Episode 297: What Happened to Poverty?
Words & Numbers
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The World Poverty Rate
As poverty does indeed become eradicated, you can shift gears and start talking about inequality. Doesn't matter how rich everybody gets, somebody's going to be richer and you're going to have inequality. So that's a problem that never leaves us. But let's go back to poverty for a moment. I've seen data that goes back to the 1700s. What you find is that the world poverty rate in the early 1800s was run about 90%, 90% of the world lived in poverty. We're down to less than 10%.
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