Sunday, July 16, 2017

‘The best story in the world today’ is about free enterprise, not antipoverty programs

This week, the World Bank announced the historic news that extreme global poverty will drop below 10 percent this year for the first time in recorded history.

Self-congratulatory enthusiasm, typical among global elites, has ensued. In a press release about the news, the Bank’s president Jim Yong Kim called it “the best story in the world today,” and said, “These projections show us that we are the first generation in human history that can end extreme poverty.” By “we,” Mr. Kim is of course referring to elites in the “international community.”

Is Kim right? Was it the elites or was it something else?



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