Why is the world so much obsessed with per capita GDP?
Its gives us an illusion that population is the limiting factor for every nation. However we very well know that in most countries 5-7% unemployment is considered healthy. Also if you are as rich as USA/Western Europe then one of the major concern of the country is to limit the population influx and keeping illegal immigrants under check. So essentially a country can always increase its workforce.
So what is the most limited of all resources… LAND.
In the paper Geography and Economic development the authors John Gallup, Jeffrey Sachs and Andrew Mellinger plotted the GDP per unit land all over the world.
Notice how prominent are the rivers like the Ganges and the Grand canal in China in this plot. The plot reinforces our conviction that most wealthy cities are ports which are close to the sea/inland waterways and hence the wealth of the nation is a function of the connectivity and influx of man and goods.
What i could not stop wondering is that how close this graph is to the night sky of the Planet Earth. So its like the Big Mac Index. The economist can spend a year collecting data and crunching it, or just take a picture and get a fairly accurate answer. After all the more prosperous you are, the more outdoor lighting you need.
Watch this wonderful video.
How is an investment banker different from a pigeon?
A pigeon can still leave a deposit on a new Ferrari!
Two Wall Street traders were bemoaning the recent stock market gyrations. “This is worse than a divorce!” said one.
“How’s that?” asked the other.
The first grimaced, “I’ve lost half my net worth but I’ve still got the same wife!”
Why do women clean the room?
Is it because of some primal instinct to mark one’s territory? Dogs have strong olifactory senses, Hence they piss all over their territory, maybe females use cleaniness in the same way. Don’t beleive me? Look at this room
I have known this guy for 8 years now and there is no way in hell a guy’s room can look even remotely like that. So it did not take me long to realize that his wife had paid him a visit for the festivities.
It is interesting that among all the countries in the world, we are the only country where the government is repeatedly saying that nothing is wrong and everything is all right. At the seminar, the comments in the lobby were that if all is well, why are our markets down by more than 60% while the others are down only by about 35%? Why are our external commercial borrowing rates so much worse than those of our Asian neighbours, and why is credit for exports not available?
This line by Mint exactly summarize what i think about all the statements made by the lap