News for hackers. Stuff that matters.
Re:The Real Adam Smith by briandear on Thursday January 18, 2018 @08:58AM (#16177030)
There is also substantial evidence that it has. The poor in America are richer and have higher living standards than the poor of less-globalized places. Absolute poverty in developed countries is far lower than at any possible by in history. In fact the same could be said for absolute poverty globally. And that, is a direct result of globalization.
Re:The Real Adam Smith by RobertoG on Thursday January 18, 2018 @09:29AM (#16177230)
>"Absolute poverty in developed countries is far lower than at any possible by in history. In fact the same could be said for absolute poverty globally. And that, is a direct result of globalization."

Actually that it's not true. Absolute poverty better global numbers are due mainly to China. A little also to India. For the rest, it could be argue that they are equal or, in some cases worst.

You could argue that China have benefited from globalization, and, in a way is true. Except that their strategy is almost the opposite of the strategy recommended by the champions of globalization (IMF, etc..)

Re:The Real Adam Smith by wu-ikkyu on Thursday January 18, 2018 @09:38AM (#16177300)
What do you mean by "absolute poverty"?

While the proportion of people living in poverty may have been getting lower, the absolute number of people living in poverty has never been higher.

3 billion people live in poverty. This is the same as the total global population in 1960.

https://www.dosomething.org/us/facts/11-facts-about-global-p...

Re:The Real Adam Smith by tonyedgecombe on Thursday January 18, 2018 @10:23AM (#16177724)
The UN defines "absolute poverty" as:

A condition characterised by severe deprivation of basic human needs, including food, safe drinking water, sanitation facilities, health, shelter, education and information. It depends not only on income but also on access to services.

The percentage of people at this level has been falling for a long time and is now less than 10% of the global population, nowhere near 3 billion.

Re:The Real Adam Smith by mistermann on Thursday January 18, 2018 @09:12AM (#16177110)
Was it globalism that made them richer? They weren't already richer pre-globalism (say, 15 to 20 years ago)?
[dead]
Re:The Real Adam Smith by JoeAltmaier on Thursday January 18, 2018 @09:22AM (#16177179)
Extreme. The poor can refer to the bottom quintile of socioeconomic class. We don't have to jump to the bottom tenth of a percent. In that view, the comment is valid. The bottom earners in America earn more than most people on the planet. And have better infrastructure.
Re:The Real Adam Smith by da_chicken on Thursday January 18, 2018 @10:01AM (#16177522)
The bottom quintile had a mean household income of just $12,000 in 2016 (https://www.advisorperspectives.com/dshort/updates/2017/09/1...). I'm struggling to understand how such a household could afford to pay rent on $1,000 a month, let alone afford "luxuries" such as doctor visits. And, yes, they would qualify for SNAP assistance, but in my (second hand) experience it's not much and decreases faster than income increases (i.e., and increase in monthly salary of $x/mo results in a loss of food assistance greater than $x/mo).
[dead]
Re:The Real Adam Smith by JoeAltmaier on Thursday January 18, 2018 @09:51AM (#16177432)
Ok, done. 15% are 'food insecure' which is a broad range including 'skip a meal sometimes'.

15% worldwide live on less than 1.25 a day. So again, comparing America's poor with the world is like night and day.

Re:The Real Adam Smith by YPCrumble on Thursday January 18, 2018 @10:05AM (#16177557)
I'll take your response as agreeing with me that saying that one tenth of one percent of Americans are hungry was completely and utterly wrong :).
Re:The Real Adam Smith by JoeAltmaier on Thursday January 18, 2018 @10:13AM (#16177621)
If only that had been said. It was the trifecta "hungry, homeless and diseased" that was referenced.