2015 World Growth Statistics- The (not so) Great Recession leaves a scar

THE global financial crisis was a scarring experience for rich economies. A sharp short-term decline in GDP has given way to steady erosion in growth relative to pre-crisis hopes. Yet as a chapter in the International Monetary Fund’s new World Economic Outlook explains, the emerging world is also entering an age of diminished expectations. TheContinue reading “2015 World Growth Statistics- The (not so) Great Recession leaves a scar”

People are happier when they are young and rich

ONE frequent stumbling block for the European project is the fact that different countries want different things. Recent Eurostat polling on self-reported happiness highlights those divergences. As usual, Scandinavians are the happiest people in Europe and retired Danish women are the cheeriest among them, reporting a happiness score of 8.5 out of 10. In general,Continue reading “People are happier when they are young and rich”

World Social and Economic Trends 2015

A new report from the World Economic Forum ranks the 10 most important global trends, based on a poll of 1,592 leaders from academia, business, government, and non-profits. Here are some data points that compare and contrast the public’s views around the world with the trends identified by the experts. 1. Rising societal tensions in the MiddleContinue reading “World Social and Economic Trends 2015”

Who controls the world’s wealth?

GLOBAL wealth has increased from $117 trillion in 2000 to $262 trillion this year. That comes to $56,000 for each adult on earth. But the fortune is far from evenly distributed. In 1906 the Italian economist Vilfredo Pareto observed that 80% of land was owned by just 20% of the Italian population. Today 94.5% ofContinue reading “Who controls the world’s wealth?”

The World Economic Outlook for 2015 is Not Pretty

Back in January the IMF thought the world might manage growth of 3.7% this year. That dropped to 3.6% in April, to 3.4% in July, and to 3.3% in the new report. If growth is written down any more then this year’s performance will come in below that in 2013, of 3.3%, making 2014 theContinue reading “The World Economic Outlook for 2015 is Not Pretty”

Unemployment Drops as Labor Force Participation Drops- Unusual

AMERICA has experienced a puzzling decline in the share of people either working or looking for work. Historically the “labour-force participation rate” fell during recessions as some of the unemployed gave up looking for work, and rose amid recoveries as discouraged workers returned, according to an interesting article in the The Economist Since the heightContinue reading “Unemployment Drops as Labor Force Participation Drops- Unusual”