Everybody’s featuring their “graphs and charts of the year,” like The Atlantic and the Washington Post (be sure to see Vice-President Joe Biden’s “Graph of the Year” on Amtrak ridership). Well, the chart above could perhaps qualify as the “chart of the century” because it illustrates one of the most remarkable achievements in human history: the 80% reduction in world poverty in only 36 years, from 26.8% of the world’s population living on $1 or less (in 1987 dollars) in 1970 to only 5.4% in 2006. (Source: The 2009 NBER working paper “Parametric Estimations of the World Distribution of Income,” by economists Maxim Pinkovskiy (MIT) and Xavier Sala-i-Martin (Columbia University).
It turns out that between 1970 and 2010 the worst poverty in the world – people who live on one dollar a day or less – that has decreased by 80 percent (see chart above). You never hear about that.
It’s the greatest achievement in human history, and you never hear about it.
80 percent of the world’s worst poverty has been eradicated in less than 40 years. That has never, ever happened before.
So what did that? What accounts for that? United Nations? US foreign aid? The International Monetary Fund? Central planning? No.
It was globalization, free trade, the boom in international entrepreneurship. In short, it was the free enterprise system, American style, which is our gift to the world.
I will state, assert and defend the statement that if you love the poor, if you are a good Samaritan, you must stand for the free enterprise system, and you must defend it, not just for ourselves but for people around the world. It is the best anti-poverty measure ever invented.
"Aristotle the Hun" was the name given to me more than 30 years ago when a friend noticed that in spite of my intellect I was still an Iowa farm boy.
Rev. Sam Sewell, is Director of Best Self USA, a Pastoral Psychotherapist, serves on the faculty of Naples Community Hospital as an instructor for Clinical Pastoral Education, President of the Theological Center in Naples, a member of Mensa where he serves as Gifted Youth Coordinator, a U.S. Navy Veteran, and a Member of the Association For Intelligence Officers. He is a frequent commentator on mental health and religious issues.His award winning research on family issues is published in several languages. Member of Sigma Delta Chi Honor Society
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