Frank & Bernanke. Ch. 8: Economic Growth, Productivity, and Living Standards. Source: http://www.economist.com/displayStory.cfm?story\_id=346598. Source: http://hdr.undp.org/reports/global/2002/en/indicator/indicator.cfm?File=indic\_290\_1\_1.html. http://hdr.undp.org/statistics/highlights/.
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Ch. 8: Economic Growth, Productivity, and Living Standards
FIRST published in 1864, with figures stretching back to 1845, The Economist's commodity-price index is probably the world's oldest regularly published price index. Since October 2001, our dollar-based industrials index has risen by 76%, fuelled by Chinese demand for raw materials and, in part, the weakness of the dollar. Yet in real terms, industrial commodity prices are a mere 30% of their value in 1845