The Economist analyzed in a recent article which economies have fared best and worst during the global financial crisis. The article highlights that the real GDP is no longer the best measure for comparing output, because of demographic changes. Canada, like the United States, has a fast-growing population, whereas the number of Germans and Japanese has started to shrink (The Economist, 2011). The Economist considers the Real GDP per head to be a better measure in order to offer an accurate comparison among worldwide economies’ performance.
The evolution of human administration and knowledge from the hunter gatherers and band societies of 10,000 years ago to today’s interconnected human society is fascinating. One of the most important steps in modern human society progress was the uptake of the manned spaceflight.
A recent article published in “The Economist” outlines an interesting correlation between the wine and oil prices trends around the world for the period 1998-2010. The research undertaken by two experts from International Monetary Fund (IMF), Servan Cevik and Tahsin Saasi, shows that supply has only a marginal impact on prices.