The editors of the Washington Post lament that the response to the COVID-19 pandemic is impoverishing the world:
IT IS NO exaggeration to say that the years since the Cold War’s end have been something of a golden age for poverty eradication around the world. Thanks in part to reforms in China and India, as well as direct investment and aid from developed countries, economic growth has reduced the share of the world’s population living in extreme poverty — defined by the World Bank as an income of $1.90 per day or less — from 36 percent of the world’s population to 9.2 percent in 2017.
Now, tragically, the deep global recession due to the coronavirus pandemic has brought at least a temporary halt to the progress. The World Bank announced Wednesday that its latest estimates show a likely increase of 88 million to 115 million people to the ranks of the world’s poorest by the end of 2020. Accordingly, between 703 million and 729 million people will be trying to get by on $1.90 or less per day, in contrast to the institution’s pre-pandemic estimate of 615 million. This is a bleaker picture than the one presented in a recent Gates Foundation report, which showed that extreme poverty would grow by 37 million people. The main point, though, is that both sources show the numbers headed in the wrong direction — backward.
I have been warning of this for months but the editors are characterizing the situation incorrectly. COVID-19 has not halted the progress against poverty. What has had that effect is the strategy of lockdowns, particularly by the richer countries of Europe and North America, to slow the spread of the virus. If we want to reduce the impact of that strategy on the poor countries of the world, the best thing we can do is avoid returning to the lockdowns of six months ago and fully reopen our economy as quickly as possible.
While I’m on the subject here are the measures I think are most needed to end world poverty:
- End U. S. agricultural subsidies
- Reduce or eliminate the dependency of U. S. corporate supply chains on China
- Better government in the global South
Increased food aid might help in the short run but it won’t do anything to end poverty in the long run.






