The number of extreme poor has dropped (and that trend will continue)

This should be front-page news. Laurence Chandy and Geoffrey Gertz of the Brookings Institution calculate (if my math is correct) that the number of people in extreme poverty ($1.25/day or less) dropped 30% (from 1.3 billion to 0.9 billion) in the past six years.

How many poor people are there in the world and how many are there likely to be in 2015?

Our results indicate that the world has seen a dramatic decrease in global poverty over the past six years, and that this trend is set to continue in the four years ahead. We estimate that between 2005 and 2010, the total number of poor people around the world fell by nearly half a billion people, from over 1.3 billion in 2005 to under 900 million in 2010. Looking ahead to 2015, extreme poverty could fall to under 600 million people—less than half the number regularly cited in describing the number of poor people in the world today. Poverty reduction of this magnitude is unparalleled in history: never before have so many people been lifted out of poverty over such a brief period of time. — Poverty in Numbers: The Changing State of Global Poverty from 2005 to 2015

Post to Twitter