[FoRK] oil producers shun dollar

Russell Turpin < deafbox at hotmail.com > on > Fri Dec 15 10:52:16 PST 2006

>From http://www.economist.com/opinion/displaystory.cfm?story_id=E1_RPVPTSJ:
>The main reason for the dollar's strength has been the widespread belief
>that the American economy vastly outperformed the world's other
>rich-country economies in recent years. But the figures do not support
>the hype. Sure, America's GDP growth has been faster than Europe's, but
>that is mostly because its population has grown more quickly too. Dig
>deeper, and the difference shrinks. .. If the two are measured on a
>comparable basis, productivity growth over the past decade has been
>almost the same in the euro area as it has in America. ..

It seems naive to me to think that size doesn't matter. I'm not sure
the economists have thought through the aggregate effects of shrinking
population.

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