POVERTY REDUCTION

Poverty has historically been accepted as inevitable as non-industrialized economies produced very little while populations grew almost as fast making wealth scarce. Poverty reduction, or poverty alleviation, has been largely as a result of overall economic growth.Food shortages were common before modern agricultural technology and in places that lack them today, such as nitrogen fertilizers, pesticides and irrigation methods.The dawn of industrial revolution led to high economic growth, eliminating mass poverty in what is now considered the developed world. World GDP per person quintupled during the 20th century.In 1820, 75% of humanity lived on less than a dollar a day, while in 2001, only about 20% do.