Rule of law can rid the world of poverty

September 26, 2012 6:03 pm
By George Soros and Fazle Hasan Abed

Poverty is on the retreat. Despite the global economic downturn, the World Bank and UN reported this year that the number of people living in extreme poverty has dropped in every region of the world for the first time since record keeping began. Though progress on the UN’s Millennium Development Goals has been uneven, we should be heartened that we have already reached, three years before the target date of 2015, the first of these eight goals – that of halving the number of people still living on less than $1 a day. However, we risk allowing these gains to come undone if we fail to strengthen the rule of law in developing countries.


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