Many countries around the world have seen their economies grow and enjoy the improved nutrition, health care, comfort, and consumer goods that go along with growth. Other countries, locations, and people groups have been left behind.
Why should we care about growth?
Consider a billion people struggling in India while a billion people in China have a per capita GDP today that is equal to what we had in the U.S. back in 1972.
(Cross-post from my other blog, Nonprofit Update. The question I’ll ask here: Is it moral that the policies that let a billion people move out of grinding poverty in one place were not applied to lift up a billion of their next-door neighbors?)
The Economist explained the issue this way on 5/24:
The increase in (China’s) average annual GDP per head from around $300 to $6,750 over the period (of the last 30 years) has not just brought previously unimagined prosperity to hundreds of millions of people, but has also remade the world economy and geopolitics.
That’s great. I am sincerely happy for the people of China. The next sentence asks us to consider a billion people who got left behind:
India’s GDP per head was the same as China’s three decades ago. It is now less than a quarter of the size. … India’s economy has never achieved the momentum that has dragged much of East Asia out of poverty.
So what, I hear some say.
Consider the human cost: (more…)