Real wages are wages adjusted for inflation, or, wages in terms of the amount of goods and services that can be bought. This term is used in contrast to unadjusted wages; because it has been adjusted to account for changes in the prices of goods and services, real wages provide a clearer representation of an individual's wages in terms of what they can afford to buy with those wages – in terms of the amount of goods and services that can be bought. However, real wages suffer the disadvantage of not being well defined, since the amount of inflation is itself not well defined. Hence real wage defined as the total amount of goods and services that can be bought with a wage, is not defined; this is because changes in the relative prices. Despite difficulty in defining one value for the real wage, in some cases a real wage can be said to have unequivocally increased; this is true if: After the change, the worker can now afford any bundle of goods and services that he could just afford before the change, still have money left over.
In such a situation, real wage increases no matter. Inflation could be calculated based on any good or service or combination thereof, real wage has still increased; this of course leaves many scenarios where real wage increasing, decreasing or staying the same depends upon how inflation is calculated. These are the scenarios where the worker can buy some of the bundles that he could just afford before and still have money left, but at the same time he cannot afford some of the bundles that he could before; this happens. The use of adjusted figures is used in undertaking some forms of economic analysis. For example, to report on the relative economic successes of two nations, real wage figures are more useful than nominal figures; the importance of considering real wages appears when looking at the history of a single country. If only nominal wages are considered, the conclusion has to be that people used to be poorer than today. However, the cost of living was much lower. To have an accurate view of a nation's wealth in any given year, inflation has to be taken into account and real wages must be used as one measuring stick.
An alternative is to look at how much time it took to earn enough money to buy various items in the past, one version of the definition of real wages as the amount of goods or services that can be bought. Such an analysis shows that for most items, it takes much less work time to earn them now than it did decades ago, at least in the United States. Real wages are a useful economic measure, as opposed to nominal wages, which show the monetary value of wages in that year. Consider an example economy with the following wages over three years. Assume that the inflation in this economy is 2% per year: Year 1: $20,000 Year 2: $20,400 Year 3: $20,808Real Wage = W/i. If the figures shown are real wages wages have increased by 2% after inflation has been taken into account. In effect, an individual making this wage has more ability to buy goods and services than the previous year. However, if the figures shown are nominal wages real wages are not increasing at all. In absolute dollar amounts, an individual is bringing home more money each year, but the increases in inflation zeroes out the increases in their salary.
Given that inflation is increasing at the same pace as wages, an individual cannot afford to increase their consumption in such a scenario. The nominal wage increases a worker sees in his paycheck may give a misleading impression of whether he is "getting ahead" or "falling behind" over time. For example, the average worker’s paycheck increased 2.7% in 2005, while it increased 2.1% in 2015, creating an impression for some workers that they were "falling behind". However, inflation was 3.4% in 2005, while it was only 0.1% in 2015, so workers were "getting ahead" with lower nominal paycheck increases in 2015 compared to 2005. Following the recession of 2008 real wages globally have stagnated with a world average real wage growth rate of 2% in 2013. Africa, Eastern Europe, Central Asia, Latin America have all experienced real wage growth of under 0.9% in 2013, whilst the developed countries of the OECD have experienced real wage growth of 0.2% in the same period. The International Labour Organisation has stated that wage stagnation has resulted in "a declining share of GDP going to labour while an increasing share goes to capital in developed economies."The Economic Policy Institute has blamed "intentional policy choices" by governments for real wage stagnation in this period.
