Tuesday, January 04, 2005

Capitalism's profound impact on reducing poverty

The San Franciso Chronicle has this to report "It should come as heartening news that 2004 was one of the most prosperous years in history".

According to a recent study by the World Bank, 2004's growth reflected "an expansion without precedent over the past 30 years." Equally encouraging, the report notes that "the rapid growth of developing economies ... has produced a spectacular, if not historic, fall in poverty."

Amazingly, the World Bank report did not get much coverage in our mainstream media. It seems the press was more interested in covering the evils of globalization than in taking notice of how world trade -- which grew by an astounding 10.2 percent this year -- is driving economic growth.

More good news MSM don't want you to know about.

Hat tip Instapundit

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