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.