Bernie Sanders seen nodding in approval.
Foreign aid has its place in the quest to eradicate global poverty, but one economist believes free cash can go pretty far, too.
John McArthur, senior fellow at the Brookings Institution, wrote in a recent blog post that 66 countries in the developing world could theoretically afford to end poverty tomorrow, just by awarding citizens direct cash transfers.
“This would help reach around 185 million people living in extreme poverty, more than a quarter of the world’s current total,” McArthur wrote.
Roughly 650 million people worldwide live on less than $1.90 a day, a standard of living the World Bank defines as “extreme poverty.” Major philanthropic bodies such as the Gates Foundation have spent billions to uplift populations in extreme poverty, typically through disease treatment and prevention.