The situation in Egypt is massively unclear and uncertain. Both presidential candidates have claimed victory, but most observers believe that Mohammed Morsi, the Muslim Brotherhood candidate won. We should get the official results on Thursday. Clearly, however, the race will be contested. Meanwhile, thousands have gathered in Tahrir Square to protest the military’s actions to assume political control and to dissolve the Parliament. Battlelines are being drawn between the secularists and the supporters of the Muslim Brotherhood, although it is unclear to what extent the Muslim Brotherhood wants to establish a theocratic state. One can only hope that the Egyptian people remain firm in their demands for an effective voice and that violence is kept at a lowest level possible given the uncertainty.
The U.N. Conference on Sustainable Development began on Monday with about 50,000 participants. It has been 20 years since the first meeting in Rio de Janeiro and, unlike the first meeting which was full of promise, this meeting is rife with pessimism. The current economic crisis has overwhelmed the willingness of many states to undertake commitments that could compromise economic growth in the short run. Most analysts expect little progress from the current meeting–a great tragedy.
Angus Maddisson is perhaps the world’s most influential economic historian–he is a true wizard when it comes to economic data. Here is his visual portrayal of global economic grwoth from the year 1 to the present.
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