That's a first.
Never before in human history have so few humans existed below the level of extreme poverty.
The reason for the drop?
Free markets coupled with innovation allows humanity access to wealth. Free market capitalism -- not socialism and certain not communism -- get the credit.
That makes us wonder:
• Considering poverty is at an all-time low, why do globalists insist that extreme poverty is the driving force behind the migration of Hispanics to the United States and Africans to Western Europe.
• What's more, the myth that globalism is the cure for poverty is proven false.
• The innovation of Western culture coupled with free markets is literally feeding the world.
• So why the gloom and doom from conspiracy theorists and Darbyism?
Answer: Kenn's Law #8 ►
Please report typos...
According to the World Bank, for the first time in human history, “less than 10 percent of the world’s population will be living in extreme poverty by the end of 2015.” The bank has “used a new income figure of $1.90 per day to define extreme poverty, up from $1.25. It forecasts that the proportion of the world’s population in this category will fall from 12.8 percent in 2012 to 9.6 percent.”
As scholars have noted, historically speaking, grinding poverty was the norm for most ordinary people. Even in the most economically advanced parts of the world, life used to be miserable. To give one example, at the end of the 18th century, ten million of France’s twenty-three million people relied on some sort of public or private charity to survive and three million were full-time beggars.
Thanks to the industrial revolution and trade, economic growth in the West accelerated to historically unprecedented levels. Over the course of the 19th and 20th centuries, real incomes in the West increased fifteen-fold. But the chasm that opened up as a result of the Western take-off is now closing.
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