Friday, June 19, 2015

Fewer poor

Most people think global poverty is increasing. So I guess most people would be surprised to hear that global poverty is decreasing.

The World Bank says that over half the world lived in extreme poverty in 1981 (defined as $1.25/day/person). By 2011, thirty years later, that percentage had gone down to 17% of the world's people - a stunning reduction of over 900 million people.

Charitable giving helps out in emergency situations, but no country becomes prosperous just through charity. Freedom to protect and manage one's own property plays a big part. More economic freedom in, for example, Botswana has led to less poverty and more prosperity.

Good news.

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