For John, BLUF: The world is a better place than it was when we were born.. Nothing to see here; just move along.
Here is the sub-headline:
It projects 702 million people or 9.6% of the world’s population will be living in extreme poverty in 2015, down from 902 million people or 12.8% in 2012
From The Guardian, via Reuters, 4 Oct 2018.
Here is the lede plus one:
The number of people living in extreme poverty is likely to fall for the first time below 10% of the world’s population in 2015, the World Bank said on Sunday as it revised its benchmark for measuring the problem.So, is this due to the spread of Socialism, including Bolivarian Socialism and juche or due to various forms of capitalism, or due to the secret spread of some third approach?
“This is the best story in the world today,” said World Bank president Jim Yong Kim. “These projections show us that we are the first generation in human history that can end extreme poverty.”
Extreme poverty has long been defined as living on or below $1.25 a day, but the World Bank’s adjustment now sets the poverty line at $1.90 a day.
The Bank said the change reflects new data on differences in the cost of living across countries, while preserving the real purchasing power of the previous yardstick.
Hat tip to the InstaPundit.
Regards — Cliff