“It’s the greatest achievement
in human history,
and one you probably
never heard about.”
Extreme poverty in the world fell to 15% in 2011, from 36% in 1990. The credit goes to the spread of capitalism. The past 25 years have witnessed the greatest reduction in global poverty in the history of the world. An 80% reduction in world poverty in only 36 years.
The World Bank reported on Oct. 9 that the share of the world population living in extreme poverty had fallen to 15% in 2011 from 36% in 1990. Earlier this year, the International Labor Office reported that the number of workers in the world earning less than $1.25 a day has fallen to 375 million 2013 from 811 million in 1991. …
The reduction in world poverty has attracted little attention because it runs against the narrative pushed by those hostile to capitalism. The Michael…
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