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The World’s Poorest People Are Getting Richer Faster Than Anyone Else – Article by Alexander Hammond

The World’s Poorest People Are Getting Richer Faster Than Anyone Else – Article by Alexander Hammond

The New Renaissance Hat
Alexander Hammond
October 29, 2017
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Last Tuesday marked the 25th anniversary of the United Nations’ International Day for the Eradication of Poverty. The date intentionally coincides with the 30th anniversary of the Call to Action, which saw the French anti-poverty campaigner Father Joseph Wresinski ask the international community, in front of 100,000 Parisians, to “strive to eradicate extreme poverty”.

To mark the occasion, Antonio Guterres, the United Nations Secretary-General, was featured in a short video assessing the current state of world poverty. Despite noting such issues as unemployment, inequality, and conflict continuing in some regions, Guterres correctly observed that since 1990 the world has made “remarkable progress in eradicating poverty.”

While it is valuable to acknowledge that problems remain, it is important to reflect on just how far we’ve come.

Alleviating Poverty Fast

The speed of poverty alleviation in the last 25 years has been historically unprecedented. Not only is the proportion of people in poverty at a record low, but, in spite of adding 2 billion to the planet’s population, the overall number of people living in extreme poverty has fallen, too.

As Johan Norberg writes in his book Progress, “If you had to choose a society to live in but did not know what your social or economic position would be, you would probably choose the society with the lowest proportion (not the lowest numbers) of poor, because this is the best judgement of the life of an average citizen.” Well, in 1820, 94 percent of the world’s population lived in extreme poverty (less than $1.90 per day adjusted for purchasing power). In 1990 this figure was 34.8 percent, and in 2015, just 9.6 percent.

In the last quarter century, more than 1.25 billion people escaped extreme poverty – that equates to over 138,000 people (i.e., 38,000 more than the Parisian crowd that greeted Father Wresinski in 1987) being lifted out of poverty every day. If it takes you five minutes to read this article, another 480 people will have escaped the shackles of extreme of poverty by the time you finish. Progress is awesome. In 1820, only 60 million people didn’t live in extreme poverty. In 2015, 6.6 billion did not.

Now let’s consider those people who are still trapped in extreme poverty. The Oxford University scholar Max Roser’s website, Our World in Data, used World Bank databases to estimate that in 2013, there were 746 million people living in extreme poverty. Of these people, slightly more than 380 million resided in Africa, with Nigeria being home to largest number (86 million). Meanwhile, 327 million of those in extreme poverty lived in Asia, with India having the largest proportion by far (218 million). China had 25 million. The remaining 35 million lived in South America (19 million), North America (13 million), Oceania (2.5 million) and Europe (0.7 million.)

Put differently, of those who live in extreme poverty, over 40 percent resided in just two nations: India and Nigeria.

The Poorest of the Poor

Since its economic liberalization reforms in 1991, India’s average income has increased by 7.5 percent per year. That means that average income has more than tripled over the last quarter century. As wealth increased, the poverty rate in India declined by almost 24 percent. But most significantly, for the Dalits – the poorest and lowest caste in Indian society – the poverty rate during this period declined even faster, by 31 percent. That means that in the nation that has by far the largest number of people in extreme poverty, it is the people at the very bottom of the social strata who are getting richer faster.

A similar trend can be seen in Nigeria. Since the new millennium, gross domestic income per capita has increased by over 800 percent, from $270 to over $2,450. There is much work to be done, but this level of progress shows that even in the poorest countries, the speed of economic growth is encouraging.

In order to help the poorest, consider the impact free-market capitalism has had in the last 200 years in alleviating extreme poverty. The Industrial Revolution turned the once-impoverished western countries into abundant societies. The new age of globalization, which started around 1980, saw the developing world enter the global economy and resulted in the largest escape from poverty ever recorded. That is something that the late Father Wresinski would have been eager to celebrate.

Alexander C. R. Hammond is the Research Assistant for HumanProgress.org, a project of the Cato Institute’s Center for Global Liberty and Prosperity. He writes about economic freedom, globalization, and human well-being.

This article was published by The Foundation for Economic Education and may be freely distributed, subject to a Creative Commons Attribution 4.0 International License, which requires that credit be given to the author. Read the original article.

The VA Scandal is Just the Tip of the Military-Abuse Iceberg – Article by Ron Paul

The VA Scandal is Just the Tip of the Military-Abuse Iceberg – Article by Ron Paul

The New Renaissance Hat
Ron Paul
May 25, 2014
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President Obama held a press conference last week to express his outrage over reports that the Veterans Administration was routinely delaying treatment to veterans, with some veterans even dying while on alleged secret waiting lists. The president said that, “if these allegations prove to be true, it is dishonorable, it is disgraceful, and I will not tolerate it, period.” He vowed that, together with Congress, he would “make sure we’re doing right by our veterans across the board.”

The president is right to be upset over the mistreatment of US military veterans, especially those who return home with so many physical and mental injuries.  Veterans should not be abused when they seek the treatment promised them when they enlisted. But his outrage over military abuse is selective. He ignores the most egregious abuse of the US armed forces: sending them off to fight, become maimed, and die in endless conflicts overseas that have no connection to US national security.

It is ironic that the same week the president condemned the alleged mistreatment of veterans by the VA, he announced that he was sending 80 armed troops to Chad to help look for a group of girls kidnapped by the Nigerian Islamist organization Boko Haram. Is there any mistreatment worse than sending the US military into a violent and unstable part of the world to conduct a search operation that is in no way connected to the defense of the United States?

As Judge Andrew Napolitano said last week, “Feeling sorry for somebody is not a sufficient basis for sending American men and women into harm’s way.”

We are naturally upset over reports that Nigerian girls have been kidnapped by this armed Islamist organization. Unfortunately, cruel and unjust acts are committed worldwide on a regular basis. What the media is not reporting about this terrible situation, however, is that it was US interventionism itself that strengthened Boko Haram, and inadvertently may have even helped the kidnappers commit their crime.

Back in early 2012, just months after the US-led attack on Libya overthrew Gaddafi and plunged the country into chaos, the UN issued a report warning about the proliferation of weapons from that bombed out country. UN investigators found – eight months before the attack that killed the US ambassador in Benghazi – that, “Some of the weapons … could be sold to terrorist groups like al Qaeda in the Islamic Maghreb, Boko Haram or other criminal organizations.”

The US, NATO, and the UN are guilty of creating the unrest currently engulfing much of northern Africa, as they all pushed lies to promote an attack on Libya that destabilized the region. Now the president is launching an intervention in Chad and Nigeria to solve the problems created by his own intervention in Libya. This pattern is the same in places like Ukraine, where the US-backed coup in February has led to chaos and unrest that leads to even more intervention, including NATO’s saber-rattling on the Russian border. Has anyone in the Administration or Congress ever considered that interventionism itself might be the real problem?

As Americans celebrate the Memorial Day holiday, we should remember that though the VA’s alleged abuse and neglect of US veterans is scandalous, the worse abuse comes from a president and a compliant Congress that send the US military to cause harm and be harmed overseas in undeclared, unnecessary, and illegal interventions. The best way to honor the US military is to honor the Constitution, and to keep in mind the wise advice of our Founding Fathers to avoid all foreign interventionism.

Ron Paul, MD, is a former three-time Republican candidate for U. S. President and Congressman from Texas.

This article is reprinted with permission from the Ron Paul Institute for Peace and Prosperity.