15 June 2017

Global Incomes ~ Distribution Change over Time...

Thanks to Daniel Mitchell from International Liberty for spotlighting a great chart by Professor Max Roser of Oxford using Gapminder data showing the distribution of income globally at key point in recent history...
"There are three takeaways from this data. The first conclusion [...] is that the world is getting richer. Hundreds of millions of people have been lifted out of extreme poverty. That’s wonderful news. The second conclusion, as seen by the red section of the chart, is that a modest bit of reform in India and China has paid big dividends (and, given the success of Indian-Americans and Chinese-Americans, I imagine those nations could become much richer with additional market-friendly reform). But I want to focus today on a third conclusion, which is that pro-growth policies are the best way to help the poor, not redistribution driven by a fixation on inequality."
https://danieljmitchell.wordpress.com/2017/05/20/long-run-global-growth-and-lessons-about-inequality-and-poverty-reduction/

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