Stating "the abandonment of full employment as a main objective of economic policymaking, declining union density, various labor market policies and business practices, policies that have allowed CEOs and finance executives to capture larger shares of economic growth, globalization policies" have resulted in stagnant real wages in a time of increasing productivity. The Economic Policy Institute stated wages have stagnated in the United States since the mid 1970s, failing to keep up with productivity. According to them, between 1973 and 2013, productivity grew 74.4% and hourly compensation grew 9.2%, contradicting economic theory that those two should rise together. However, the Heritage Foundation says these claims rest on misinterpreted economic statistics. According to them, productivity grew 100% between 19
Ministry of the Treasury (Argentina)
The Ministry of the Treasury of the Argentine Nation is a ministry and the treasury of the Argentine federal government. The current Minister of the Treasury is Nicolás Dujovne; the Argentine Ministry of the Treasury has, since the building's 1939 inaugural, been based in a 14-story Rationalist office building designed by local architect Carlos Pibernat. The Economy Ministry building was built on a 0.57 ha Montserrat neighborhood lot facing the Casa Rosada presidential office building to the north, the Defense Ministry to the east – a government building designed by Pibernat. The building's lobby was decorated with murals painted by the architect's brother, Antonio Pibernat, a post-impressionist painter influenced by the naturalist Barbizon School; the post has existed on a formal basis since the 1826 inaugural of Bernardino Rivadavia, who named lawmaker Salvador María del Carril as the nation's first official Ministro de Hacienda. The office became among the most powerful in Argentine Government during the generation after 1880, when English Argentine investment, foreign trade, immigration spurred development.
Customs collections and the Central Bank were among the responsibilities placed under the Economy Ministry's aegis, successive ministers' policies were enacted through presidential decrees. Its influence grew further when it absorbed the cabinet post of Minister of Public Works in 1991, to help facilitate Economy Minister Domingo Cavallo's privatizations initiative, and, in turn, divested oversight over the nation's goods-producing sectors with the 2008 designation of the Production Ministry by President Cristina Kirchner, in a bid to improve strained relations with the country's agrarian sector following the 2008 Argentine government conflict with the agricultural sector over export tariffs; the Ministry of the Treasury was appropriated a US$1.7 billion operational budget in 2009, employed over 4,000 staffers. Argentina Economy of Argentina Ministry of Economy - Official ministry portal Argentina.gov.ar - Official national portal Gobierno Electrónico - Official government website Presidencia de la Nación - Official presidential website
Transport in Argentina
Transport in Argentina is based on a complex network of routes, crossed by inexpensive long-distance buses and by cargo trucks. The country has a number of national and international airports; the importance of the long-distance train is minor today, though in the past it was used and is now regaining momentum after the re-nationalisation of the country's commuter and freight networks. Fluvial transport is used for cargo. Within the urban areas, the main transportation system is by the colectivo. Buenos Aires additionally has an underground, the only one in the country, Greater Buenos Aires is serviced by a system of suburban trains. A majority of people employ public transport rather than personal cars to move around in the cities in common business hours, since parking can be both difficult and expensive. Cycling is becoming common big cities as a result of a growing network of cycling lanes in Cities like Buenos Aires and Rosario; the Colectivo cover the cities with numerous lines. Fares might be fixed for the whole city.
Colectivos cross municipal borders into the corresponding metropolitan areas. In some cases there are diferenciales which are faster, notably more expensive. Bus lines in a given city might be run by different private companies and/or by the municipal state, they might be painted in different colours for easier identification; the city of Buenos Aires has in recent years been expanding its Metrobus BRT system to compliment its existing Underground network and it is estimated that, along with other measures, it will increase the city's use of public transport by 30 percent. Taxis are common and accessible price-wise, they have different colours and fares in different cities, though a contrasted black-and-yellow design is common to the largest conurbations. Call-taxi companies are common, while the remisse is another form of hired transport: they are much like call-taxis, but do not share a common design, trip fares are agreed beforehand instead of using the meter. Although, there are fixed prices for common destinations.
Suburban trains connect Buenos Aires city with the Greater Buenos Aires area. Every weekday, more than 1.4 million people commute to the Argentine capital for work and other business. These suburban trains work between 4 AM and 1 AM; the busiest lines are electric, several are diesel powered, while some of these are being electrified, while the rolling stock is being replaced across the city. Until Trenes de Buenos Aires, UGOFE, Ferrovías and Metrovías were some of the private companies which provided suburban passenger services in the Buenos Aires metropolitan area. However, with the modernisation and re-nationalisation of these services, many of these companies have had their contracts terminated or have been absorbed into Trenes Argentinos, though as of 2015 some private operators such as Metrovías do remain. Other cities in Argentina with a system of suburban trains include Resistencia, Paraná and Mendoza, home to the Metrotranvía Mendoza - an urban light rail network. A commuter rail network for Córdoba is planned to complement the existing Tren de las Sierras which runs through the city and to nearby towns and villages.
