AI Snips
Chapters
Transcript
Episode notes
Huge Decline in Extreme Poverty
- Extreme poverty fell from about 2 billion people in the 1980s to roughly 700 million today.
- Despite population growth, over a billion people escaped extreme poverty since the 1980s, marking a huge achievement.
Within-Generation Poverty Decline
- Poverty decline happened mostly within generations, as people improved their economic status over their lifetimes.
- This challenges the notion that poverty reduces mainly because successive generations are less poor.
Poverty as a Slippery Slope
- Households often move in and out of poverty, showing poverty is volatile rather than a permanent trap.
- Poverty decline is more like climbing a slippery slope than escaping a fixed poverty trap.