Reminded me of this:http://theconversation.com/seven-charts-that-show-the-world-is-actually-becoming-a-better-place-109307 …
If you use the same threshold for the whole period and include all sources of income, the US poverty rate fell from 19.5 percent in 1963 to 2.3 percent in 2017. http://ftp.iza.org/dp12855.pdf
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It also shows that the great majority of that reduction happened before 1980
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I think that might be misleading: dropping from 19% to about 6% (pre 1980) was approximately a 60% drop and then dropping from 6% to 2% (post 1980) is also about a 60% drop. As it continues to fall, the drops will continue to look smaller and smaller relative to previous eras.
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most effective way to decrease poverty. Change the parameters of what poverty is. Honestly markets have become way more efficient but for all the deflation in certain areas there has also been huge inflation in other areas. So is there really less poverty ?
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Right now in N.C. I have never seen so much despair and poverty in my lifetime. Heartbreaking to see the despair.
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What is poverty? My guess is that income is in the mix, but that individual consequences of cultural practices other than those of finance and economics are critical to the problem’s statement and solution
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Interesting. This shows that the poverty rate did not drop since the 70s, unless one includes programs such as food stamps, medicaid and medicare − collectively referred to as "other sources of income".
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In real terms ?
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And yet the USA is much wealthier now than in 1963, so why are the poor not sharing in that success? Should that be a goal?
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