How the Poorest Nation in the World Lifted Tens of Millions Out of Poverty
Free markets, not international aid, are the key to defeating poverty.
Most readers probably don’t know what the poorest nation was in the 1980s. I didn’t until I read Rainer Zitelmann’s new book, How Nations Escape Poverty.
Today that country is no longer poor. Its poverty rate is just 4 percent and it is one America’s top-ten trading partners. From 1990 to 2022, its per capita GDP (in 2017 dollars) increased more than fivefold, surging from $2,100 to $11,400. Its primary exports, which were once coffee and coconuts, are computers, mobile phones, and other electronics.
To find out what country I’m referring to and how it lifted itself out of extreme poverty, read my latest article in The Daily Economy at AIER.
Interesting/ didn’t know that.
💡 Thank you