Stalled Progress in Reducing Poverty: A Review of 1995-2015 Achievements
How the world’s poor stopped catching up 🔗
Progress in closing the gap between rich and poor countries, which was notable from around 1995 to 2015, has stalled. This period saw significant improvements in GDP, reductions in extreme poverty, and advancements in public health and education. Critics often focus on the negative aspects of globalization and the financial crisis during this time, but the achievements in reducing poverty and improving health and education define this era.
What significant improvements occurred between 1995 and 2015 for poor countries?
During this period, there were notable advancements in GDP, a decrease in extreme poverty, and enhancements in global public health and education, including reduced malaria deaths and increased school enrollment.
How do critics view the period of progress for poor countries?
Critics tend to emphasize the negative impacts of capitalism and the global financial crisis, arguing that these should define the era instead of acknowledging the significant achievements in poverty reduction and public health.
What is suggested to restart progress for the world’s poor?
The article suggests that liberalization could be a way to restart the progress that has stalled since 2015.