No Natalie, Capitalism Has Delivered an 80% Decline in World Poverty

As newsrooms across the land stop what they are doing to read the Green Party’s response to Labour’s non-dom announcement, it is worth picking Natalie Bennett up on this:

“The last four decades have seen wealth accumulate at the top of society while those at the bottom struggle to get by.”

Now hold on just a darn prosperity-spreading cotton-picking second. Over the last four decades the world poverty rate – people living on a dollar a day or less – has plummetted. As this graph from CarpeDiem shows, in 1970 almost 30% of the globe was impoverished. 40 years later that number is as low as 5%:

Rather than more of “those at the bottom struggling to get by” over the last four decades, the world poverty rate has fallen 80%. For all the ideological socialist rhetoric, the cold hard facts show that capitalism has freed hundreds of millions from the clutches of poverty.




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Quote of the Day

Charles Moore on the aid charity’s sex scandal…

“Oxfam was the Harvey Weinstein of aid – arrogant, bullying, conspicuous in its faults, yet utterly immune until the balance of fear mysteriously changed overnight.”

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