Extreme poverty dropped from 44% of the global population in 1981 to just 9% in 2019.
Extreme poverty dropped from 44% of the global population in 1981 to just 9% in 2019.
I found this in the newsletter from Our World in Data and thought it was interesting to share here.
The researchers are from the University of San Diego. I shared the link above to the authors’ website because the university website is not opening for me.
The final version should be here, according to the newsletter and Google: https://econweb.ucsd.edu/~pniehaus/papers/how_poverty_fell.pdf
Follow up question should be: did they also reclassify 'extreme poverty'?
Poverty is defined as living in a household with consumption per capita below $2.15 per day.
They did not. Unless they forgot to account for inflation, but that would be a pretty glaring mistake to make.
Depends if that $2.15 was adjusted for inflation I guess.
Not adjusted to inflation and modern wages
They actually did adjust for inflation.
We study poverty in the now-conventional sense of living on less than $2.15 per day in 2017 PPP dollars (World Bank, 2023), using both consumption- and income-based measures as available.
1 These rates are based on the $2.15 2017 PPP poverty line (Chen and Ravallion, 2010; World Bank, 2023). See https://pip.worldbank.org/
https://vincentarmentano.com/research/hpf/howpovertyfell.pdf (Bottom of 2nd page)