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Growth and Decline of the Economies of Europe and the US Published by Bhaskar Sarkar, at Smashwords Cover art: Sarita Sharma Discover other titles by Bhaskar Sarkar at Smashwords.com Author Profile: http://www.smashwords.com/profile/view/Bhaskarsarkar1940 Copyright Author Bhaskar Sarkar 2012 Smashwords Edition License Notes This e-book is licensed for your personal enjoyment only. This e-book may not be re-sold or given away to other people. If you would like to share this book with another person, Please purchase an additional copy for each recipient. If you’re reading this book and did not purchase it, or it was not purchased for your use only, then please return to Smashwords.com and purchase your own copy. Thank you for respecting the hard work of this author. Dedication This book is dedicated to students and teachers of economics in the developed world. May God give them the wisdom to find an alternative to neo-liberal capitalism and save the world Contents Prologue Chapter 1: Economy and Wealth of Nations Chapter 2: Economic Growth and Decline of Europe Chapter 3: Economic Growth and Decline of United States Chapter 4: Impoverishing Nations Chapter 5: Impoverishing the People Chapter 6: Bonanza for the Rich Chapter 7: Causes for the Decline Chapter 8: Strategy for the Future Epilogue Bibliography About The Author Prologue “ You don’t need an economist or the Federal Reserve to tell the American people that the economy is in trouble because they have been experiencing it for years now We have to stop giving tax breaks to companies that are shipping jobs overseas and invest those tax breaks in companies that are investing in the US,”- Barack Obama, American Democrat President in waiting at a debate at University of Texas, Austin on Thursday 21 February 2008. About four years have passed since Barack Obama became the President of United States. But the world economic situation is still grim. The decline in the economies of the United States and much of Europe is not a figment of the imagination of the Author. Government debts are soaring. GDP growth is stagnating. Unemployment is stubbornly refusing to comedown. Poverty and inequality levels are rising. Goldman Sachs is now predicting that the largest developing economies namely Brazil, Russia, India and China also known as the BRIC will overtake G7, the seven largest economies of the developed world, in size of their economy. (Briefings; Time Magazine April 4, 2011). Fareed Zakaria, the well known author, TV anchor and correspondent has written the book, “The Post-American World”. On September 15, 2008, ahead of the collapse of the over 150 year old investment bank, Lehman Brothers, Alan Greenspan, the head of the Federal Reserve admitted that the US economy was facing its worst crisis in a century. A 2008 report by the Federal Reserve showed that household net wealth in the United States fell for the first time in five years in the fourth quarter of 2007, dropping $532.9 billion or 3.6 percent,. The collapse of real estate prices accounted for a third of the decline, while the decline in value of financial assets like stocks, bonds and mutual fund investments accounted for nearly half. By October 2008, with the stock market loosing 20% in one week, with stock prices hovering at about half their 2007 peaks, after 23 banks and The Diversity of Countries and Economies across the World The Diversity of Countries and Economies across the World By: OpenStaxCollege The national economies that make up the global economy are remarkably diverse Let us use one key indicator of the standard of living, GDP per capita, to quantify this diversity You will quickly see that quantifying this diversity is fraught with challenges and limitations As explained in The Macroeconomic Perspective, we must consider using purchasing power parity or “international dollars” to convert average incomes into comparable units Purchasing power parity, as formally defined in Exchange Rates and International Capital Flows, takes into account the fact that prices of the same good are different across countries The Macroeconomic Perspective explained how to measure GDP, the challenges of using GDP to compare standards of living, and the difficulty of confusing economic size with distribution In China’s case, for example, China ranks as the third largest global economy along with Japan and the United States But, when we take its GDP of $4,522,140,211,438 and divide it by its population of 1,350,695,000 people, then the per capita GDP is only $3,348, which is significantly