Exactly 42 years ago this week, Ronald Reagan stood in a grand hall at the University of South Carolina, confidently telling new graduates that ‘[there] are no such things as limits to growth, because there are no limits on the human capacity for intelligence, imagination and wonder’. Since that moment, the world’s GDP has increased eight-fold in real terms and four-fold per capita. Extreme poverty, which was experienced by 40% of the human race when Reagan made that address, is now experienced by less than 8% of the global population. An extra decade has been added to global average life expectancy.
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