Poverty

The World Bank has a vision of a world free of poverty.

Recently, a report was published which shows how challenging it will be to achieve that vision.

The figure below shows the actual growth rates in some countries, against what that growth rate needs to be to reduce poverty to < 3%. Many countries are unfortunately well short of being able to achieve the necessary growth rates which does not augur well for the future.

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A second aspect of poverty has to do with the poorest 40% of people. As the figure below shows, the average household in the poorest 40% of Americans would be in the richest 10% in Brazil; while the average household in the poorest 40% of Brazil would be in the richest 10% in India.  Due to differences in purchasing power between countries this is a bit distorting, but shows the challenges of eradicating poverty.

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Some years ago Hans Rosling gave an amazing TED talk on this issue. Worth watching if you are interested in the subject.

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