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The continent was planned as a giant prison where criminals were exiled. At the end of the eighteenth century, the most apparent future for this country was a huge ghetto with a poor, miserable population, where everyone was engaged in crime. However, the exact opposite happened; not only did Australia become one of the wealthiest countries in the world, ranking 11th in terms of GDP per capita as of 2022, but it also created the most unfavorable conditions for corruption opportunities. We tell the story of one of the most prosperous countries in the world. Subscribe to the best Ukrainian YouTube channel on economics - https://bit.ly/costua_youtube 🤝Support our work: 💰Buy us coffee - https://www.buymeacoffee.com/costua/m... 💰Become a patron / costua Become a sponsor of this channel to support the creation of new videos: / @costua 💰Transfer by card https://secure.wayforpay.com/donate/d... 💰 PayPal: [email protected] (specify "on video") 💰 Support us - buy the best books on economics https://sgo.one/QwXCXc and gifts for your loved ones https://sgo.one/eROHIH 00:00 Introduction 02:36 Establishment of the colony 04:45 Justice for convicts 06:00 Australia and the rule of law 07:35 The evolution of residents' rights 09:23 Rum - a measure of value 11:58 Ex-convicts and the struggle for political rights 14:24 Democracy Index. Australia's place 15:32 Creation of the national currency 16:37 The Korean War and sheep farming in Australia 19:22 Agriculture 23:00 Index of economic freedom 23:40 Mining and quarrying 24:28 GDP structure 26:25 Human capital development 27:52 Migration policy 30:34 Export of educational services 31:36 Healthcare system 33:19 Pension system 38:37 Tourism 40:04 Housing in Australia 41:49 Life of indigenous peoples 44:31 Dependence on China's exports/imports 46:02 Support for Ukraine during the war #economy #australia #history