Editorial: The economic climate
The phrase "economic climate" has in recent times become very fashionable amongst politicians, economists, company directors and the news media. But, what is the true "economic climate" of a nation? Webster's dictionary gives one definition of climate as: "the prevailing temper or environmental conditions characterising a group or period." This definition suggests that the "true" economic climate not only involves consideration of the whole political, social and economic life of a nation, but also environmental factors (including the weather), as is evident from any recent examination of the international grain trade.