A time for giving
The holiday season has now passed and a new year is upon us. But the ‘season of giving’ should not fade into the past with 2012. To see why this is the case, consider the following. According to Economist Jeffrey Sachs, a calculation carried out in 2001 revealed that it would have taken $124 billion a year to raise everyone on earth above the absolute poverty line of $1.25 per day per individual. This sounds like a lot of money. But consider that the combined gross annual income of developed nations (the twenty-two members of the Organization for Economic Cooperation and Development) in that year was $20 trillion (with a ‘t’).