The World Bank's New Poverty Estimates: >i>Digging Deeper into a Hole>/i>
The World Bank recently revised its poverty threshold upward by 25 percent. The new definition of being poor is now anyone who lives on the equivalent of what $1.25 a day buys in the United States, up from a mere dollar. But that adds some 400 million people to the poverty rolls in the world. Does the World Bank have it right now? In a word, no, says this author.
Volume (Year): 51 (2008)
Issue (Month): 6 (November)
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