As of 2015, Buenos Aires is the only Argentine city with an underground metro system, nonetheless there is a project to build a system in the city of Córdoba making it the second underground system in Argentina. The Buenos Aires Underground has six lines, each labelled with a letter from A to H, though 3 more lines are planned. A modern tram line line E2 works as a feeder to Underground Line E at their outer terminus as well as the Urquiza Line for Underground Line B in Chacarita. Daily ridership is 1.3 million and on the increase. Most of the lines of the Buenos Aires Undergrounds connect the city centre with areas in the outskirts of the city proper, though none go outside the city limits to Greater Buenos Aires. In recent years, the Underground has seen a gradual expansion, with lines H, B and A seeing extensions; as of 2015, the extension of lines E and H are under construction, with work commenced on the new line F and two additional lines planned. The rolling stock has been replaced in recent years and there are further plans to modernise.
Trams, once common, were retired as public transportation in the 1960s but are now in the stages of a slow comeback. In 1987 a modern tram line was opened as a feeder for the underground system. A modern light rail line between the Bartolomé Mitre suburban railway station and Tigre inaugurated in 1996 operates in the northern suburbs. A 2-kilometre tram known as the Tranvía del Este was inaugurated 2007 in the Puerto Madero district of Buenos Aires using loaned French Citadis trams, but plans for its extension never came to fruition, declining patronage led the line's closure in 2012. Trams were once common in Buenos Aires, with the city having a large 875 km tramway network and the largest tramway-to-population ratio the world, which gained it notoriety as "the city of trams" across the world; the first trams began operating in the 1860s, however by the 1960s the network was dismantled and replaced by buses. There is a Heritage Tramway maintained by enthusiasts that operates a large collection of vintage trams on weekends, nea
Agriculture in Argentina
Agriculture is one of the bases of Argentina's economy. Argentine agriculture is capital intensive, today providing about 7% of all employment, during its period of dominance around 1900, accounting for no more than a third of all labor. Having accounted for nearly 20% of GDP as late as 1959, it adds, less than 10% today. Agricultural goods, whether raw or processed earn over half of Argentina's foreign exchange and arguably remain an indispensable pillar of the country's social progress and economic prosperity. An estimated 10-15% of Argentine farmland is foreign owned. One fourth of Argentine exports of about US$86 billion in 2011 were composed of unprocessed agricultural primary goods soybeans and maize. A further one third were composed of processed agricultural products, such as animal feed and vegetable oils; the national governmental organization in charge of overseeing agriculture is the Secretariat of Agriculture, Cattle Farming and Food. Since its formal organization as a national entity in the second half of the 17th century, the country followed an agricultural and livestock export model of development with a large concentration of crops in the fertile Pampas in and around Buenos Aires Province, as well as in the littoral of the Paraná and Uruguay Rivers.
Limited to stock-raising activities and centered on the export of cattle hides and wool, Argentine agriculture languished during the colonial era and well into the 19th century. The need for intensive agriculture was recognized as early as 1776. Aside from the yerba mate harvest in the northeast, attempts to develop it suffered setbacks due to internal strife and lack of skill and machinery; the development of a cohesive state after 1852 led to the 1868 creation of Argentina's first Institute of Agronomy and the 1875 arrival of the first intact grain shipment from Argentina to Great Britain sparked a wave of local investment in cultivation and silos and British investment in railways and finance. The 1876 development of refrigerated beef shipping led to the modernization of that sector. By the 1920s, Argentine exports reached US$1 billion annually. Maize and wheat had, by largely overshadowed beef production and exports; these developments were accompanied by a wave of European immigration and investments in education and infrastructure, all of which nearly reinvented Argentine society.
