Saturday, November 30, 2013

Poverty is Falling

Average per capita income is only part of the story. Much of the world has reduced extreme poverty to very low levels (any level greater than zero is of course unacceptable). Africa has remained the exception, although it too appears to be beginning to reduce its rate of extreme poverty.

Much of development assistance is not focused on increasing average income, but on decreasing rates of poverty. (The one percent of Americans who get nearly one-quarter of income in the U.S. are even less interested in being taxed to increase the income of the rich in other countries than they are in being taxed to reduce the worst aspects of poverty in their own country.)

No comments: