© James Ferguson FT
The proportion of human beings living on the margin of subsistence is estimated to have fallen from close to 80 per cent in 1820 to just under 10 per cent in 2018. What makes this decline even more remarkable is that the global population rose from 1bn in 1820 to 7.7bn in 2018. Rising prosperity has also helped double global life expectancy to 71 years. In brief, we have moved from a world in which life was, for the great majority, indeed “nasty, brutish, and short” to something altogether better. (See charts.)