Switzerland Should Be Poor. Here's Why It Isn't

Why Switzerland is so rich with no resources: no sea, no oil, no gold mines, and in 1817 its people were eating grass. Today it is one of the richest countries on Earth, and the reason is not the one you think. So why is Switzerland so rich? Here is how Switzerland got rich, step by step, with real history. From Swiss mercenaries rented out to the kings and popes of Europe, to Swiss neutrality guaranteed in 1815, to four lucky accidents: Calvin's watchmakers, the Swiss franc, the Gotthard tunnel and the chemists of Basel. Then Swiss banks and the 1934 law of Swiss bank secrecy, the Second World War, and the bill that finally arrived: 1998, UBS in 2009, the end of banking secrecy in 2018 and the collapse of Credit Suisse in 2023. And why the Swiss economy is still rich anyway. A story of economic geography and the history of Switzerland: why countries are rich, why some stay poor, and how a small mountain country turned having almost nothing into its biggest advantage. Switzerland explained, with animated maps. This is an animated documentary. CHAPTERS 0:00 1817: the year they ate grass 0:25 A country that makes no sense 0:57 Selling soldiers to Europe 2:03 How Swiss neutrality began 3:09 Four lucky accidents 5:03 The law of silence 6:27 The bill arrives 7:44 Why Switzerland is still rich 8:44 The four pieces of a fortune SOURCES IMF and World Bank: GDP per person by country Swiss Federal Statistical Office: exports and apprenticeships Historical Dictionary of Switzerland (HLS): the 1816–1817 famine, Swiss mercenaries, Marignano 1515 Treaty of Paris, 20 November 1815: recognition of permanent Swiss neutrality Swiss Federal Banking Act of 1934 (Article 47, banking secrecy) US District Court, Holocaust Victim Assets Litigation: the 1998 settlement of 1.25 billion dollars US Department of Justice: UBS deferred prosecution agreement (2009) OECD: Automatic Exchange of Information between tax authorities (2018) FINMA and the Swiss National Bank: the takeover of Credit Suisse by UBS (2023) Subscribe for the next country:    / @fortuneofnations   We explain why countries get rich, why others collapse, and the map behind the money, with animated maps and real history. Subscribe so you don't miss the next one. #Switzerland #Economics #History