The World is Poorer than we Thought.  According to a new study from the Chen and Ravallion at the World Bank,  the appropriate standard for poverty is not $1 a day, but $1.25 a day.  Therefore the number of  people living in poverty is not less than 1 billion, but about 1.4 billion.   Tim Harford has some interesting thought about defining poverty here.

posted August 29, 2008 at 7:50 a.m.