The economic effect is occurring. See the chart towards the end of the article.
"From another perspective, the story of the last ten years has been one of huge success. At the time of the crash, 19 per cent of the world’s population were living in what the UN defines as absolute poverty, meaning on less than $1.90 a day. Today, that number is below 9 per cent. In other words, the number of people living in absolute poverty has more than halved, while rich-world living standards have flatlined or declined."
The proposal is to make the effect explicit rather that political populism of trying to reverse the current trend for those at point B in the chart.
"From another perspective, the story of the last ten years has been one of huge success. At the time of the crash, 19 per cent of the world’s population were living in what the UN defines as absolute poverty, meaning on less than $1.90 a day. Today, that number is below 9 per cent. In other words, the number of people living in absolute poverty has more than halved, while rich-world living standards have flatlined or declined."
The proposal is to make the effect explicit rather that political populism of trying to reverse the current trend for those at point B in the chart.