“This will be my first lesson to the students on Wednesday: we live in times of historically unprecedented prosperity”
In 2028, the median person on Earth will live on more than $10 a day for the first time in history (figures adjusted for inflation and for differences in purchasing power across countries).
In the last decade alone, the share of people above this threshold has risen from 41.3% in 2016 (3.11 billion) to 48.7% in 2026 (4.03 billion). Think about that for a second: we have pushed nearly 900 million people over this threshold in ten years, around 90 million people a year (slightly above the population of Turkey).
At the very bottom, we have also seen progress, though slower. In 2016, 12.6% of the world lived below $3 a day (947 million people). In 2026, the figure fell to 10.0% (826 million). This fall is harder to achieve because the poorest countries also have fast population growth. As fertility falls there, and I think it is already falling, we will cut poverty much faster.
