Does economic growth reduce poverty?

posted by
April 19, 2011
Adam Smith Institute
by Sam Bowman  
Posted in Commentary

"It’s quite misleading to claim that Irish economic growth didn’t reduce poverty. The OECD uses a relative definition of poverty -- the 'percentage of persons living with less than 50% of median equivalised household income.' Poor people in Ireland (and Belgium) are a lot less poor than they were thirty years ago with regard to the options they have available to them. The gap between them and the rich might be wider, but this matters less to most people than their life expectancies, economic security levels, and other absolute values." (04/19/11)  

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