Johan Norberg points out this excellent news:
The number of people in extreme poverty (under $1 a day) has fallen below 1 billion for the first time. Between 1999 and 2004 74,000 people a day rose out of extreme poverty.
Given the high population growth in most areas of poverty this is fantastic.
The numbers living on under $2 a day is falling too, albeit at a slower rate.
Poverty reduction is proceeding at a faster rate than ever before, largely due to the liberalisation of the Chinese and Indian economies. If Africa can stabilise and liberalise then we can look forward to ever increasing prosperity across the world. I doubt poverty will be eradicated in my lifetime (there are too many anti-development movements out there for a start), but the levels of poverty should continue to fall (prompting redefinition of the term poverty no doubt).
