The WORLDS (1st, 2nd, 3rd, 4th??)
The update on the worldwide problems still says that - dollar is weak, recession is foreboding, economy is at its worst, oil price is skyrocketting, etc. All are affected...some words like "first world, second world countries or third world countries" are often mentioned. How is that? Is there a fourth world country?
I see the effect in terms of countries economic acceleration and not necessarily economic condition.
1st, 2nd, 3rd remain as is.
An analogy would be a student scoring 97/100 and then 98/100 in the next test. He is doing worse than a student who used to score 60/100 and now scores 65/100. Since his improvement is far less.
In simple words, 1st world countries are the ones where one has to think hard to find faults with basic ammenities and infrastructure.
2nd world are those where you right away know that the system is not appropriate and requires vast improvisation.
3rd world are countries where there is no scope envisaged for improvisation