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Tripitaka comments on The Triumph of Humanity Chart - Less Wrong Discussion
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What happened in 1970 that poverty started sharply declining?
Seems to be mostly Asia getting richer. Hans Rosling gives a very impressive talk with amazing visuals about that here: https://www.youtube.com/watch?v=hVimVzgtD6w You can also play with the data for yourself http://www.gapminder.org/world