Part 6/11:
Looking back 125 years, the landscape was dire: malnutrition, low wages, and a life expectancy of just 45 years were commonplace. Economic growth has played a crucial role in alleviating many of these ills, particularly post-World War II when advancements led to improved living standards and longer lifespans. Nevertheless, the benefits of growth are not uniformly distributed.
In developing countries, while growth has alleviated some levels of poverty, its costs are vividly on display—traffic congestion, environmental degradation, and health issues related to urbanization serve as stark reminders that growth does not come without its downsides.