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Extreme poverty can decline while wealth inequality increases. "The World Bank defines “extreme poverty” as living on less than $1.90 per person per day." [1]
by Miner49er 7y ago
Extreme poverty can decline while wealth inequality increases.
"The World Bank defines “extreme poverty” as living on less than $1.90 per person per day." [1]
So sure, less people live on $1.90 a day then ever, because the world as a whole is richer. The richest at the top are still seeing the vast majority of the gains, it seems.
From my understanding wealth inequality started skyrocketing in most developed countries in the 1970's.
[1] https://www.worldbank.org/en/news/feature/2016/06/08/ending-extreme-poverty https://www.worldbank.org/en/news/feature/2016/06/08/ending-...
- ekianjo 7y ago> Extreme poverty can decline while wealth inequality increases. I did not suggest that both could not happen at the same time. You should expect people who have large assets to get rich faster than those who have virtually none.