Venezuela’s Ignored Implosion
In recent decades, hundreds of millions of people (mainly in Asia) have, by their own ingenuity and with the infusion of at least a modicum of freedom to pursue their livelihoods, climbed out of entrenched poverty. The desperately poor as a percentage of global population have reached unprecedented lows. This is the very good news associated with the occasional problems of globalization.
And it’s quite a triumph, though there is still no shortage of economic misery, and even cases of a descent or return to widespread indigence and starvation. Life is complicated, but there are reasons for underdevelopment or economic collapse.