Majority of the World No Longer Poor

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While we were busy being distracted by the world burning down these past couple weeks, something truly significant in the cannon of human history happened. A recent Brookings Institute meta-study concluded on September 27th of this year that half of the world’s population is now middle class or better, being defined as being able to afford extracurricular activities, durables, such as new televisions and computers, as well as confidence in surviving an economic downturn.

 

The conclusion made by Homi Kharas and Kristofer Hamel, the researchers, was incredibly poignant, and a triumph of modernity, “For the first time since agriculture-based civilization began 10,000 years ago, the majority of humankind is no longer poor or vulnerable to falling into poverty.”

 

You can read more about this incredible breakthrough here.

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