Thursday, April 18, 2013

Nice graph showing the dramatic reduction in Extreme Poverty world-wide since 1981. THIS is a good thing!!

From  The World Bank in a report on the reduction of "extreme poverty" (subsisting on less than $1.25 per day):
Extreme poverty in the world has decreased considerably in the past three decades (figure 1). In 1981, more than half of citizens in the developing world lived on less than $1.25 a day.
This rate has dropped dramatically to 21 percent in 2010. Moreover, despite a 59 percent increase in the developing world’s population, there were significantly fewer people living on less than $1.25 a day in 2010 (1.2 billion) than there were three decades ago (1.9 billion).
But 1.2 billion people living in extreme poverty is still a extremely high figure, so the task ahead of us remains herculean.---The World Bank
The fact that the reduction comes in spite of a 59% INCREASE in population in developing countries over this time is stunning to me.  Greater Asia and India account for a disproportionate amount of the reduction.

Open markets, the Asian supply line, and free(er) trade have lifted 100's of millions out of extreme poverty.  This is a good thing.



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