{"id":890,"date":"2002-08-16T01:24:59","date_gmt":"2002-08-16T08:24:59","guid":{"rendered":"http:\/\/mossback.org\/archives\/2002\/08\/the-poor-get-richer-too\/"},"modified":"2002-08-16T01:24:59","modified_gmt":"2002-08-16T08:24:59","slug":"the-poor-get-richer-too","status":"publish","type":"post","link":"https:\/\/bennett.com\/blog\/2002\/08\/16\/the-poor-get-richer-too\/","title":{"rendered":"The poor get richer too"},"content":{"rendered":"<p>\t\t\t\t<a href=\"http:\/\/www.dynamist.com\/scene.html\">Virginia Postrel<\/a> has a cool column in the NY Times titled <a href=\"http:\/\/www.nytimes.com\/2002\/08\/15\/business\/15SCEN.html\">The Rich Get Rich and Poor Get Poorer. Or Do They?<\/a> that takes apart the anti-capitalist claim about globalization ransacking the Third World. It&#8217;s not really so:<\/p>\n<blockquote><p>In 1970, global income distribution peaked at about $1,000 in today&#8217;s dollars, a common measure of poverty ($2 a day in 1985 dollars). In 1998, by contrast, the largest number of people earned about $8,000 &#8212; a standard of living equivalent to Portugal&#8217;s.<\/p><\/blockquote>\n<p>The biggest change in the picture of global poverty has come from India and China, where a genuine middle class has developed.<\/p>\n<p>Postrel draws from <a href=\"http:\/\/www.columbia.edu\/~xs23\/papers\/GlobalIncomeInequality.htm\">the work<\/a> of brilliant economist <a href=\"http:\/\/www.columbia.edu\/~xs23\/home.html\">Xavier Sala-i-Martin<\/a>. His web site is worth a visit.<\/p>\n<p>Story courtesy of <a href=\"http:\/\/www.instapundit.com\/\">Glenn Reynolds<\/a>.\t\t<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Virginia Postrel has a cool column in the NY Times titled The Rich Get Rich and Poor Get Poorer. Or Do They? that takes apart the anti-capitalist claim about globalization ransacking the Third World. It&#8217;s not really so: In 1970, global income distribution peaked at about $1,000 in today&#8217;s dollars, a common measure of poverty &hellip; <a href=\"https:\/\/bennett.com\/blog\/2002\/08\/16\/the-poor-get-richer-too\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;The poor get richer too&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[16],"tags":[],"class_list":["post-890","post","type-post","status-publish","format-standard","hentry","category-politics"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pbifyw-em","_links":{"self":[{"href":"https:\/\/bennett.com\/blog\/wp-json\/wp\/v2\/posts\/890","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bennett.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bennett.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bennett.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bennett.com\/blog\/wp-json\/wp\/v2\/comments?post=890"}],"version-history":[{"count":0,"href":"https:\/\/bennett.com\/blog\/wp-json\/wp\/v2\/posts\/890\/revisions"}],"wp:attachment":[{"href":"https:\/\/bennett.com\/blog\/wp-json\/wp\/v2\/media?parent=890"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bennett.com\/blog\/wp-json\/wp\/v2\/categories?post=890"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bennett.com\/blog\/wp-json\/wp\/v2\/tags?post=890"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}