For thousands of years before the Industrial Revolution, per capita incomes of humanity were largely stagnant with only some small variations.
Life expectancy was low. Poverty, deprivation, and disease were widespread. During this period, many eminent spiritual leaders emerged who, among other things, called for help to the poor and charity in one form or another. There were efforts to do so by many followers of religious and spiritual traditions. But for the world as whole, poverty and deprivation persisted on a large scale. Spirituality to the extent it could be practised, even with most outstanding prophets, made only a small impact on the quality of life of humanity.
Some two hundred years ago, science and technology began to transform material conditions of the world. Between 1820 and 1998, per capita income of the world increased nearly ten times and for some countries, almost twenty times. This miracle of science and technology combined with social and political transformation achieved in several countries led to almost complete elimination of poverty and deprivation that so many spiritual leaders had called for but unsuccessfully. With continued progress in science and technology combined with enlightened socio-economic policies, we may well witness the end of poverty during this century.
Denne historien er fra December 16 - 31, 2018-utgaven av BUSINESS ECONOMICS.
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Denne historien er fra December 16 - 31, 2018-utgaven av BUSINESS ECONOMICS.
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Elections 2024: Illusion & Reality
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Macron speaks on Europe's economic fragility
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It is quite incredible to see things of interest happen with the blessings of the divine trio
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The battle for sustainability: Earth Day's message of 'Planet vs. Plastics
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Mother Teresa International Award 2024: Celebrating Humanity and Service
The Mother Teresa International Award, a prestigious honor recognizing individuals dedicated to serving humanity, will host its 2024 ceremony in Dubai, United Arab Emirates.
Can India get out of the middle income trap?
In the mid-1980s, international financial institutions moved away from calling their member countries as poor and rich countries, or as developed and less developed countries.
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