September 25, 2013

THERE ARE NO DISAGREEMENTS AT THE eND OF hISTORY:

The End of Poverty, Soon (JEFFREY D. SACHS, 9/25/13, NY Times)

According to the World Bank's scorecard, the proportion of households in developing countries below the extreme-poverty line (now measured as $1.25 per person per day at international prices) has declined sharply, from 52 percent in 1980, to 43 percent in 1990, 34 percent in 1999, and 21 percent in 2010. Even sub-Saharan Africa, the region with the most recalcitrant poverty, is finally experiencing a notable decline, from 58 percent in 1999 to 49 percent in 2010.

The gains are more marked in health. According to the latest Unicef study this month, the mortality rate of children under 5 in Africa declined from 177 deaths per 1,000 births in 1990, to 155 per 1,000 births in 2000, to 98 per 1,000 in 2012. This is still too high, but the rate of progress is rapid and accelerating.

While the recent gains are undoubted, the question is how to ensure that progress on incomes, health and other dimensions of poverty eradication (including access to schooling, safe water, electricity, sewerage) continues until extreme poverty is vanquished. Debates rage on this question and often shed more heat than light.

Here are the basics: economic growth, and hence a market economy, is vital.

Posted by at September 25, 2013 4:45 AM
  

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