MINNEAPOLIS/MILAN/MUNICH — In 1990, more than one-third of the global population lived below the World Bank's extreme poverty line ($2.15 a day). Since then, the share has fallen below 10 percent — a remarkable and inspiring achievement. But barely scraping by falls far short of what impoverished people aspire to.
To this end, the McKinsey Global Institute (MGI) has introduced the concept of an "empowerment line." Building on the work of development economists, this threshold represents the income required to access essentials like food, shelter, health care, education, water, transportation and energy while also saving enough to weather unexpected emergencies.
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