Agricultural development, in turn, led to the first meaningful industrial growth, during the 1920s, was centered on food processing and involved United States capital. Agricultural exports provided the Argentine Treasury with generous surpluses during both World Wars and helped finance a boom in machinery and consumer goods imports between the wars and after 1945; the creation of a single grain purchaser by President Juan Perón produced mixed results shortchanging growers as it benefited them with investments in infrastructure and pest control. Since 1960, according to Viglizzo: Agriculture expanded during the last 50 years from the Pampas to NW Argentina at the expense of natural forests and rangelands. In parallel, productivity was boosted through the increasing application of external inputs, modern technology and management practices. Policies friendly to industrial investment during the Arturo Frondizi's tenure led to the establishment of FIAT and John Deere farm machinery makers locally, spurring further modernization, as did accelerated rural roadbuilding and electrification programs during the 1960s.
Cost-cutting measures by the Juan Carlos Onganía regime led to the closure of 11 large sugar mills in 1966, however as agriculture continued to grow. Domestic austerity policies pursued by the last dictatorship and Raúl Alfonsín's government led to record trade surpluses during much of the 1976–90 era, led by agricultural exports and, the sudden boom in soybean cultivation, which displaced sunflower seeds as the leading oilseed crop in 1977. A severe shortage of domestic credit hampered the sector somewhat, however, as growing harvests soon outstripped transport and storage capacity. A tie of the Argentine peso to the U. S. dollar implemented by economist Domingo Cavallo in 1991 reduced export competitiveness somewhat, though the resulting stability led to record investments in agricultural infrastructure and led to strong growth in harvests during the late 1990s. These trends were accompanied by the federal approval of GMO crops in 1995. A devaluation of the peso in 2002 and a sustained rise in commodity prices since has further encouraged the sector, leading to record production and exports, helping finance record public works spending through export tariffs, a centerpiece of Néstor and Cristina Kirchner's economic policies.
These, in turn, became a point of contention when President Cristina Kirchner advanced a hike in export tariffs, leading to the 2008 Argentine government conflict with the agricultural sector. All data refers to 2004 information by the FAO and by 2007 data from the Argentine Ministry of the Economy. Around 10% of the country is cultivated, while about half of it is used for cattle and other livestock. One of the main exports of the country are cereals, centered on corn and sorghum, with rice and barley produced for national consumption. With a total area of around 220.000 km², the annual production of cereals is around 100 million tonnes. Oilseeds became important. Of the 52 million tonnes produced annually, arou
Norway the Kingdom of Norway, is a Nordic country in Northern Europe whose territory comprises the western and northernmost portion of the Scandinavian Peninsula. The Antarctic Peter I Island and the sub-Antarctic Bouvet Island are dependent territories and thus not considered part of the kingdom. Norway lays claim to a section of Antarctica known as Queen Maud Land. Norway has a total area of 385,207 square kilometres and a population of 5,312,300; the country shares a long eastern border with Sweden. Norway is bordered by Finland and Russia to the north-east, the Skagerrak strait to the south, with Denmark on the other side. Norway has an extensive coastline, facing the Barents Sea. Harald V of the House of Glücksburg is the current King of Norway. Erna Solberg has been prime minister since 2013. A unitary sovereign state with a constitutional monarchy, Norway divides state power between the parliament, the cabinet and the supreme court, as determined by the 1814 constitution; the kingdom was established in 872 as a merger of a large number of petty kingdoms and has existed continuously for 1,147 years.
From 1537 to 1814, Norway was a part of the Kingdom of Denmark-Norway, from 1814 to 1905, it was in a personal union with the Kingdom of Sweden. Norway was neutral during the First World War. Norway remained neutral until April 1940 when the country was invaded and occupied by Germany until the end of Second World War. Norway has both administrative and political subdivisions on two levels: counties and municipalities; the Sámi people have a certain amount of self-determination and influence over traditional territories through the Sámi Parliament and the Finnmark Act. Norway maintains close ties with both the United States. Norway is a founding member of the United Nations, NATO, the European Free Trade Association, the Council of Europe, the Antarctic Treaty, the Nordic Council. Norway maintains the Nordic welfare model with universal health care and a comprehensive social security system, its values are rooted in egalitarian ideals; the Norwegian state has large ownership positions in key industrial sectors, having extensive reserves of petroleum, natural gas, lumber and fresh water.