lower than that of Japan, at $36,938, and that of the United States, at $43,063 Measurement issues aside, it’s worth repeating that the goal, then, is to not only increase GDP, but to strive toward increased GDP per capita to increase overall standards of living for individuals As we have learned from Economic Growth, this can be achieved at the national level by designing policies that increase worker productivity, deepen capital, and advance technology GDP per capita also allows us to rank countries into high-, middle-, or low-income groups Low-income countries are those with $1,025 per capita GDP per year; middleincome countries have a per capita GDP between $1,025 and $12,475; while highincome countries have over $12,475 per year per capita income As seen in [link] and [link], high-income countries earn 68% of world income, but represent just 12% of the global population Low-income countries earn 1% of total world income, but represent 18.5% of global population 1/8 The Diversity of Countries and Economies across the World World Income versus Global Population(Source:http://databank.worldbank.org/data/ views/reports/tableview.aspx?isshared=true&ispopular=series&pid=20) Ranking based on GDP/capita GDP (in millions) Low income ($1,025 or $501,001 less) % of Global GDP Population 0.7% 1,302,107,523 18.5% % of Global Population Middle income ($1,025 $22,353,932 31.1% - $12,475) 4,897,806,355 69.5% High income (more than $12,475) $49,112,539 68.3% 846,454,901 World Total income $71,918,394 7,046,368,779 12.0% Percent of Global GDP and Percent of Population The pie charts show the GDP (from 2011) for countries categorized into low, middle, or high income Low-income are those earning less than $1,025 (less than 1% of global income) They represent 18.5% of the world population Middle-income countries are those with per capita income of $1,025–$12,475 (31.1% of global income) They represent 69.5% of world population High-income countries have 68.3% of global income and 12% of the world’s population (Source: http://databank.worldbank.org/data/views/reports/ tableview.aspx?isshared=true&ispopular=series&pid=20) 2/8 The Diversity of Countries and Economies across the World An overview of the regional averages of GDP per person for developing countries, measured in comparable international dollars as well as population in 2008 ([link]), shows that the differences across these regions are stark As [link] shows, nominal GDP per capita in 2012 for the 581.4 million people living in Latin America and the Caribbean region was $9,190, which far exceeds that of South Asia and sub-Saharan Africa In turn, people in the high-income nations of the world, such as those who live in the European Union nations or North America, have a per capita GDP three to four times that of the people of Latin America To put things in perspective, North America and the European Union have slightly more than 9% of the world’s population, but they produce and consume close to 70% of the world’s GDP GDP Per Capita in U.S Dollars (2008) There is a clear imbalance in the GDP across the world North America, Australia, and Western Europe have the highest GDPs while large areas of the world have dramatically lower GDPs (Credit: modification of work by Bsrboy/Wikimedia Commons) Regional Comparisons of Nominal GDP per Capita and Population in 2012(Source: http://databank.worldbank.org/data/home.aspx) Population (in millions) GDP Per Capita East Asia 1,992 $5,246 South Asia 1,649 $1,388 Sub-Saharan Africa 910 $1,415 Latin America 581 $9,190 3/8 The Diversity of Countries and Economies across the World Population (in millions) GDP Per Capita Middle East and North Africa 340 $4,535 Europe and Central Asia $6,847 272 Such comparisons between regions ...Under Ground Baskin 9 ISBN 1-59726-118-1 781597 261180 90000 SCIENCE /ENVIRONMENT Praise for Under Ground “With fabulous prose, Yvonne Baskin takes us through an ecological looking glass to the wonderland of underground . . . required reading (for all) made delightful.” —Thomas E. Lovejoy, President, H. John Heinz III Center for Science, Economics, and the Environment “Nematodes, slime molds and fungi are unexpectedly fascinating in this enjoyable tour of a new ecological frontier.” —Publishers Weekly “At last, proper attention is given to the vast biomass and biodiversity at our feet, humanity’s absolute dependence upon this layer of life, and the need to expand science and conservation to save it. This is a well-written and important book.” —E.O. Wilson, University Research Professor Emeritus, Harvard University “An excellent book . . . opens up the black box of soil to reveal the wonders of its workings.” —TRENDS in Ecology and Evolution “Engaging . . . rich and descriptive . . . Baskin’s book successfully gives a face to the rapidly changing field of soil ecology.” —BioScience “Under Ground will be both fascinating for laypersons and extremely useful for scientists like myself who understand how critical the soil is but know too little about it.” —Paul R. Ehrlich, Bing Professor of Population Studies, Stanford University and co-author of One with Nineveh: Politics, Consumption, and the Human Future YVONNE BASKIN is the author of The Work of Nature: How the Diversity of Life Sustains Us and A Plague of Rats and Rubbervines: The Growing Threat of Species Invasions. Her arti- cles have appeared in Science, Natural History, Discover, and numerous other publications. Jacket design by Brian C. Barth Jacket photos: Acoptolabrus gehinii nishijimai (Imura, 1991), photo by Roman Rejzek; 200 species of mites, photo by Valerie Behan-Pelletier, Agriculture and Agri-Food Canada. Interior Illustrations by Joyce Powzyk a shearwater book ip.baskin.000-000 4/15/05 9:01 AM Page i ip.baskin.000-000 4/15/05 9:01 AM Page ii Under Ground ip.baskin.000-000 4/15/05 9:01 AM Page iii ip.baskin.000-000 4/15/05 9:01 AM Page iv Under Ground How Creatures of Mud and Dirt Shape Our World Island Press shearwater books washington • covelo • london A Project of SCOPE, the Scientific Committee on Problems of the Environment Yvonne Baskin ip.baskin.000-000 4/15/05 9:01 AM Page v A Shearwater Book Published by Island Press Copyright © 2005 The Scientific Committee on Problems of the Environment (SCOPE) All rights reserved under International and Pan-American Copyright Conventions. No part of this book may be reproduced in any form or by any means without permission in writing from the publisher: Island Press, 1718 Connecticut Ave., NW, Suite 300, Washington, DC 20009. Shearwater Books is a trademark of The Center for Resource Economics. Library of Congress Cataloging-in-Publication data. Baskin, Yvonne. Under ground : how creatures of mud and dirt shape our world / Yvonne Baskin. p. cm. Includes bibliographical references and index. ISBN 1-59726-003-7 (cloth : alk. paper) 1. Soil animals. 2. Burrowing animals. I. Title. QL110.B35 2005 591.75′7—dc22 2004030330 British Cataloguing-in-Publication data available. Printed on recycled, acid-free paper Design by McKnight Design, LLC Manufactured in the United States of America 10987654321 ip.baskin.000-000 4/15/05 9:01 AM Page vi Introduction: Opening the Black Box 1 Where Nematodes Are Lions 14 Of Ferns, Bears, and Slime Molds 38 The Power of J. FOR. SCI., 56, 2010 (6): 285–293 285 JOURNAL OF FOREST SCIENCE, 56, 2010 (6): 285–293 e broadleaf-conifer mixed forest occurs in the cooler region of the eastern Eurasian continent, extending across the coastal areas of eastern Rus- sia, the Korean Peninsula, and the eastern portion of northeastern China (N, I 1995). Changbai Mountain, the core area of this vegetation zone, is covered with a large area of broadleaved–Ko- rean pine (Pinus koraiensis) mixed forest (S et al. 2003). is is a typical vegetation type in the eastern Eurasian Continent, and it has provided large amounts of timber and is well-known for high species richness and distinctive species composition in temperate forests (Y, X 2003; S 2006). Forest harvesting in Changbai Mountain region began in the 1950s when state-owned forestry bu- reaus were established. Prior to the 1980s, clearcut- ting was the primary method for timber harvesting in the region, since then selective logging methods have been widely used. Due to nearly half a century extensive harvesting in the region, large areas of pri- mary forests have been degraded, timber resources are declining and the age structure of the remaining Supported by the National Natural Science Foundation of China, Projects No. 40873067 and 30800139 and 40601102, the National Key Technologies R&D Program of China, Project No. 2006BAD03A09 and the National Forestry Public Welfare Program of China No. 201104070. Short Communication Differences in the structure, species composition and diversity of primary and harvested forests on Changbai Mountain, Northeast China DONGKAI SU 1, 2 , DAPAO YU 1 , LI ZHOU 1 , XIAOKUI XIE 1 , ZHENGGANG LIU 1 , LIMIN DAI 1 1 Chinese Academy of Sciences, Institute of Applied Ecology, Shenyang, China 2 Limited Liability Company, Jilin Forest Industry Group, Changchun, China ABSTRACT: Broadleaved-Korean pine (Pinus koraiensis) mixed forest is a typical vegetation type in the eastern