Thursday, September 1, 2011

Nice graphic showing the emergence of middle classes thoughout the world. Can we give just a little shout out and/or credit to free markets, free trade and globalization?

The spread of market activity, free(er) trade and globalization have lifted 100's of millions of people out of poverty around the world and has made the world a better and more peaceful place (yes, it IS more peaceful).  I don't think anti-capitalists in rich countries (think about those words for just a minute) understand this and only expound on the doom and gloom.  Does globalization have it costs? Absolutely, but when you tally up the costs you must off-set it with the benefits.  How about some acknowledgement of this tremendous achievement in such a short period of time.
The Economist

""THE past four years have seen a sharp contrast between recession-hit rich countries and buoyant emerging giants. Estimates from the Asian and African Development Banks, using a rather broad definition of middle class as living on $2-20 a day, confirm the picture. On this measurement, which includes many people who are only just above the poverty line, a third of Africans and three-quarters of Latin Americans were middle class in 2008. Meanwhile, the evidence that this progress will bring political demands that will reshape the develping world is mounting. ""
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