Author: Homi Kharas, Brookings Institution

The Organization of Economic Cooperation and Development has just celebrated its 50^th anniversary. Among the many achievements of this group of advanced economies is the unprecedented improvement in the material lives of millions of their citizens.

Between 1960 and 2010, the number of people who had middle class or better living standards in OECD member countries more than doubled from around 400 million to over 900 million. Poverty, by global standards, was essentially eradicated. Read more…