I agree with most of your post but I do think it’s worth pointing out that the “third world” had rapidly and dramatically come out of poverty.
Something like 45,000 people exit poverty every hour around the world.
30 years ago most of the world lived on less than dollar a day.
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IDK about fiat as the measure, when purchase power is being crushed by central banks. Unless you save in #bitcoin or gold.
e.g. let's go grocery shopping today with a 1940 $100 USD vs. a 1940 1 oz gold coin (about $35 value then). Who gets more groceries today?
this is a first world country. Imagine the inflation for the rest of the world.
Agreed it’s getting far far worse in the west. No disagreement there.
But the 3rd world is improving and getting access to high quality goods and services.
Would a better economic system bring about wealth faster? Probably. Climate related restrictions might be the most shackling to their progress tho.
The overwhelming majority of this is in China and the east Asia, not Latin America Africa or South Asia or the Middle East
