“In 1991, the GDP of the world in dollars was $4,997. In 2000, it was $4,909…. the wealth-producing capacity of the world is no longer keeping up with its population growth, and the wealth-producing capacity of nearly a quarter of its people is literally marching backwards…. In the 90s per capita GDP in the countries in transition fell between 50% and 75% depending on the measure adopted, catapulting them into the ranks of the developing countries.” .”… Even in PPPs, poverty is clearly increasing in the modern world…. [Since 1970] “differential growth did not speed up the growth of the advanced countries relative to the rest of the world. It slowed down the growth of the rest of the world, relative to the advanced countries The present organisation of the world economy [is] acting systematically to undermine it. The US is growing at the expense of other advanced industrial nations…. up till 1980, US investment was financed from internal savings, which always exceeded investment. This reversed in 1980 and savings from then on fell behind investment. This was particularly marked in the 1990s expansion in which savings and investment moved in opposite directions.” *
The new world order and the failure of globalisation
Alan Freeman (2002): Unpublished.
The new political geography of poverty. University of Greenwich
[This is a fuller but earlier prepublication version of an analysis of stagnation and divergence in the world economy which appeared in Pettifor, A (2003) Real World Economic Outlook, pp152-159. Basingstoke: Palgrave MacMillan, pp152-164. ]