The World Bank president, Jim Yong Kim recently claimed that signs of recovery on the global economy meant there was now an opportunity to create a world free from the strain of poverty by 2030.
Extreme global poverty could be eradicated by the end of the next decade.
Although Kim and the World Bank are arguably too focused on income and see economic growth as an end in itself, a critique typical of the World Bank, similar claims to end poverty within this generation are presented in a study by Oxford University’s poverty and human development initiative.
The report predicts that countries among the most impoverished in the world could see acute poverty eradicated within 20 years, if they continue at present rates.
The study comes after the UN’s latest development report, which stated that poverty reduction drives in the development world were exceeding all expectations. It says
The world is witnessing an epochal ‘global rebalancing’ with higher growth in at least 40 poor countries helping lift hundreds of millions out of poverty and into a new ‘global middle class’. Never in history have the living conditions and prospects of so many people changed so dramatically and so fast.
As articulated in an article by the Guardian
The bright global picture is the result of international and national aid and development projects investing in schools, health clinics, housing, infrastructure and improved access to water.
These improvements have not been picked up in the past when poverty has been measured strictly in income terms without taking into account other factors, such as health, education and living conditions.
The study of the worlds poorest 1 billion people uses a new measure, the Multidimensional Poverty Index (MPI), which was just updated in the 2013 UN report. It includes 10 indicators to calculate poverty – nutrition, child mortality, years of schooling and attendance, cooking fuel, water, sanitation, electricity assets and a covered floor. Old methods of solely looking at income—living on USD 1.25 a day or less—ignores these other dimensions of deprivation.
This fuller multidimensional index is a positive method for looking at extreme poverty as more than just the question of money, but also of lacks. Lack of employment, lack of food, lack of health care, lack of housing, lack of security. Let us continue to pressure our governments to invest in these above-mentioned development projects and contribute our own personal investment in order to further the eradication of extreme poverty in our generation.