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The greatest achievement in human history, and you never hear about it

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The greatest achievement in human history, and you never hear about it

Old 01-04-14, 04:08 PM
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The greatest achievement in human history, and you never hear about it

It's really a shame that this isn't getting attention from the mainstream media.

It's also a shame that there are still so many people who mistakenly think that globalization is bad, instead of good, for poor countries.



http://www.allenskillicorn.com/2653/...ry-never-hear/

The greatest achievement in human history, and you never hear about it



By Mark J. Perry

Everybody’s featuring their “graphs and charts of the year,” like The Atlantic and the Washington Post (be sure to see Vice-President Joe Biden’s “Graph of the Year” on Amtrak ridership). Well, the chart above could perhaps qualify as the “chart of the century” because it illustrates one of the most remarkable achievements in human history: the 80% reduction in world poverty in only 36 years, from 26.8% of the world’s population living on $1 or less (in 1987 dollars) in 1970 to only 5.4% in 2006. (Source: The 2009 NBER working paper “Parametric Estimations of the World Distribution of Income,” by economists Maxim Pinkovskiy (MIT) and Xavier Sala-i-Martin (Columbia University).

What accounts for this great achievement that you never hear about? AEI president Arthur Brooks explains in the video below, summarized here:

It turns out that between 1970 and 2010 the worst poverty in the world – people who live on one dollar a day or less – that has decreased by 80 percent (see chart above). You never hear about that.

It’s the greatest achievement in human history, and you never hear about it.

80 percent of the world’s worst poverty has been eradicated in less than 40 years. That has never, ever happened before.

So what did that? What accounts for that? United Nations? US foreign aid? The International Monetary Fund? Central planning? No.

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.

I will state, assert and defend the statement that if you love the poor, if you are a good Samaritan, you must stand for the free enterprise system, and you must defend it, not just for ourselves but for people around the world. It is the best anti-poverty measure ever invented.
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Old 01-04-14, 04:14 PM
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Re: The greatest achievement in human history, and you never hear about it

My god what a moronic article.
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Old 01-04-14, 04:45 PM
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Re: The greatest achievement in human history, and you never hear about it

" “Commerce [and] entrepreneurial capitalism take more people out of poverty than aid. We need Africa to become an economic powerhouse.”" Well known capitalist pig Bono.

http://blog.independent.org/2013/08/...erty-than-aid/

A rising tide lifts all ships. I love how some people now point to the 'wealth gap' increasing as a sign of evil and failure, without acknowledging that if Person A's wealth goes up 200%, and Person B's wealth goes up 150% percent (just making numbers up), Person B's wealth still went up 150%. As many good things and good people as there are out there, I think it is unfortunately human nature to prefer Person A and B to both go up 0% than for Person A to go up twice as much as Person B went up.
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Old 01-04-14, 05:49 PM
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Re: The greatest achievement in human history, and you never hear about it

Person A's wealth goes up 200%. Person B's wealth goes up 150%. Cost of living goes up 175%. Statistics are fun.
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Old 01-04-14, 05:54 PM
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Re: The greatest achievement in human history, and you never hear about it

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Old 01-04-14, 05:55 PM
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Re: The greatest achievement in human history, and you never hear about it

I have no problem with that argument, that's a fine and valid argument. But the fact that Person A goes up 200% is a red herring to that argument.
If I get a raise, and someone else gets more of a raise for doing more, I have no problem with that. Bill Gates does (did) more than me.
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Old 01-05-14, 12:38 AM
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Re: The greatest achievement in human history, and you never hear about it

Originally Posted by dtcarson View Post
" “Commerce [and] entrepreneurial capitalism take more people out of poverty than aid. We need Africa to become an economic powerhouse.”" Well known capitalist pig Bono.

http://blog.independent.org/2013/08/...erty-than-aid/

A rising tide lifts all ships. I love how some people now point to the 'wealth gap' increasing as a sign of evil and failure, without acknowledging that if Person A's wealth goes up 200%, and Person B's wealth goes up 150% percent (just making numbers up), Person B's wealth still went up 150%. As many good things and good people as there are out there, I think it is unfortunately human nature to prefer Person A and B to both go up 0% than for Person A to go up twice as much as Person B went up.


Thanks for the Bono quote. And your math proves that complaining about income inequality doesn't make any sense.


.


Originally Posted by Hokeyboy View Post
Person A's wealth goes up 200%. Person B's wealth goes up 150%. Cost of living goes up 175%. Statistics are fun.
We're talking about inflation-adjusted income going up.


.



Originally Posted by Jason View Post


Yes. Bill Gates owns billions of dollars in stock in the company that he created. He also created good paying jobs for thousands of people, and computer software for millions of people. Of course he's going to have magnitudes more wealth than someone who bags groceries for a living. Wealth is not a zero sum game. Gate's success does not make other people worse off.

As long as people are free to spend their money on the goods and services that they want, then the people who provide those goods and services will become way richer than everyone else.

Last edited by grundle; 01-05-14 at 12:44 AM.
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Old 01-05-14, 12:51 AM
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Re: The greatest achievement in human history, and you never hear about it

The problem is that in America over the last few decades, Person B's wealth has not gone up 150% while Person A's wealth went up 200%. Person A's wealth has gone up hundreds of percent while Person B's wealth has most likely declined.
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Old 01-05-14, 12:52 AM
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Re: The greatest achievement in human history, and you never hear about it

Also, what kind of bizarro alternate reality do grundle and Mark J. Perry live in where they "never hear about" free market capitalism?
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Old 01-05-14, 01:48 AM
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Re: The greatest achievement in human history, and you never hear about it

A person living near the poverty line in America in 2014 has it better than 99.9% of all humans that have ever lived. They live longer lives and have better access to food and amenities than almost anyone born before a certain date in time.
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Old 01-05-14, 07:39 AM
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Re: The greatest achievement in human history, and you never hear about it

Right, people today have cars even if poor. What king ever had that? I don't get why normal people defend the rich getting more of the percentage of wealth. It is not a good thing. Look at places like Brazil. Is that what we are heading towards? It sure seems that way to me.
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Old 01-05-14, 08:23 AM
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Re: The greatest achievement in human history, and you never hear about it

I really hate the term "distribution" of wealth. It implies that there is a finite amount of "wealth" and when one person takes more than their "fair share" of it, it means that somebody else gets less.
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Old 01-05-14, 12:05 PM
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Re: The greatest achievement in human history, and you never hear about it

It amazes me that someone could be so ignorant and naive to think that things like the UN, foreign aid, or the IMF have nothing to do with free trade or globalization.
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