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GDP is a misleading metric of a population’s welfare because it skirts the all-important issue of who benefits and ignores the costs to future generations arising from reckless natural resource use.

On 2 November, after the US and France had approved the plan, the Balfour Declaration was issued, stating that 'His Majesty's Government view with favour the establishment in Palestine of a national home for the Jewish people, provided this did not 'prejudice the civil and religious rights of existing non-Jewish communities in Palestine' - in other words, the Palestinian Arabs who were the overwhelming majority of inhabitants. The failure to even name them was a revealing mistake. The words were carefully negotiated - 'a home' not a state, in Palestine not of Palestine.

Vladimir Lenin and his Bolsheviks seized power in Russia and withdrew from the war, adding insult to injury by publishing the secret Sykes-Picot-Sazonov carve-up which they had found in the tsarist archives.

Saddam Hussein was hanged

The Anglo-American coalition launches war against Iraq