id:: 6600f6e8-66b6-4dad-8f2d-54e177acc35d
“A dollar today, no matter how heroically adjusted for inflation, buys far more betterment of life than a dollar yesterday. It buys things that didn’t exist, like refrigeration, electricity, toilets, vaccinations, telephones, contraception, and air travel, and it transforms things that do exist, such as a party line patched by a switchboard operator to a smartphone with unlimited talk time.” (Steven Pinker, Enlightenment Now)
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Similarly even though a dollar can buy more now than it could before, even adjusting for inflation, does that alone sufficiently indicate a decrease in poverty? To some degree I think it does. It appears to me that you would rather be a person born today with $1 than a person born with the inflation adjusted equivalent 100 years ago.