The petroleum industry accounts for around a quarter of the country's gross domestic product. On a per-capita basis, Norway is the world's largest producer of oil and natural gas outside of the Middle East; the country has the fourth-highest per capita income in the world on the World IMF lists. On the CIA's GDP per capita list which includes autonomous territories and regions, Norway ranks as number eleven, it has the world's largest sovereign wealth fund, with a value of US$1 trillion. Norway has had the highest Human Development Index ranking in the world since 2009, a position held between 2001 and 2006, it had the highest inequality-adjusted ranking until 2018 when Iceland moved to the top of the list. Norway ranked first on the World Happiness Report for 2017 and ranks first on the OECD Better Life Index, the Index of Public Integrity, the Democracy Index. Norway has one of the lowest crime rates in the world. Norway has two official names: Norge in Noreg in Nynorsk; the English name Norway comes from the Old English word Norþweg mentioned in 880, meaning "northern way" or "way leading to the north", how the Anglo-Saxons referred to the coastline of Atlantic Norway similar to scientific consensus about the origin of the Norwegian language name.
The Anglo-Saxons of Britain referred to the kingdom of Norway in 880 as Norðmanna land. There is some disagreement about whether the native name of Norway had the same etymology as the English form. According to the traditional dominant view, the first component was norðr, a cognate of English north, so the full name was Norðr vegr, "the way northwards", referring to the sailing route along the Norwegian coast, contrasting with suðrvegar "southern way" for, austrvegr "eastern way" for the Baltic. In the translation of Orosius for Alfred, the name is Norðweg, while in younger Old English sources the ð is gone. In the 10th century many Norsemen settled in Northern France, according to the sagas, in the area, called Normandy from norðmann, although not a Norwegian possession. In France normanni or northmanni referred to people of Sweden or Denmark; until around 1800 inhabitants of Western Norway where referred to as nordmenn while inhabitants of Eastern Norway where referred to as austmenn. According to another theory, the first component was a word nór, meaning "narrow" or "northern", referring to the inner-archipelago sailing route through the land.
The interpretation as "northern", as reflected in the English and Latin forms of the name, would have been due to folk etymology. This latter view originated with philologist Niels Halvorsen Trønnes in 1847; the form Nore is still used in placenames such as the village of Nore and lake Norefjorden in Buskerud county, still has the same meaning. Among other arguments in favour of the theor
Hungary is a country in Central Europe. Spanning 93,030 square kilometres in the Carpathian Basin, it borders Slovakia to the north, Ukraine to the northeast, Austria to the northwest, Romania to the east, Serbia to the south, Croatia to the southwest, Slovenia to the west. With about 10 million inhabitants, Hungary is a medium-sized member state of the European Union; the official language is Hungarian, the most spoken Uralic language in the world, among the few non-Indo-European languages to be spoken in Europe. Hungary's capital and largest city is Budapest; the territory of modern Hungary was for centuries inhabited by a succession of peoples, including Celts, Germanic tribes, West Slavs and the Avars. The foundations of the Hungarian state were established in the late ninth century CE by the Hungarian grand prince Árpád following the conquest of the Carpathian Basin, his great-grandson Stephen I ascended the throne in 1000, converting his realm to a Christian kingdom. By the 12th century, Hungary became a regional power, reaching its cultural and political height in the 15th century.
