Dr Julius Probst, Doctoral Researcher in Economic History, Lund University in Sweden, notes that until quite recently a significant part of the world population has lived under quite miserable conditions – and this has been true throughout most of human history. While globalisation has put some downward pressure on middle-class wages in advanced economies in recent decades, it has also helped lift hundreds of millions of people above the global poverty line – a development that has mostly occurred in South-East Asia.
The following seven facts show how the world has become a much better place compared to just a few decades ago:
1. Life expectancy continues to rise
2. Child mortality continues to fall
3. Fertility rates are falling
4. GDP growth has accelerated in developed countries
5. Global income inequality has gone down
6. More people are living in democracies
7. Conflicts are on the decline
Dr Julius Probst's article 'Seven charts that show the world is actually becoming a better place' shows seven charts that provide evidence supporting the seven facts. Dr Julius Probst also notes that globalisation is the only way forward to ensure that economic prosperity is shared among all countries and not only a select few advanced economies.
Source: The Conversation, 5 January 2019. Read the full article.