IslamicFinance.de

One of Cullen Roche's major criticisms of Thomas Piketty’s blockbuster book on wealth inequality was that it didn’t highlight the global effect of inequality well enough. For instance, it didn’t note that global poverty has declined substantially over the last 75 years. He wrote that in a global sense, one could argue that the rise of the developed world and its accompanying wealth explosion has been an instrumental driver in helping to bring the emerging world out of substantial poverty. Over 1 billion people have been brought out of extreme poverty in the last 20 years alone. Capitalism has plenty of weaknesses, but the fact is that this system has also done a tremendous amount of good for the world.