What's happening to the US Economy?
Project Syndicate ( @ProSyn ) 04-07-11 23:11 Trending: "What's Happening to the #US #Economy ?" by Martin Feldstein, @Harvard . http://t.co/Tg3x1DN
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A dollar a day
A dollar a day Owen abroad There seems to be some confusion about what the international definition of poverty actually means. The Millennium Development Goal is to halve, between 1990 and 2015, the number of people living in extreme poverty. The poverty line was originally defined as living on $1.08 a day (usually referred to as 'dollar a day' poverty). In 2008 it was recalibrated to $1.25 a day. About 1.4 billion people live below this poverty line: that's about a quarter of the people in developing countries. If you have traveled in a developing country, you may have noticed that some things seem really cheap. Perhaps that bus journey only cost you 10 cents, or you remember buying beer for 30 cents. It is easy to assume that the reason people can survive on a dollar a day is that a dollar goes further in developing countries. Apologies for being the bearer of bad tidings, but if that is what you thought you need to know that the poverty ...