American Elephants


“The Ultimate Global Antipoverty Program” by The Elephant's Child

It’s the greatest achievement
in human history,
and one you probably
never heard about.”

Extreme poverty in the world fell to 15% in 2011, from 36% in 1990.  The credit goes to the spread of capitalism. The past 25 years have witnessed the greatest reduction in global poverty in the history of the world. An 80% reduction in world poverty in only 36 years.

The World Bank reported on Oct. 9 that the share of the world population living in extreme poverty had fallen to 15% in 2011 from 36% in 1990. Earlier this year, the International Labor Office reported that the number of workers in the world earning less than $1.25 a day has fallen to 375 million 2013 from 811 million in 1991. …

The reduction in world poverty has attracted little attention because it runs against the narrative pushed by those hostile to capitalism. The Michael Moores of the world portray capitalism as a degrading system in which the rich get richer and the poor get poorer. Yet thanks to growth in the developing world, world-wide income inequality—measured across countries and individual people—is falling, not rising, as Branco Milanovic of City University of New York and other researchers have shown.

So what accounts for that? “It was globalization, free trade, the boom in international entrepreneurship. In short, it was the free enterprise system, American style, which is our gift to the world.”

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