How an Isolated Valley Became the World’s Richest Country

From Casual Scholar.

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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

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– 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

#Liechtenstein #LiechtensteinEconomy #LiechtensteinHistory #Economics #CasualScholar #History