The best medicine?

Abstract:

It is not hard to spot the problem: $1.90 a day in the US is closer to a starvation line than a poverty line. It is barely 24 cents per hour, assuming an eighthour workday. The World Bank is aware of this and therefore recommends higher poverty lines depending on a country’s income level. Even the highest one, $5.50 a day, is still remarkably low: less than a tenth of the US’s already pitifully low federal minimum wage (which is currently $7.25 per hour, although in many states it is higher). If we use the $5.50 figure as the international poverty line, we find that the actual number of global poor is much higher: 46%. Then there’s the China and India effect. These two countries–particularly China–have single-handedly been responsible for the bulk of global poverty reduction since the 1990s. If we were to use the $5.50 figure and remove them from consideration, we would find that global poverty went from 57% in 1981 to …

Año de publicación:

2019

Keywords:

Fuente:

google