Eurasian continent. We compared the structure, composition and diversity of a primary forest and a logged forest for effective management and regeneration of a mixed forest ecosystem on Changbai Mountain, Northeast China. e logged for- est was subjected to selective harvesting twenty years ago. e mean diameter and basal area for overall trees (≥ 2 cm dbh) were higher in the primary forest than in the logged forest, whereas overall tree density was significantly lower in the former (994 ± 34 treesha –1 ) than in the logged forest (1921 ± 79 treesha –1 ). e values of species richness and both Simpson’s and Shannon’s diversity indices for seedlings (< 2 cm dbh, ≥ 50 cm tall), saplings (2−9.9 cm dbh) and overall trees were greater in the primary forest. ese results indicate that the selective logging had a lasting impact on the structural characteristics of the forest. ere were major differences in species composition between the two forest sites, with the logged forest having more pioneer and mid-tolerant species than the primary forest. Diversity was more extensive in the logged forest due to the invasion of pioneer species. Twenty years is clearly an insufficient time for the logged forest to regain “primary” forest composition and structure. ese two characteristics of the primary forest may serve as a reference for developing management plans for forest regeneration. Keywords: broadleaved-Korean pine mixed forest; forest structure; species composition; species diversity 286 J. FOR. SCI., 56, 2010 (6): 285–293 forests has become unsuitable for sustainable for- estry (S et al. 2001; Z, S 2002). In 1998, the Chinese government established the Natural Fo- rest Protection Program (NFPP), the major purposes of which are to protect existing natural forests from excessive logging and to restore degraded forests (Z et al. 2000). While several studies on ve- getation and flora have been conducted on Changbai Mountain (e.g. L 1997; S List of countries and capital cities around the world in English Countries and capital cities from around the world A list of some countries and cities from around the world. The list shows the country first with the capital city last. United Kingdom - London List of countries and capital cities in English Afghanistan - Kabul Albania - Tirane Algeria - Algiers Andorra - Andorra la Vella Angola - Luanda Antigua and Barbuda - Saint John's Argentina - Buenos Aires Armenia - Yerevan Australia - Canberra Austria - Vienna Azerbaijan - Baku Bahrain - Manama Bangladesh - Dhaka Barbados - Bridgetown Belarus - Minsk Belgium - Brussels Belize - Belmopan Benin - Porto-Novo Bhutan - Thimphu Bolivia - La Paz Bosnia and Herzegovina - Sarajevo Botswana - Gaborone Brazil - Brasilia Brunei - Bandar Seri Begawan Bulgaria - Sofia Burkina Faso - Ouagadougou Burma - Rangoon Burundi - Bujumbura Cambodia - Phnom Penh Cameroon - Yaounde Canada - Ottawa Cape Verde - Praia Central African Republic - Bangui Chad - N'Djamena Chile - Santiago China - Beijing Colombia - Bogota Comoros - Moroni Costa Rica - San Jose Cote d'Ivoire - Yamoussoukro Croatia - Zagreb Cuba - Havana Cyprus - Nicosia Czech Republic - Prague Democratic Republic of the Congo - Kinshasa Denmark - Copenhagen Djibouti - Djibouti Dominica - Roseau Dominican Republic - Santo Domingo East Timor - Dili Ecuador - Quito Egypt - Cairo El Salvador - San Salvador Equatorial Guinea - Malabo Eritrea - Asmara Estonia - Tallinn Ethiopia - Addis Ababa Federated States of Micronesia - Palikir Fiji - Suva Finland - Helsinki France - Paris Gabon - Libreville Georgia - Tbilisi Germany - Berlin Ghana - Accra Liechtenstein - Vaduz Lithuania - Vilnius Luxembourg - Luxembourg Macedonia - Skopje Madagascar - Antananarivo Malawi - Lilongwe Malaysia - Kuala Lumpur Maldives - Male Mali - Bamako Malta - Valletta Marshall Islands - Majuro Mauritania - Nouakchott Mauritius - Port Louis Mexico - Mexico City Moldova - Chisinau Monaco - Monaco Mongolia - Ulaanbaatar Morocco - Rabat Mozambique - Maputo Namibia - Windhoek Nauru - Yaren District Nepal - Kathmandu Netherlands - Amsterdam New Zealand - Wellington Nicaragua - Managua Niger - Niamey Nigeria - Abuja North Korea - Pyongyang Norway - Oslo Oman - Muscat Pakistan - Islamabad Palau - Koror Panama - Panama City Papua New Guinea - Port Moresby Paraguay - Asuncion Peru - Lima Philippines - Manila Poland - Warsaw Portugal - Lisbon Qatar - Doha Republic of the Congo - Brazzaville Romania - Bucharest Russia - Moscow Rwanda - Kigali Saint Kitts and Nevis - Basseterre Saint Lucia - Castries Saint Vincent and the Grenadines - Kingstown Samoa - Apia San Marino - San