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In the new Brookings Institution report "Poverty in Numbers: The Changing State of Global Poverty from 2005 to 2015," we updated the World Bank's official $1.25-a-day figures to reveal how the global poverty landscape has changed with the emergence of developing countries. We estimate that between 2005 and 2010, nearly half a billion people escaped extreme hardship, as the total number of the world's poor fell to 878 million people. Never before in history have so many people been lifted out of poverty in such a short period. The U.N. Millennium Development Goals established the target of halving the rate of global poverty between 1990 and 2015; this was probably achieved by 2008, some seven years ahead of schedule. Moreover, using forecasts of per capita consumption growth, we predict that by 2015, fewer than 600 million people will remain poor. At that point, the 1990 poverty rate will have been halved and then halved again. The decline in poverty is happening in all the world's regions and most of its countries, though at varying speeds. The emerging markets of Asia are recording the greatest successes; the two regional giants, China and India, are likely to account for three-quarters of the global reduction between 2005 and 2015. Over this period, Asia's share of the world's poor is anticipated to fall from two-thirds to one-third, while Africa's share is expected to rise to nearly 60 percent. Yet Africa, too, is making advances; we estimate that in 2008 its poverty rate dropped below the 50 percent mark for the first time. By 2015, African poverty is projected to fall below 40 percent, a feat China did not achieve until the mid-1990s.
These findings are likely to surprise many, but they shouldn't. We know that growth lies at the heart of poverty reduction. As the growth of developing countries took off in the new millennium, epitomized by the rise of emerging markets, a massive drop in poverty was only to be expected.
With few exceptions, however, those who care about global development have been slow to catch on to this story. We hear far more about the 64 million people held back in poverty because of the Great Recession than we do about the hundreds of millions who escaped impoverishment over the past six years. While there is good reason to focus public attention on the need to support those still stuck below the poverty line, there is also reason to celebrate successes and to ensure that policy debates are grounded in reality.
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It seems that there are 500,000,000 fewer poor people than there was just 5 years ago. Maybe, just maybe, all those people that said that people getting rich helps everyone were right.
In the new Brookings Institution report "Poverty in Numbers: The Changing State of Global Poverty from 2005 to 2015," we updated the World Bank's official $1.25-a-day figures to reveal how the global poverty landscape has changed with the emergence of developing countries. We estimate that between 2005 and 2010, nearly half a billion people escaped extreme hardship, as the total number of the world's poor fell to 878 million people. Never before in history have so many people been lifted out of poverty in such a short period. The U.N. Millennium Development Goals established the target of halving the rate of global poverty between 1990 and 2015; this was probably achieved by 2008, some seven years ahead of schedule. Moreover, using forecasts of per capita consumption growth, we predict that by 2015, fewer than 600 million people will remain poor. At that point, the 1990 poverty rate will have been halved and then halved again. The decline in poverty is happening in all the world's regions and most of its countries, though at varying speeds. The emerging markets of Asia are recording the greatest successes; the two regional giants, China and India, are likely to account for three-quarters of the global reduction between 2005 and 2015. Over this period, Asia's share of the world's poor is anticipated to fall from two-thirds to one-third, while Africa's share is expected to rise to nearly 60 percent. Yet Africa, too, is making advances; we estimate that in 2008 its poverty rate dropped below the 50 percent mark for the first time. By 2015, African poverty is projected to fall below 40 percent, a feat China did not achieve until the mid-1990s.
These findings are likely to surprise many, but they shouldn't. We know that growth lies at the heart of poverty reduction. As the growth of developing countries took off in the new millennium, epitomized by the rise of emerging markets, a massive drop in poverty was only to be expected.
With few exceptions, however, those who care about global development have been slow to catch on to this story. We hear far more about the 64 million people held back in poverty because of the Great Recession than we do about the hundreds of millions who escaped impoverishment over the past six years. While there is good reason to focus public attention on the need to support those still stuck below the poverty line, there is also reason to celebrate successes and to ensure that policy debates are grounded in reality.
Poverty's success story
And, I know this is really petty, but all I have to say to all of you is
It seems that there are 500,000,000 fewer poor people than there was just 5 years ago. Maybe, just maybe, all those people that said that people getting rich helps everyone were right.
Poverty's success storyIn the new Brookings Institution report "Poverty in Numbers: The Changing State of Global Poverty from 2005 to 2015," we updated the World Bank's official $1.25-a-day figures to reveal how the global poverty landscape has changed with the emergence of developing countries. We estimate that between 2005 and 2010, nearly half a billion people escaped extreme hardship, as the total number of the world's poor fell to 878 million people. Never before in history have so many people been lifted out of poverty in such a short period. The U.N. Millennium Development Goals established the target of halving the rate of global poverty between 1990 and 2015; this was probably achieved by 2008, some seven years ahead of schedule. Moreover, using forecasts of per capita consumption growth, we predict that by 2015, fewer than 600 million people will remain poor. At that point, the 1990 poverty rate will have been halved and then halved again. The decline in poverty is happening in all the world's regions and most of its countries, though at varying speeds. The emerging markets of Asia are recording the greatest successes; the two regional giants, China and India, are likely to account for three-quarters of the global reduction between 2005 and 2015. Over this period, Asia's share of the world's poor is anticipated to fall from two-thirds to one-third, while Africa's share is expected to rise to nearly 60 percent. Yet Africa, too, is making advances; we estimate that in 2008 its poverty rate dropped below the 50 percent mark for the first time. By 2015, African poverty is projected to fall below 40 percent, a feat China did not achieve until the mid-1990s.
