What are the causes of the poverty reduction worldwide ?
Ban Ki-moon, Secretary-General of the United Nations, announced in July 2015 very proud the achievement of MDG 1 (Millennium Development Goal 1): While in the year 1990, 50% of the world’s population earned less than US$ 1.25 a day in 2015 it was only 14%.
What are the actual forces which generated this high reduction of poverty: Was it the free market, the globalization (opening up of markets, reduction of tariffs, privatization, the inflow of foreign capital), or was it the the lifting of the ban on ownership, or all of them. The critics of capitalism are more likely to demonstrate the adverse effects of the forces of capitalism. Even if those above mentioned processes were radical, painful and partly unfair it brought ultimately economic growth and prosperity to ermerging and developing countries.
Roland Leithenmayr VfV