British and French economists began to estimate the total income earned in their economies in the late 16th and early 17th centuries, primarily to help their sovereigns find better ways to raise tax revenue. But proper estimates were not regularly produced until the early 20th century, when modern statistical techniques and the demands of total war encouraged governments to take a greater interest in national accounting. In most rich economies annual estimates are available from the 1930s, thanks to the travails of the Depression. Simon Kuznets, a Russian emigrant to America, is credited with creating the first true GDP estimate, for delivery to America’s Congress in 1934. 

Posted
AuthorKurt Lefever

FLAPPY BIRD is a wildly popular game played on smartphones. As well as being compulsively playableit is also frustratingly difficult: the bird has a habit of dying at the slightest slip of the index finger. To cap it all, this month its Vietnamese creator, Nguyen Ha Dong, suddenly withdrew the game from download sites such as Google Play and Apple’s App Store. 

Posted
AuthorJ. Buske