Poverty Reduction on a World Wide Scale

poverty reduction

Another graphical look at the amazing reduction in extreme world poverty, which dropped form 44% to less than 10% between 1981 and 2015 according to World Bank data (via Our World in Data/Max Roser). To put that 78% reduction in world poverty into perspective, consider that it took many thousands of years to go from close to 100% of the world living in extreme poverty to only 44% in 1981, and then only 34 years to go from 44% to less than 10%. As Larry Kudlow reminds us, “Free market capitalism is the best path to prosperity,” and it’s market forces that have lifted more people out of poverty than any government program or initiative from the United Nations, World Bank or International Monetary Fund. (Emphasis mine)

HT Mark Perry

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