New Data Shows Entire World Growing Wealthier

Which is cool

This month the most accurate source for global data on the size of the world's economies got a makeover. As a result, we have measures of economic growth and relative income across countries that are better than ever. These numbers suggest something surprising: a world of ubiquitously increasing wealth, where predictions of Malthusian traps and permanent poverty look increasingly archaic.

The Penn World Tables, created by Alan Heston, Robert Summers, and Bettina Aten at the University of Pennsylvania, were the first serious attempt to properly measure relative economic size around the planet. The researchers tracked the value of goods a country consumed, invested in, and traded using numbers that could be compared around the world and over decades.

Comments

[Emily Oliver]

Economic growth?? The economic crisis is here and it's making itself heard. Families have tons of problems making ends meet and the funds for public administration are withering away. Why don't our politicians try listening to what the specialists in the economic crisis have to say, like the Orlando Bisegna Index from New York, which not only measures the crisis but has also helped a lot of counties with debt problems, business closures, and unemployment, improving the economic situation of tons of families.