Friday, January 31, 2020

Poverty Went Down For The Average American In The 20th Century, But Why?

The last twenty years have been a little disappointing for the average worker. Wages are flat when you
take inflation into account, and prices for life’s essentials, like rent and healthcare, have been going up.
But despite the recent blip in the historical record, poverty rates fell for most of the twentieth century, and
they’ll probably continue to fall in the future. 


The question on the minds of many people, though, is why? What was it that allowed poverty rates to go
down so sharply in the years following WWII? 


As you can see from the following infographic, there’s something of a debate on the subject. Some
people are firmly in the camp that says that it is the market economy that produced the wealth that
allowed people to work their way out of poverty to a semblance of financial success. Others argue that it
was the action of the government that brought up the standard of living among the poorest members of
our society with a variety of programs. 


The “War on Poverty” began in the 1930s with a range of policies enacted by President Roosevelt
designed to reduce “want.” Many of the programs involved trying to get people into employment through
public works. 


The modern era of social security and welfare began with Lyndon B Johnson, who introduced the Food
Stamp Act and Economic Opportunity Act of 1964, which offered less well off Americans both food and a
bunch of work-related training. 


Are you interested in why poverty fell so much? Read on to find out more. 


Infographic by Norwich University

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