Word: gdp
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Enacting policies of accessible property rights—to be based in the extralegal laws of organic communities—would have incredible global implications. The valuation of worldwide underground assets at $9 trillion nearly equals America’s $10 trillion Gross Domestic Product (GDP). De Soto writes that the value is nearly that of “all the companies listed on the main stock exchanges of the world’s twenty most developed countries: New York, Tokyo, London, Frankfurt, Toronto, Paris, Milan, the NASDAQ, and a dozen others...
Bringing these assets into the formal sector would also automatically multiply both recorded GDP and tax revenues. In developing nations, the informal assets of the poor dwarf the valuations of domestic stock exchanges, government assets, and foreign direct investment by large multiples. Turning these assets into capital would unleash new potential for surging exponential growth...
...Bile Size matters, Brits crowed, when the U.K. overtook France in 1999 to become the world's fourth-biggest economy. But with the British pound down nearly 5% against the euro since January, and the U.K.'s ?1 trillion gross domestic product falling in value against France's GDP as a result, the French may soon be able to claim it was a grande illusion. If the pound falls less than 1% more, to 0.68 to the euro, France will again take the lead. To which Brits will surely reply, "It's really growth that counts...
...Leme also worry that Meirelles, despite the rate hikes, isn't taking the perennial Brazilian threat of inflation seriously enough. But Meirelles argues that "we're not in recession, growth should be above 2% this year and we've lowered the current account deficit from 4.6% to 1.7% of GDP. We can handle the shocks." At the Davos Forum in January, Meirelles, a dancing enthusiast, slipped on the ice and broke his ankle. He can't samba this week - but if that's the only setback the government has suffered so far, Lula might be able to enjoy his Carnival...
Zimbabwe’s current squalor is perplexing given its favorable history. With a flourishing economy under British rule and continuing prosperity early in its independence, Zimbabwe’s GDP growth exceeded 20 percent in 1980. Zimbabwe never endured Mozambique’s harsh Communist rule, decades of war or such devastating floods. Its circumstances, infrastructure and vast resources should seemingly facilitate continued growth...