Following the Battle of Mohács in 1526, Hungary was occupied by the Ottoman Empire. It came under Habsburg rule at the turn of the 18th century, joined Austria to form the Austro–Hungarian Empire, a major European power; the Austro-Hungarian Empire collapsed after World War I, the subsequent Treaty of Trianon established Hungary's current borders, resulting in the loss of 71% of its territory, 58% of its population, 32% of ethnic Hungarians. Following the tumultuous interwar period, Hungary joined the Axis Powers in World War II, suffering significant damage and casualties. Hungary became a satellite state of the Soviet Union, which contributed to the establishment of a socialist republic spanning four decades; the country gained widespread international attention as a result of its 1956 revolution and the seminal opening of its previously-restricted border with Austria in 1989, which accelerated the collapse of the Eastern Bloc. On 23 October 1989, Hungary became a democratic parliamentary republic.
Hungary is an OECD high-income economy and has the world's 58th largest economy by PPP. It ranks 45th on the Human Development Index, owing in large part to its social security system, universal health care, tuition-free secondary education. Hungary's rich cultural history includes significant contributions to the arts, literature, sports and technology, it is the 13th most popular tourist destination in Europe, attracting 15.8 million international tourists in 2017, owing to attractions such as the largest thermal water cave system in the world, second largest thermal lake, the largest lake in Central Europe and the largest natural grasslands in Europe. Hungary's cultural and academic prominence classify it as a middle power in global affairs. Hungary joined the European Union in 2004 and has been part of the Schengen Area since 2007, it is a member of numerous international organizations, including the United Nations, NATO, WTO, World Bank, the AIIB, the Council of Europe, the Visegrád Group.
The "H" in the name of Hungary is most due to early founded historical associations with the Huns, who had settled Hungary prior to the Avars. The rest of the word comes from the Latinized form of Byzantine Greek Oungroi. According to an explanation,the Greek name was borrowed from Old Bulgarian ągrinŭ, in turn borrowed from Oghur-Turkic Onogur. Onogur was the collective name for the tribes who joined the Bulgar tribal confederacy that ruled the eastern parts of Hungary after the Avars; the Hungarian endonym is Magyarország, composed of ország. The word magyar is taken from the name of one of the seven major semi-nomadic Hungarian tribes, magyeri; the first element magy is from Proto-Ugric *mäńć-'man, person' found in the name of the Mansi people. The second element eri,'man, lineage', survives in Hungarian férj'husband', is cognate with Mari erge'son', Finnish archaic yrkä'young man'; the Roman Empire conquered the territory west of the Danube between 35 and 9 BC. From 9 BC to the end of the 4th century, Pannonia was part of the Roman Empire, located within part of Hungary's territory.
Around AD 41–54, a 500-strong cavalry unit created the settlement of Aquincum and a Roman legion of 6,000 men was stationed here by AD 89. A civil city grew in the neighbourhood of the military settlement and in AD 106 Aquincum became the focal point of the commercial life of this area and the capital city of the province of Pannonia Inferior; this area now corresponds to the Óbuda district of Budapest, with the Roman ruins now forming part of the modern Aquincum museum. Came the Huns, a Central Asian tribe who built a powerful empire. After Hunnish rule, the Germanic Ostrogoths and Gepids, the Avar Khaganate, had a presence in the Carpathian Basin. In the 9th century, East Francia, the First Bulgarian Empire and Great Moravia ruled the territory of the Carpathian Basin; the freshly unified Hungarians led by Árpád, settled in the Carpathian Basin starting in 895. According to linguistic evidence, they originated from an ancient Uralic-speaking population that inhabited the forested area between the Volga River and the Ural Mountains.
As a federation of united tribes, Hungary was established in 895, some 50 years after the division of the Carolingian Empire at the Treaty of Verdun in 843, before the unification of the Anglo-Saxon king
Brazil the Federative Republic of Brazil, is the largest country in both South America and Latin America. At 8.5 million square kilometers and with over 208 million people, Brazil is the world's fifth-largest country by area and the fifth most populous. Its capital is Brasília, its most populated city is São Paulo; the federation is composed of the union of the 26 states, the Federal District, the 5,570 municipalities. It is the largest country to have Portuguese as an official language and the only one in the Americas. Bounded by the Atlantic Ocean on the east, Brazil has a coastline of 7,491 kilometers, it borders all other South American countries except Ecuador and Chile and covers 47.3% of the continent's land area. Its Amazon River basin includes a vast tropical forest, home to diverse wildlife, a variety of ecological systems, extensive natural resources spanning numerous protected habitats; this unique environmental heritage makes Brazil one of 17 megadiverse countries, is the subject of significant global interest and debate regarding deforestation and environmental protection.
