Poverty and its discontents

While nearly 1 billion people still live on less than $1 a day, according to World Bank estimates the incidence of poverty shrunk from 29 percent of global population to 18 percent between 1990 and 2004.

Naturally, there is more than one way to measure poverty, keeping the numbers debate alive. The newest challenge comes from Sanjay Reddy and Camelia Minoiu who ask if the world poverty has really fallen (hat tip to New Economist).

See also the new poverty maps - an effort to understand local conditions in cities, towns and villages normally hidden behind aggregate national indicators.