As for poverty, almost one in five American children are in poverty. According to Prime Minister Blair, in the United Kingdom, the number is one in three. Using 40 percent of median income as a standard measure for poverty, the most recent available data tells us that the overall poverty rate in the United States is approximately 14 percent. In the United Kingdom, the rate is 15 percent. So notwithstanding today's prosperity, there is still poverty in the midst of plenty throughout the developed world.
Poverty is an even bigger calamity in the developing world.
That's why debt relief must continue to be a priority. Instead of demanding every last Dollar, Pound, Franc, Deutchmark and Guilder in interest payments, we will all be better off if poor countries invest their limited resources in schools, infrastructure and jobs. Technology and the Internet are changing what sells and why. Workers or companies that stand pat are simply going to be run over. Part of the solution is worker retraining.