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November 6, 2010

Best. Decade. Ever.

For all its problems, the first 10 years of the 21st century were in fact humanity's finest, a time when more people lived better, longer, more peaceful, and more prosperous lives than ever before.

Consider that in 1990, roughly half the global population lived on less than $1 a day; by 2007, the proportion had shrunk to 28 percent -- and it will be lower still by the close of 2010. That's because, though the financial crisis briefly stalled progress on income growth, it was just a hiccup in the decade's relentless GDP climb. Indeed, average worldwide incomes are at their highest levels ever, at roughly $10,600 a year -- and have risen by as much as a quarter since 2000. Some 1.3 billion people now live on more than $10 a day, suggesting the continued expansion of the global middle class. Even better news is that growth has been faster in poor places like sub-Saharan Africa than across the world as a whole. -- Opening Gambit: - By Charles Kenny | Foreign Policy

Posted by Vanderleun at November 6, 2010 4:10 PM. This is an entry on the sideblog of American Digest: Check it out.