Consider that in 1800, by a $1.90 per day standard, 81 percent of people worldwide were in poverty. One-hundred-ninety years later, only 44 percent were in poverty — a reduction of less than one-fifth of a percentage point per year. By contrast, in the 28 years since 1990, the rate of $1.90 per day poverty fell by more than 1.2 percentage points per year to less than 10 percent.
Economic growth is paying for the R&D and investment in renewability/sustainability tech that will keep civilization going indefinitely.
torte-petite t1_j551lwf wrote
Reply to comment by Fiskifus in The race to make diesel engines run on hydrogen by FDuquesne
prosperous for basically the whole of mankind:
Consider that in 1800, by a $1.90 per day standard, 81 percent of people worldwide were in poverty. One-hundred-ninety years later, only 44 percent were in poverty — a reduction of less than one-fifth of a percentage point per year. By contrast, in the 28 years since 1990, the rate of $1.90 per day poverty fell by more than 1.2 percentage points per year to less than 10 percent.
Economic growth is paying for the R&D and investment in renewability/sustainability tech that will keep civilization going indefinitely.