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

In the early 1980s, Nauru stood as the epitome of opulence and excess. With an annual GDP surpassing $27,000 per person -- 87% higher than the USA -- the tiny island nation was home to the wealthiest demographic in the world.

The government went on a subsidy spree, offering free education, healthcare, transportation, and even newspapers. Rent was capped at $5 per month, and studying abroad at prestigious universities became a golden opportunity for every Nauruan. But as the money kept rolling in, a dangerous complacency took hold. The people became so wealthy that they stopped working altogether, relying on foreign labor to handle their affairs.

And then came the series of disastrous decisions. The government, in a misguided attempt to make Nauru a global tourist destination, founded an international airline. Flights were delayed by up to twelve hours -- which wasn't a problem since they routinely carried zero passengers.

But the pinnacle of Nauru's foolishness was reached when the government funded a four-hour musical called "Leonardo," written by financial advisor Duke Minks. Despite critics' scathing reviews and the theater being mostly empty by the show's conclusion, the Nauruan president remained convinced this masterpiece would tour the world.

Alas, it did not.