These findings are likely to surprise many, but they shouldn't. We know that growth lies at the heart of poverty reduction. As the growth of developing countries took off in the new millennium, epitomized by the rise of emerging markets, a massive drop in poverty was only to be expected.
With few exceptions, however, those who care about global development have been slow to catch on to this story. We hear far more about the 64 million people held back in poverty because of the Great Recession than we do about the hundreds of millions who escaped impoverishment over the past six years. While there is good reason to focus public attention on the need to support those still stuck below the poverty line, there is also reason to celebrate successes and to ensure that policy debates are grounded in reality.
And, I know this is really petty, but all I have to say to all of you is
What exactly are you trying to say? Where does this article suggest that trickle down economics had anything to do with this decrease in global poverty?
It seems that there are 500,000,000 fewer poor people than there was just 5 years ago. Maybe, just maybe, all those people that said that people getting rich helps everyone were right.
Poverty's success story
And, I know this is really petty, but all I have to say to all of you is
What exactly are you trying to say? Where does this article suggest that trickle down economics had anything to do with this decrease in global poverty?
It doesn't, and neither do I. I am just pointing out that, despite your assertion that all of the wealth is concentrated in the hands of a few people, there are fewer poor people today than there were 5 years ago. this fact does not upset my worldview at all, but it makes your insistence that wealth is a limited resource, and that we need to take the money from rich people to make sure there are no poor people, suspicious.
Welcome to a world that does not work the way you think it does.
It seems that there are 500,000,000 fewer poor people than there was just 5 years ago. Maybe, just maybe, all those people that said that people getting rich helps everyone were right.
Poverty's success story
And, I know this is really petty, but all I have to say to all of you is
What exactly are you trying to say? Where does this article suggest that trickle down economics had anything to do with this decrease in global poverty?
It doesn't, and neither do I. I am just pointing out that, despite your assertion that all of the wealth is concentrated in the hands of a few people, there are fewer poor people today than there were 5 years ago. this fact does not upset my worldview at all, but it makes your insistence that wealth is a limited resource, and that we need to take the money from rich people to make sure there are no poor people, suspicious.
Welcome to a world that does not work the way you think it does.
What exactly are you trying to say? Where does this article suggest that trickle down economics had anything to do with this decrease in global poverty?
It doesn't, and neither do I. I am just pointing out that, despite your assertion that all of the wealth is concentrated in the hands of a few people, there are fewer poor people today than there were 5 years ago. this fact does not upset my worldview at all, but it makes your insistence that wealth is a limited resource, and that we need to take the money from rich people to make sure there are no poor people, suspicious.
Welcome to a world that does not work the way you think it does.
huh quantum? who on this board has said such or argued for THE WORLD's poverty? I have ONLY seen threads on what has happened or is happening or has been surmised to have happened with poverty IN THE USA....
got any numbers on the USA's poverty levels for those 5 years that you are praising?
ALSO, are you actually praising our trade deficit, and also praising the jobs from here that are moving and have moved to these once impoverished countries that are now improving?? Are you a free trade globalist?
What exactly are you trying to say? Where does this article suggest that trickle down economics had anything to do with this decrease in global poverty?
It doesn't, and neither do I. I am just pointing out that, despite your assertion that all of the wealth is concentrated in the hands of a few people, there are fewer poor people today than there were 5 years ago. this fact does not upset my worldview at all, but it makes your insistence that wealth is a limited resource, and that we need to take the money from rich people to make sure there are no poor people, suspicious.
Welcome to a world that does not work the way you think it does.
huh quantum? who on this board has said such or argued for THE WORLD's poverty? I have ONLY seen threads on what has happened or is happening or has been surmised to have happened with poverty IN THE USA....
got any numbers on the USA's poverty levels for those 5 years that you are praising?
ALSO, are you actually praising our trade deficit, and also praising the jobs from here that are moving and have moved to these once impoverished countries that are now improving?? Are you a free trade globalist?
It doesn't, and neither do I. I am just pointing out that, despite your assertion that all of the wealth is concentrated in the hands of a few people, there are fewer poor people today than there were 5 years ago. this fact does not upset my worldview at all, but it makes your insistence that wealth is a limited resource, and that we need to take the money from rich people to make sure there are no poor people, suspicious.
Welcome to a world that does not work the way you think it does.
huh quantum? who on this board has said such or argued for THE WORLD's poverty? I have ONLY seen threads on what has happened or is happening or has been surmised to have happened with poverty IN THE USA....
got any numbers on the USA's poverty levels for those 5 years that you are praising?
ALSO, are you actually praising our trade deficit, and also praising the jobs from here that are moving and have moved to these once impoverished countries that are now improving?? Are you a free trade globalist?
Maybe he should be singing the praises of Communism since most of the gains in poverty according to the article are in China.
Again, I don't know how he possibly reached the conclusions he did based upon that article. It's almost as if he didn't actually read it.
huh quantum? who on this board has said such or argued for THE WORLD's poverty? I have ONLY seen threads on what has happened or is happening or has been surmised to have happened with poverty IN THE USA....
got any numbers on the USA's poverty levels for those 5 years that you are praising?
ALSO, are you actually praising our trade deficit, and also praising the jobs from here that are moving and have moved to these once impoverished countries that are now improving?? Are you a free trade globalist?
Maybe he should be singing the praises of Communism since most of the gains in poverty according to the article are in China.
Again, I don't know how he possibly reached the conclusions he did based upon that article. It's almost as if he didn't actually read it.
The conclusion I reached was that people are getting richer all over the world. Why is that hard for you to understand based on the fact that the article points out that people are getting richer all over the world? The part where I rub your nose in you being wrong has nothing to do with any conclusions I reached as a result of reading the article, I already knew you were a whacko before I read it.
