5 ECONOMIC Mistakes NEW PLAYERS Make in Victoria 3

Even though the interest is very low for Britain due to them being #1, I still don't go into debt simply because any interest paid is revenue thrown into the void.
I simply stop building once my reserves get low and get laissez-faire, the private sector can build while I rebuild my reserves.

Great video. Thanks for your work

"Overvaluing Positive Balance" is exactly what my real life government is doing

I'm not sure I understand the example - You want Groceries to be as expensive as possible in order to sell at a higher price to other nations, but selling a good that's expensive on your market is always marked as a loss for me when in the trade menu, whereas goods that are selling at low prices typically show greater profit when trading. It lowers the price in the target market, and further increases the price in your own market. Are you not just trading losing revenue for putting it into the investment pool? What am I missing here?

Love your vids, really help but have to listen at .75 speed and really wish there was a vic3 for dummies

For the algorithm lol

thank you! this was a genuinely useful video. a lot of these "hidden" mechanics make sense when you explained them in detail with examples and having them explained helped with a general understanding of a game

what is going on with that map. why has eastern europe mingsploded?

Not sure about having high prices for consumer goods. They are not supposed to be expensive so your low class pops can buy them. But obviously not too cheap so they are still profitable. Expensive staples cause radicalism. Luxury is what you want to be expensive so you can recirculate the wealth that capitalists have better.

Thank you good video have a nice day

Too much construction is not a good thing. You want the "right" amount for the size of your economy.

Only the taxes that are reinvested in non-productive items, e.g. military, decrease the economy. Taxes that are reinvested in government wages inject money back into the economy. So in the end taxes are not 100% a drain on the economy.

This game is brilliant it hurts to see people talk shit about it

the fuck? it's a sausage?? i thought the groceries icon was a donut, LOL!

Hoi4 build more better take land go brrr ck3 Change colours make children Victoria university level socioeconomic system and learning 101

I think there are some good "rules of thumb" here, but like with everything, there are exceptions and more variables that can change how you approach things. For example, I love exporting grain.

Building grain farms and keeping them profitable is a great way to establish a baseline for the poor to start getting their standard of living up. And while this creates market conditions that might encourage more aristocrats, it also creates more shopkeepers and/or capitalists. Partially because having more farms means more industry to support farms [tools/steel/fertilizer/iron/coal/sulfur], and partially because the trade center is going to employ capitalist or shopkeeper pops, depending on your trade law.

I'm not sure if this was the case at the time this video came out, but the fact land reform and the option to implement homesteading has made expanding farms even more favorable to me. By implementing homesteading and giving 50% ownership of farms to farmers, you can establish a middle class decades before you can implement policies like minimum wage, graduated taxation, or cooperative ownership. Not to mention that I find the rural folk are a usual faction in lots of situations. They are a great alternative to landowners if I'm trying to maintain a more conservative playthrough, or they can spawn in anarchists if I want to go socialist.

TL:DR; Building farms is great. They are cheap to build, greatly contribute to standard of living, and with the addition of homesteading they are the fast track to establishing a middle class which can buy all your other products. Don't be afraid of a few extra aristocrats, the industry and trade facilitated around them will render them obsolete regardless.

this man took economics 101

Victoria 3 players brain: 🧠🧠

I'm still a little confused - I understand that you don't want to be hoarding gold all the time, but when I maintain a negative balance for a while I generally end up swimming in debt and defaulting. Is there some quick, reliable way to get back to a positive balance after being in the red for a while?

Also, giving the capitalists a lot of money might be good for the economy, but doesn't it also give them a lot of political power too? What if you want to do reforms and stuff that the capitalists would be against?

First economic mistake - buying this garbage of a game

What map mod is that?

Hi big boy love the videos,one thing i wanna ask,my private construction, is building everything, mostly not what I need in the market,is there anyways I can deal with this? They too rich , they just built 50+ power plant....🥲

The biggest economic mistake I made with Victoria 3 was buying it.

Damn y'all hitting over 1 billion GDP regularly

question, on super endgame, when i have 10k construction(amount i find that doesnt make game too slow, and still will be better than ai by a ton) im getting all my goods super cheap, because im just trying to keep con filled, its inevitiable that everything becomes super cheap. is there any specific trinity of items i should keep at high cost by microing the states with them to not produce the luxury item, in order to increase cost?

do i need to focus more on increasing population, so that i have enough consumers?

also, how do i keep up with oil demand? i feel like i conquer all oil places including whaling stations but still end up with not enough, i end up switching back to condensing pumps to save oil. i havent changed plastics because that production too much glass to oil imo, like it barely uses any even on several hundred glassworks, only 5/1 i believe which is nothing compared to the 186k demand lol

Are you in a jail cell?

Which states should I incorporate, and which should I not?

do you have guides that work for unreconized? cause most guides i see tell me to play them like the gps when it comes to construction which is just unaffordable.

Great video, very clear and informative!

I still don't understand why you want to have goods not be cheap. Cheap essential goods = better SOL?

one way i like to decide what to build is to look at the buildings tab and look what buildings make the most money

Thanks for this video, it is very useful!

Regarding the use of taxes and consumption taxes in order to stimulate economic growth, at what point is this no longer viable? When do the benefits of a more happy population outweigh the negatives of not being able to build as much?

One good video you could make, should it be relevant, is how unprofitable but preferred trades affect the Trade Center buildings. With Free Trade, this building is capitalist owned. Where would the threshold be for profitable/beneficial goods owned by Aristocrats?

The question I want to see covered is when it is best to focus on centralizing buildings that the ai has sprayed all over the place? I find myself being restricted by the ai using up all my workforce.

Me being a command economy enjoyer: None of this applies to me B)

Can you make a guide for ottomans in new government system because its got 5x more harder to reform sick man,

I still think the money is better off with the state. I would even like it if the investment fund only paid directly to the state. oh yes there is. planned economy. but then the entire upper class is missing. and in the game it's programmed in such a way that demand increases exponentially with prosperity. therefore only capitalists can generate the high demand needed for growth/demand. so the more capitalists the better! no question.

Could you update your multiculturalism video? It seems almost impossible to pass it now. None of my interest groups support it

Can we print money in this game ?

Thank you for the guide. Are you planning (or do you have) any tips for superweak powers start? I.e. >100 place on the start of the game

If you increase the profitability of tool workshops by raising tool prices, other buildings that use tools will be less profitable. This is a zero-sum game, and you are basically moving profits from one factory to another. Clothes and other finished consumer goods are better examples because you transfer money into the investment pool from pops. It's still not perfect, because the more your pops spend on clothes, the less they can spend in other buildings, making them less profitable. But in this case, at least you are transferring profits from mixed buildings to buildings owned exclusively by capitalists.

I just hope that Paradox Devs make more best DLC's for Victoria 3!

"Chasing some tail in the Spanish Market"

Great guides, they really helped me understand game mechanics.

Corrections: I DEFINITELY should have mentioned that Laissez-Faire is waaaay better than Interventionism. (Edit: the mild level but high volume of pushback I got on this in the first 8 hrs seems to indicate that maybe I should make a video on this)

Minting also does not extract money from the economy.

I'm an old player, does that mean I can make these mistakes?