A growing body of #literature argues that the #WorldBank ’s PPP-based method has a major empirical limitation: it does not account for the cost of meeting basic needs in any given context.
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Scholars have recently developed a more accurate method for measuring extreme #poverty. This is done by comparing people’s #incomes to the prices of essential goods (specifically #food, #shelter, #clothing & #fuel) in each country.
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This approach is known as the “basic needs #poverty line” (BNPL), & it more closely reflects what the original concept of extreme poverty was intended to measure.
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The BNPL data indicates that the story of global #poverty over the past few decades is more complex – & more troubling – than we previously understood. There are three major findings.
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First, progress is slower than we thought. Between 1980 & 2011, global extreme #poverty declined by only six percentage points, from 23% to 17%. During the same period, the number of people in extreme poverty actually increased, from 1.01 billion to 1.20 billion.
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Second, #poverty alleviation has not been steady. In the 1990's the poverty rate increased dramatically, during the period when #neoliberal structural adjustment programmes were imposed on many developing countries.
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