Marino Sao Tome and Principe - Sao Tome Saudi Arabia - Riyadh Senegal - Dakar Serbia and Montenegro - Belgrade Seychelles - Victoria Sierra Leone - Freetown Singapore - Singapore Slovakia - Bratislava Slovenia - Ljubljana Solomon Islands - Honiara Somalia - Mogadishu South Africa - Pretoria South Korea - Seoul Spain - Madrid Sri Lanka - Colombo Sudan - Khartoum Greece - Athens Grenada - Saint George's Guatemala - Guatemala City Guinea - Conakry Guinea-Bissau - Bissau Guyana - Georgetown Haiti - Port-au-Prince Honduras - Tegucigalpa Hungary - Budapest Iceland - Reykjavik India - New Delhi Indonesia - Jakarta Iran - Tehran Iraq - Baghdad Ireland - Dublin Israel - Jerusalem Italy - Rome Jamaica - Kingston Japan - Tokyo Jordan - Amman Kazakhstan - Astana Kenya - Nairobi Kiribati - Tarawa Kuwait - Kuwait City Kyrgyzstan - Bishtek Laos - Vientiane Latvia - Riga Lebanon - Beirut Lesotho - Maseru Liberia - Monrovia Libya - Tripoli Suriname - Paramaribo Swaziland - Mbabana Sweden - Stockholm Switzerland - Bern Syria - Damascus Taiwan - Taipei Tajikistan - Dushanbe Tanzania - Dar es Salaam Thailand - Bangkok The Bahamas - Nassau The Gambia - Banjul Togo - Lome ADDIS ABABA UNIVERSITY SCHOOL OF GRADUATE STUDIES Genetic diversity of Rhizobia and Rhizobacteria from Soybean [Glycine max (L) Merr.]: Implication for the Commercial Production and Application to Enhance Soybean Production under Low Input Agriculture in Ethiopia By Diriba Temesgen Dagaga A Thesis Presented to the School of Graduate Studies of the Addis Ababa University in Partial Fulfillment of the Requirements for the PhD Degree in Biology (Applied Microbiology) June 2017 Addis Ababa, Ethiopia ADDIS ABABA UNIVERSITY SCHOOL OF GRADUATE STUDIES Genetic diversity of Rhizobia and Rhizobacteria from Soybean [Glycine max (L) Merr.]: Implication for the Commercial Production and Application to Enhance Soybean Production under Low Input Agriculture in Ethiopia By Diriba Temesgen Dagaga A Thesis Presented to the School of Graduate Studies of the Addis Ababa University in Partial Fulfillment of the Requirements for the PhD Degree in Biology (Applied Microbiology) Principal Supervisor: Dr Fassil Assefa Co-supervisors: Prof James, E.K., Dr Maluk, M., Dr Iannetta P.P.M June 2017 Addis Ababa, Ethiopia Dedication This work is dedicated to my beloved late father, Temesgen Dagaga, and my beloved mother, Debritu Zegeye, who took me to school and continuously encouraged me to become self confident student when I was not much aware of the value of education I Declaration I declare that the thesis hereby submitted by me for the Degree Doctor of Philosophy (PhD) in Biology (Applied Microbiology) to the School of Graduate Studies of Addis Ababa University is my own independent work and has not previously been submitted by me or anybody else where Any material obtained from other sources is duly acknowledged in the thesis Signed on May 10, 2017, the School of Graduate Studies, Faculty of Life Sciences, Addis Ababa University PhD Candidate Diriba Temesgen II Acknowledgements I would like to express my gratitude and appreciation first to my advisor, Dr Fassil Assefa for his unreserved guidance, help, supervision and constructive comments from the identification of the problem of the study to the completion of the work expending his valuable time and energy even on holidays He also let me use his own car for part of the work and contacted his friends and other institutes to support the study He treated me friendly and shared with me a lot of his rich research and professional experiences that can contribute a lot to my future career His critical comments in writing up the paper have really increased my efficiency and confidence I would like acknowledge Mada Walabu University for sponsoring me I also acknowledge the Department of Microbial, Cellular and Molecular Biology and the School of Graduate Studies of Addis Ababa University for funding the study and/or cooperations when requested at different phases of the study I would also ... What is the primary way in which economists measure standards of living? What are some of the other ways of comparing the standard of living in countries around the world? What are the four other... 5/8 The Diversity of Countries and Economies across the World Self-Check Questions Using the data provided in [link], rank the seven regions of the world according to GDP and then according to... on the standard of living of the young and the old Differences in Industry Structure and Economic Institutions Countries have differences in industry structure In the high-income economies of the