Economist, Princeton University
Appears in 1 story
Nobel laureate, continuing research
In 1820, more than 80% of the world's population lived in extreme poverty. By 2019, that figure had fallen to 8.9% at the then-$2.15/day line—a decline of roughly 0.35 percentage points per year sustained across two centuries. In June 2025, the World Bank adopted 2021 purchasing power parities (PPPs), raising the extreme poverty line to $3.00/day; this revised the 2022 rate upward to 10.5% (838 million people) but projects a decline to 9.9% (808 million) by 2025, continuing the historic trend through post-pandemic recovery.
Updated Feb 5
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