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Poverty Thrives Amid Unprecedented Prosperity

May 27, 2008
clipped from www.ipsnews.net
Global poverty is thriving — rather ironically — amidst one of the most prosperous times in human history.
Kul Chandra Gautam, a former assistant secretary-general and deputy executive director of the U.N. children’s agency UNICEF, points out that world economic output was never more prodigious: last year it hit the 60-trillion-dollar mark.

At this time of unprecedented global prosperity, in which someone becomes a new billionaire every second day, “We have the contrasting situation of nearly one billion people living on less than a dollar a day and 800 million going to bed hungry every night,” he added.

And according to the U.S.-based Forbes magazine, the number of billionaires worldwide reached 1,125 this year, a staggering increase from 179 in 2007.

They emerged not only from rich countries such as the United States, Germany and Japan but also from developing countries, such as Egypt, Nigeria, Indonesia, Malaysia, Brazil, Belize, China, India, Mexico and Venezuela.
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