153,070,250 Videos Watched

Age Filter: Click to Set

Embed Video
Embed Video:
URL of source video:
Simply give the URL and we will get the embed code automatically, if we support embedding from the site.
Directory
Please wait...

Some content viewed on WatchKnowLearn is hosted by other websites.

Rating:

Not Right For WatchKnowLearn

Remember to Rate

Not Right For WatchKnowLearn
WatchKnowLearn ratings are intentionally harsher than what you might find on YouTube, for example. Most of our videos have been imported by people who want to use them with kids, not by the creators of the videos. We take a hard-nosed attitude toward quality. Four and five stars should be reserved for really excellent quality. Three stars isn't bad. Two is often watchable and shouldn't be ruled out.

  • 5 stars = Exemplary.
    Unusually helpful and well produced. Do not overuse this, please; it is not the standard rating for decent work, as it is elsewhere.
  • 4 stars = Very Good.
    Very helpful but not among the very best; adequately produced, at least.
  • 3 stars = Usable.
    Reasonably helpful, perhaps a bit amateurish in production or has some other problem; there is nothing wrong with a 3-star rating for amateur work!
  • 2 stars = Some Merit.
    Minimally helpful; not completely worthless or inappropriate; you can see how it might be useful to some people.
  • 1 star = Not Right for WatchKnowLearn.
    Not at all helpful, not educational, poorest quality, etc.; you can't see it being useful to anyone.

More help with rating

Add To Favorites
Add To Classroom
Add video to Featured
Flag This Video

1,511  views

From YouTube (Approved: teresahopson), produced by Marginal Revolution University
 
If you look at the African continent, perhaps the first word to come to mind is "enormous." And that's true. You could fit most of the United States, China, India, and a lot of Europe, into Africa. But if you compare Africa to Europe, Europe has two to three times the length of coastline that Africa has.

But what does coastline length have to do with anything?

Well, coasts mean access to water.

As benign as water might seem, it’s a major driver of economic growth. Adam Smith, the father of modern economics, argued that access to water reduced the cost of trade, and gave merchants access to larger markets. These larger markets incentivized specialization and innovation.

These twin processes ultimately spurred trade activity, and consequently, economic growth.

As an end result, civilization tended to grow wherever trade was easiest.

If you want proof of this, think of a few major cities.

Look at Istanbul, New York, Venice, Hong Kong, London, and similar areas. What do they all have in common? They all sit near a major coast or a major river. In contrast, look at some of the poorest areas in the world—places like Kampala, or Pointe-Noire. These places are all landlocked. Since goods are easier to transport over water than over land, trade in landlocked areas is more expensive.

And what happens when trade is more expensive?

It becomes harder to spark economic growth.

What this all means is economic growth is not only affected by a country’s rules and institutions, but by a country’s natural blessings, or natural hindrances, too. The effects of geography on growth cannot be discounted. (02:48)
 
Ages: 14 - 18 License: Educational Community License Owner: Marginal Revolution University Found by MRUniversity
  • Unless changed, the Finder is the person who uploaded the video to WatchKnowLearn.
  • The Finder is allowed to "lock" information about the Owner and Producer (so other accounts cannot edit this information). The Finder field should match the Owner field when a video is entered in a contest.
  • As owner of a video, you can have finder rights transferred to you.
Simply click "Request Finder Rights" and an e-mail will be sent to the current Finder of the video. The Finder may then transfer rights to you. If he or she does not, bear in mind that an Administrator will see the refusal of your request and will be able to review it.

More help about the Finder field
 

History [show]


Loading history...

Comments
Please make your comments on videos positive, and not just negative.

People work hard on educational videos, and we want to encourage them to make more!

  • Profanity (curse words), sexually suggestive remarks, and other such obviously inappropriate comments will be deleted immediately, and are grounds for immediate expulsion. Remember, children use this website.
  • Personal criticism on project forums and in video content is not allowed and will be deleted immediately. Any violations of this rule could result in expulsion from the project so please, no insults or other negative personal remarks.
  • Very harshly-worded criticism of content will also be deleted promptly. Please use your vote to express your harshest feelings. Repeated violations of this rule can result in expulsion. If you must criticize another person's hard work, then be nice about it.
If you want to comment, please sign in

Share