30/11/2004 11:02:20 am
The World Gets Better, Part IV. In the year 1900, a mere 10-15 per cent of the earth′s population were part of the money-based formal economy. Global GDP was about 1100 billion dollars. In 1950, about 25 per cent (then some 500 million people) were part of the formal economy and GDP was about 4000 billion dollars. In 2000, more than 50 per cent of the total population were part of the global economy and GDP was 42 000 billion dollars. All according to the World Bank.
Time to repeat some basic truths:
1. As market economy spreads, the world gets richer.
2. Of course those pepople who are not part of the global economy have poor living standards, but that is an argument for more global capitalism, not less.
3. Everyone can win at the same time. When one gets rich, it doesn′t mean that another person gets poor. The global economy is growing.