бұрын

Very interesting. Compare this against Luxembourg and The Netherlands in this order. And to be complete, feel free to also include Belgium for any reason you think is fun.. Uhm, right.

@williamflaherty3168 Жыл бұрын

The Swiss halo effect!

@attilabpc542 6 ай бұрын

Apart from the machine voice over, it is an enjoyable and informative video.

@ThePoliticalAv Жыл бұрын

Why does the thumbnail make Liechtenstein look like it's in a desert?

@moviesgalore9947 Жыл бұрын

I prefer the even smaller tiny Duchy of Grand Fenwick from the two hilarious movies "The Mouse That Roared" and "The Mouse on the Moon" those movies are brilliant satires.

@franko8572 Жыл бұрын

America licking they chops like “hmm.. what’s our angle, how we getting that oil”?

@annarozell7671 6 ай бұрын

I've been there! Was wonderful!

@marklisiecki5790 Жыл бұрын

God bless the Western civilization !!!!

@Maria-sz1fc Жыл бұрын

Excellent health care and education financed by other nations' taxes. There is always some shady shit isn't there

@alexyuu952 Жыл бұрын

Yup, miracles dont just happen

@charmerci 8 ай бұрын

I don't think a lot of those images when he's speaking about Liechtenstein are of the country. (I know that there are images of Switzerland when he's speaking about Switzerland. I recognize many of those including Zurich and Bern.)

@eyemc2450 6 ай бұрын

No. there are just a few seconds of images of Zurich

@user-iu2um8fd8n 6 ай бұрын

Almost everything looks like Liechtenstein, I have been to the country several times and live very close by. However, Liechtenstein is no different from Switzerland or western Austria in terms of landscape and architecture.

@NomadicCreator Жыл бұрын

Anyone think of Knights Tale everytime he says Liechtenstein?

@realShikha885 Жыл бұрын

Having Austria and Switzerland as neighbours makes them instantly rich.

@nolesy34 Жыл бұрын

Imagine going over your neigbours for a cup of sugar they give you, A gilded mug of hot drinking choclate and a swiss bank account

@xenotypos Жыл бұрын

To be fair, it's the story of most successful tax heavens. The idea is always the same, the success often depends on the location.

@mrpoxycat3967 Жыл бұрын

It's almost as if it better to keep government small and decentralized.

@gd8407 Жыл бұрын

Please CHECK what a "tax heaven" is (perhaps consult OECD - if you know what that means - which I doubt LOL).

@xenotypos Жыл бұрын

@@gd8407 Most definitions of a tax haven agree with me, please open a dictionary before trying to act with condescension, maybe you'll seem less ridiculous. The OECD made up definition, lost all credibility for almost everyone after it was pointed that in 2017 only Trinidad and Tobago met their criteria anymore. So get over it, I don't know if you were triggered because you live in Liechtenstein or something, but that country can clearly be considered a tax haven. No matter how you feel about it.

@MazdaRX7007 Жыл бұрын

@@xenotypos Bro I think he's just highlighting how you wrote tax heaven and instead of tax haven.

@arthas640 Жыл бұрын

Being a tiny country in the EU surrounded by wealthy countries and large economies with high taxes helps a lot.

@ilovesuisse1 Жыл бұрын

Liechtenstein uses our currency, the Swiss Franc.

@Erakius323 Жыл бұрын

I liked the older title. Still, good video.

@buglerplayz7497 Жыл бұрын

Well when it went to war they gained a soilder

@natansecret8580 Жыл бұрын

Its not true its a myth

@nikhileditz-25 Жыл бұрын

@@natansecret8580 oh sad

@alonglostmemory1908 Жыл бұрын

@@natansecret8580 Same as religion?

@marinhobrandao Жыл бұрын

A nice way to picture a tax haven 😄

@rbtsubs Жыл бұрын

So the Alaska part?

@barryday9107 Жыл бұрын

Can we force our daft chancellor of the exchequer to watch this before he delivers the upcoming budget?

@mhdibm7515 Жыл бұрын

I really wish we can have similar success stories here in the african continent

@nukesrus2663 Жыл бұрын

Give it a few decades. I believe it will happen.

@DeprogAxA Жыл бұрын

Rwanda is doing it

@arnaroghael8565 Жыл бұрын

stop imigratin and with that loosing your brightest individuals, most black doctor in use and eu are from africa. thats lost potential for continent.

@arnaroghael8565 Жыл бұрын

@@hoppingrabbit9849 "remittances " you talking about mony immigrants send back home? If that's economic plan of Africa then that is the dumbest plan in history of mankind, Europe will soon be in rude awakening because of prices and especially energy which practically don't have lots of companies leaving, inflation killing euro,so salarys 3 months ago dosen't have same value as now,war is coming, on the other hand africa has everything and even more,it laks talent and social structure and with that industry and economy will rise, and regardless with all that potential you without of shame telling me that African prosperity laying in monye sent by immigrants to ther home country, that is embarrassing comment from your view point .

@ult7511 Жыл бұрын

@@hoppingrabbit9849 That would be a good move if you're government use those remittance money in good use, not in corrupt way.

@hevnervals Жыл бұрын

I don't really see how a country's size makes it less corrupt, or its politics more efficient. It's not like counties in larger countries aren't corrupt or mismanaged.

@NiceGuyMarek Жыл бұрын

I mean it seems pretty simple why it would be less corrupt

@hevnervals Жыл бұрын

@@NiceGuyMarek It's not simple. Such things are multifacated. There are cultural and historical factors as well

@hevnervals Жыл бұрын

@Marek Maisonneuve Why is Iceland more corrupt than Germany? Iceland has a population of 370 000. I don't have the answers, but neither does Casual Scholar.

@gd8407 Жыл бұрын

Question: do you as fahter manage your family with 2 children better or less than with 12 kids? Once you find the answer you will see what I am talking about.

@hevnervals Жыл бұрын

@@hoppingrabbit9849 No correlation