In 1500 Europe's future imperial powers controlled 10 % of the world's territories and generated just over 40 % of its wealth. By 1913, at the height of empire, the West controlled almost 60 % of the territories, which together generated almost 80 % of the wealth.
In Central Asia the most successful companies are sinecures of nepotism.
Insurance is banking's boring cousin: it lacks the glamour, the sky-high bonuses and the ever-present whiff of danger.
Fill up an SUV's fuel tank with ethanol and you have used enough maize to feed a person for a year.
Foundations were laid timber by timber, railway sleeper by railway sleeper.
Germany's hyperinflation in 1923 – it became cheaper to burn banknotes than to buy fuel.
Corruption is often blamed on plata o plomo – meaning silver or lead, bribes or threats.
Global business has been rocked by crises, from Enron to the financial meltdown. Harvard Business School (HBS), alas, played a role. Enron was stuffed with HBS old boys, from the chief executive, Jeff Skilling, downward. The school wrote a sheaf of laudatory case studies about the company. Many of the bankers who recently mugged the world's taxpayers were HBS men.
Hayward is in the meat grinder of public opprobrium along with Lloyd Blankfein, chief executive of Goldman Sachs, and Akio Toyoda, president of Toyota.
Contrary to popular belief, traffic in Atlanta is not always hellish. There are a good few days each year when it is merely purgatorial.
Consumer spending accounts for about 70 % of U.S. economic activity.
Sin taxes have a long history as a fiscal wheeze: Parliament first introduced levies on beer and meat in 1643 to finance its fight against the Crown. Levies on alcohol have persisted: tax is now around 53p on a pint of beer, £ 2.18 per bottle of wine and £ 8.54 on a bottle of whisky. Tobacco was originally taxed as an imported luxury; today, duty on cigarettes accounts for about three-quarters of the price of a packet of cigarettes. Laziness is a harder sin to target, but one weapon against it is fuel duty: 23 % of car journeys are of less than two miles, so walking or cycling are reasonable alternatives for at least some trips. Fuel taxes also target a greater ill – the exhaust fumes that contribute to global warming. Tax, including VAT, accounts for 63 % of the price of petrol.