What it means to be poor by global standards

Food a Much Greater Share of Family Budgets in India Than in U.S.

The share of the global population that is poor plunged from 29% in 2001 to 15% in 2011, elevating the living standards of 669 million people, according to a new Pew Research Center analysis of the most recently available data. The magnitude of this decline seems to be without precedent in the past two centuries.

In the Pew Research study, anyone living on $2 or less daily is considered poor. (Figures are expressed in 2011 prices and purchasing power parities.)

But what exactly does it mean to live on $2 per day? And how does that compare with the …read more

Source: Pew Research

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