This Country Went Bankrupt From a Stupid Concert and Other Really Bad Ideas

If it wasn’t for monumentally stupid decisions, Nauru would still be the world’s richest country

Spending millions of dollars on a gawky musical was just one of many outrageous expenses that bankrupted Nauru’s government (Images by Philip and Linda Naudus/Aditya Chinchure/Unsplash)

In 1982, Nauru’s annual GDP exceeded $27,000 per person. That’s 87% higher than the USA. But 35 years later, they were the second poorest country in the world.