Always keeping the little guy under their bootheels!
Ignorance shrouds capitalism’s profound impact on reducing poverty
It should come as heartening news that 2004 was one of the most prosperous years in history. Not because the U.S. economy grew by a solid 4.3 percent, but because developing countries experienced an explosive 6.1 percent economic growth.
According to a recent study by the World Bank, 2004’s growth reflected “an expansion without precedent over the past 30 years.” Equally encouraging, the report notes that “the rapid growth of developing economies … has produced a spectacular, if not historic, fall in poverty.”
Amazingly, the World Bank report did not get much coverage in our mainstream media. It seems the press was more interested in covering the evils of globalization than in taking notice of how world trade — which grew by an astounding 10.2 percent this year — is driving economic growth.
When Americans do hear about the World Bank, it’s usually because an unruly mob is protesting against it. The protesters are long on rhetoric but short on facts.
sarcasm set to stun/ I never would have guessed that! /sarcasm off
Found @ MuD & PhuD