By Andre Damon
July 11, 2015
World Socialist Web Site
Despite significant advances in communications, agriculture and bio-technology over the past 15 years, the overwhelming majority of the world population continues to live in economic privation, according to a report on global incomes published this week by the Pew Research Center.
The report, entitled “A Global Middle Class is More Promise than Reality,” classifies 71 percent of the world population as either poor or low-income, subsisting on less than $10 per day. The report concludes that 84 percent lives on less than $20 per day, or $7,300 per year, an income level associated with “deep poverty” in developed countries.
Only seven percent of the world population lives on what the report calls a “high” income level of more than $50 per day, or $18,000 per year. The great majority of these people live in Europe or America.
In the years…
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