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Angus Deaton

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1: The big thinkers say no.

“Money has never made man happy, nor will it,” Ben Franklin once said.

Centuries before, Aristotle wrote: “The life of money-making is one undertaken under compulsion, and wealth is evidently not the good we are seeking; for it is merely useful and for the sake of something else.”

More recently, Maya Angelou observed: “Don’t make money your goal. Instead pursue the things you love … continue reading

This week we are exploring the reasons behind the incredible drop in worldwide extreme poverty: from 90% in 1800 at the beginning of the Industrial Revolution to less than 10% today.  

And falling.

The United Nations has set a target of “ending extreme poverty for all people everywhere” by 2030.  

What accounts for this incredible drop?

Yesterday, we looked at three reasons outlined by Steven Radelet, author of The … continue reading