Extreme Poverty Down Globally, Up in U.S.
March 7, 2012
by Lauren Feeney
First, the good news. A World Bank report released last week shows that extreme poverty is on the decline. The percentage of people living on less than $1.25 a day decreased in every region of the developing world between 2005 and 2008. The fall was so steep that the United Nations Millennium Development Goal of halving the number of people living in extreme poverty has been met before the 2015 deadline.
This is contrary to the World Bank’s own prediction that the global financial crisis would lead to “a substantial deterioration in conditions for the world’s most vulnerable.”
But, as The New York Times explains, market conditions actually favored developing countries during the recession.
Economists had theorized that the credit crunch and recession would cause a flight to the safety of developed nations. But shortly after the recession, with growth stagnating in countries like the United States and in western Europe, the world’s investors plowed money into emerging markets.
China was the biggest success story — the ranks of the dire poor there decreased by 700 million between 1981 and 2008.
The bad news hits closer to home. The World Bank study doesn’t even bother to measure poverty rates in developed countries such as the U.S., Western Europe and Japan. But a new study from The National Poverty Center shows that the number of U.S. households living in extreme poverty (defined here as less than $2 a day per person) more than doubled from 1996 to 2011. The number of extremely poor children also doubled during that time, from 1.4 million to 2.8 million.
MORE via Extreme Poverty Down Globally, Up in U.S. | Connecting the Dots, What Matters Today | BillMoyers.com.
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December 9, 2012 • 7:08 pm 0
International: The lottery of life methodology | The Economist
The Economist Magazine provides a world view on how countries are doing for their citizens … The report speaks to quality of life and satisfaction providing an index that measures each country’s status, like a report card, on its population.
The USA used to be number 1 in this index as early as 1988. Today it has fallen to 16th.
This precipitous fall during the last quarter century (1988 to 2012) is a result of the American obsession with taxes, healthcare and education… Not an obsession to fix these things but an incapacity to do so ..
Read the Economist report, it may be an important wakeup call to the 1% who seek more and more while the country cracks and crumbles…
“The life satisfaction scores for 2006 on scale of 1 to 10 for 130 countries from the Gallup Poll are related in a multivariate regression to various factors. As many as 11 indicators are statistically significant. Together these indicators explain some 85% of the inter-country variation in life satisfaction scores. The values of the life satisfaction scores that are predicted by our indicators represent a countrys quality of life index. The coefficients in the estimated equation weight automatically the importance of the various factors. We can utilise the estimated equation for 2006 to calculate index values for year in the past and future, allowing for comparison over time as well across …”
via International: The lottery of life methodology | The Economist.
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