Ending Poverty

by Russ Roberts on July 26, 2005

in Standard of Living

John Kay writes somewhat optimistically under the seemingly callous headline "Only the Poor Can Make Poverty History":

The good news about extreme poverty is that more people have been
lifted out of it in the past 10 years than in any decade in world
history; that this is mainly the result of rapid economic growth in
China and India, which is in turn principally due to internal reform
not external action; that the real contributions of rich countries have
mainly been through trade and investment, not aid; and that world
leaders have played only a minor though constructive role in that
process. The lesson is that world poverty will be ended by the actions
of poor people themselves.

HT to Tim Harford guestblogging at MarginalRevolution for the pointer to Kay’s website.

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