image missing Date: 2021-10-17 Page is: DBtxt003.php L0900-MBF-World-GDP-1966-2006


MONEY, BANKING and FINANCE
WORLD GDP GROWTH
What this shows
 •   World GDP from 1966 to 2014.
 •   Canada and US (North American) GDP for the same period.
What this shows in addition
 •   In the 1970s the USA experienced 'stagflation', but the world total GDP grew after the oil price realignment of 1973.
 •   In the 1980s World GDP growth slowed first and then accelerated.
 •   In the 1990s World GDP grew, then slowed, then grew again.
 •   After 2000, World GDP grew rapidly until 2008 when the financial system crashed.
 •   After major bail-out of the international banking system, world GDP recovered and continued to grow.
Note: GDP is NOT a good economic metrics
 •   Important caveat: problems with GDP as a metric of economic performance have been highlighted since the 1960s.


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