The international economic development over the last century was characterised by various kinds of cycles. This article focusses on cyclical changes in the net barter terms of trade between primary products and manufactured goods. By comparing and contrasting the present circumstances with those...

In Happiness and the Human Development Index: The Paradox of Australia, Blanchflower and Oswald (2005) observe an apparent puzzle: they claim that Australia ranks highly in the Human Development Index (HDI), but relatively poorly in happiness. However, when we compare their happiness data with...