World Poverty Rate Over Last Two Hundred Years

[Azuren]

sc94597 said:

Acevil said:
Also 2 bucks a day in most part of the world, wouldn't buy you a lot in todays age, so I don't know.

It is adjusted for inflation, so in 1820 money 90% of the population was making much less than $2. Basic necessities like food, gas, housing, etc should be similar after adjusting for inflation. Of course, we have many more luxury goods today, and a lot more debt options. 

For example on price of goods; 

 

I feel mousy of those graphs don't also take into account that people in the US used to enjoy a higher  average pay (adjusted for inflation). That's kind of the whole problem with this minimum wage business.