“Although world population has increased by about 80% over this time (World Bank 2009), the number of people below the $1 a day poverty line has shrunk by nearly 64%, from 967 million in 1970 to 350 million in 2006. In the past 36 years, there has never been a moment with more than 1 billion people in poverty, and barring a catastrophe, there will never be such a moment in the future history of the world.”
From “Parametric estimations of the world distribution of income” by Maxim Pinkovskiy and Xavier Sala-i-Martin (Copyright Voxeu.org; © voxEU.org)
HT: Bruce Barlett
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