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closely with that of the US. The same is true of the many smaller countries around Germany, not only does this include euro users such as Austria, Finland, the Netherlands and Belgium, it also includes others such as the Czech Republic, Denmark, Sweden and the Baltic states. Together, these countries f
tment booms and financial crises initiated by capital investment typically from London or New York; a process documented beautifully by Reinhart and Rogoff in 'This Time is Different' [Reinhart & Rogoff 2009]. One aside with regard to the use of the word capital, which in international economics is use
| | | | | $0 Korea Japan Greece UK lreland Belgium Turkey Czech Republic Mexico Poland Hungary Slovak Republic Portugal New Zealand OECD average Finland Iceland Sweden Australia Denmark Netherlands Germany France Austria Canada Switzerland Norway Luxembourg Note: OECD data adjusted for Purchasing Pow
cent of GDP. Above 90 percent, median growth rates fall by one percent, and average growth falls considerably more. We note that while Reinhart and Rogoff’s observations are based on ‘gross debt’ data, in the U.S., debt held by the public is closer to the European KP countries’ definition of government
in Mathematics / Science Have Fallen vs. Other OECD Countries Mathematics Ranking* Science Ranking* 2000 2009 2000 2009 i Japan S. Korea 1 Korea Finland 2 S. Korea Finland 2 Japan Japan 3 New Zealand Switzerland 3 Finland S. Korea 4 Finland Japan 4 UK New Zealand 5 Australia Canada 5 Canada Canada 6 C
cent of GDP. Above 90 percent, median growth rates fall by one percent, and average growth falls considerably more. . We note that while Reinhart and Rogoff's observations are based on ‘gross debt’ data, in the U.S., debt held by the public is closer to the European countries’ definition of government gr
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