The Big Mac index
Global exchange rates, to go
THE Big Mac index was invented by The Economist in…Read More
Четыре всадника Апокалипсиса российской экономики
The Four Horsemen Of Russia’s Economic Apocalypse
IN MARCH 2013 a group of bankers and lawyers…Read More
В чём настоящее богатство народов?
The real wealth of Nations
A new report comes up with a better way to size up wealth
“WEALTH is not without its advantages,” John Kenneth Galbraith once wrote, “and the case to the contrary, although it has often been made, has never proved widely persuasive.” Despite the obvious advantages of wealth, nations do a poor job of keeping count of their own. They may boast about their abundant natural resources, their skilled workforce and their world-class infrastructure. But there is no widely recognised, monetary measure that sums up this stock of natural, human and physical assets.