How Ireland is Secretly Becoming the Richest Country in the World

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In the mid-19th century, Ireland experienced a devastating period of starvation and poverty known as the Great Hunger. The potato fields, which were a main source of food for the Irish population, were decimated by a deadly pathogen, leading to the death of 1 million people, or 11% of the entire population, in just seven years. The effects of this disaster were long-lasting and the population of Ireland has never fully recovered.

Despite this, Ireland has managed to transform itself into one of the wealthiest nations in the world. It has achieved rapid economic growth and its citizens are among the most educated, wealthy, and happy in the world. However, this transformation is somewhat mysterious, as Ireland does not have any inherent qualities that would make it particularly well-suited for prosperity. It does not have abundant natural resources like other wealthy nations, and it has a relatively large population compared to other rich micronations.

In 2015, Ireland achieved an aggregate GDP growth rate of 25.2%, the fastest of any nation in the world. This growth has continued and it appears that Ireland is on track to become the wealthiest country in the world. But how exactly did Ireland become so incredibly rich, and is this economic miracle just too good to be true?

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– Contents of this video --------------------------------
00:00 - Ireland's Economy
01:28 - Second Richest Nation on Earth
03:44 - Why Ireland was so Poor
05:35 - Economic Nationalism
07:02 - Ireland Opens up to the World
09:10 - The Sick Man of Europe
10:55 - The Celtic Tiger
15:22 - Leprechaun Economics
17:13 - Ireland Today & Tomorrow

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– Sources used ---------------------------------------------
-Nominal GDP per capita sourced from the IMF
-https://cadmus.eui.eu/bitstream/handl...
-https://www.britannica.com/event/Grea...
-https://www.rte.ie/brainstorm/2022/03...
-https://data.worldbank.org/indicator/...
-https://www.macrotrends.net/countries...
-https://www.economicsobservatory.com/...
-https://www.economist.com/europe/2013...
-https://www.economist.com/special-rep...
-https://www.irishtimes.com/business/e...
-https://growthlab.cid.harvard.edu/fil...

#Ireland #IrelandEconomy #IrelandHistory #Economics #CasualScholar