PLAY PODCASTS
How the World's Richest Country Lost 90% of its GDP

How the World's Richest Country Lost 90% of its GDP

Economics Explained

December 24, 202216m 0s

Audio is streamed directly from the publisher (mgln.ai) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.

Show Notes

In the 1980s Nauru was the richest country in the world on a per capita basis. Nauru's wealth can be entirely attributed to its deposits on Phosphate, a substance used in fertilizers. However, by the early 2000s they had completely run out of Phosphate the country's GDP declined by more than 90%.

Learn more about your ad choices. Visit megaphone.fm/adchoices