Brazil was inhabited by numerous tribal nations prior to the landing in 1500 of explorer Pedro Álvares Cabral, who claimed the area for the Portuguese Empire. Brazil remained a Portuguese colony until 1808, when the capital of the empire was transferred from Lisbon to Rio de Janeiro. In 1815, the colony was elevated to the rank of kingdom upon the formation of the United Kingdom of Portugal and the Algarves. Independence was achieved in 1822 with the creation of the Empire of Brazil, a unitary state governed under a constitutional monarchy and a parliamentary system; the ratification of the first constitution in 1824 led to the formation of a bicameral legislature, now called the National Congress. The country became a presidential republic in 1889 following a military coup d'état. An authoritarian military junta came to power in 1964 and ruled until 1985, after which civilian governance resumed. Brazil's current constitution, formulated in 1988, defines it as a democratic federal republic. Due to its rich culture and history, the country ranks thirteenth in the world by number of UNESCO World Heritage Sites.
Brazil is considered an advanced emerging economy. It has the ninth largest GDP in the world by nominal, eight and PPP measures, it is one of the world's major breadbaskets, being the largest producer of coffee for the last 150 years. It is classified as an upper-middle income economy by the World Bank and a newly industrialized country, with the largest share of global wealth in Latin America. Brazil is a regional power and sometimes considered a great or a middle power in international affairs. On account of its international recognition and influence, the country is subsequently classified as an emerging power and a potential superpower by several analysts. Brazil is a founding member of the United Nations, the G20, BRICS, Union of South American Nations, Organization of American States, Organization of Ibero-American States and the Community of Portuguese Language Countries, it is that the word "Brazil" comes from the Portuguese word for brazilwood, a tree that once grew plentifully along the Brazilian coast.
In Portuguese, brazilwood is called pau-brasil, with the word brasil given the etymology "red like an ember", formed from brasa and the suffix -il. As brazilwood produces a deep red dye, it was valued by the European textile industry and was the earliest commercially exploited product from Brazil. Throughout the 16th century, massive amounts of brazilwood were harvested by indigenous peoples along the Brazilian coast, who sold the timber to European traders in return for assorted European consumer goods; the official Portuguese name of the land, in original Portuguese records, was the "Land of the Holy Cross", but European sailors and merchants called it the "Land of Brazil" because of the brazilwood trade. The popular appellation eclipsed and supplanted the official Portuguese name; some early sailors called it the "Land of Parrots". In the Guarani language, an official language of Paraguay, Brazil is called "Pindorama"; this was the name the indigenous population gave to the region, meaning "land of the palm trees".
Some of the earliest human remains found in the Americas, Luzia Woman, were found in the area of Pedro Leopoldo, Minas Gerais and provide evidence of human habitation going back at least 11,000 years. The earliest pottery found in the Western Hemisphere was excavated in the Amazon basin of Brazil and radiocarbon dated to 8,000 years ago; the pottery was found near Santarém and provides evidence that the tropical forest region supported a complex prehistoric culture. The Marajoara culture flourished on Marajó in the Amazon delta from 800 CE to 1400 CE, developing sophisticated pottery, social stratification, large populations, mound building, complex social formations such as chiefdoms. Around the time of the Portuguese arrival, the territory of current day Brazil had an estimated indigenous population of 7 million people semi-nomadic who subsisted on hunting, fishing and migrant agriculture; the indigenous population of Brazil comprised several large indigenous ethnic groups. The Tupí people were subdivided into the Tupiniquins and Tupinambás, there were many subdivisions of the other gro