In 1950, when the global economy was struggling to recover from World War II, Venezuela had a GDP per capita of 7’425 USD, making the oil-rich South American nation, the world’s fourth-wealthiest country, exceeded only by the United States, Switzerland and New Zealand. Venezuela’s per capita income then was nearly four times higher than Japan’s (1’873 USD ), almost 75% …
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In politics and economics, it may not all be smooth in Romania and there is a lot of room for improvements. However, Romania is a paradise compared to other countries in the world: Every year, the Cato Institute publishes a list of the world’s most ‘miserable countries’ by using a simple economic formula to calculate the scores. Described as a Misery Index, the tally for …
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30 to 45 USD – the new reality for oil This morning, after secret negotiations in Doha – the capital of Qatar – the four oil-producers Saudi Arabia, Qatar, Russia and Venezuela agreed to freeze their output at January levels. The common goal of this agreement is, of course, to tackle the oil price, who after 19 months of declines …
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