“Over the long run, global inequality has declined dramatically across many dimensions as living standards have improved. While a substantial reduction in worldwide inequality occurred between 1990 and 2021, the last two years in that range reveal far slower progress, reflecting pandemic-era stagnation. These findings underscore the vital role of undisturbed markets in sustaining the trajectory of human progress, as well as the vulnerability of political liberty in times of perceived crisis. The Inequality of Human Progress Index reveals that pandemic-driven shocks to the global economy slowed advances, halting the momentum of earlier growth across many measures of human well-being and stalling progress toward the world becoming better off and more equal…

The pandemic’s disruption to globalization, trade, and other forms of economic activity measurably slowed the pace of human progress as captured by the Human Progress Index. However, the updated HPI and Inequality of Human Progress Index also demonstrate the remarkable resilience of the modern world. Even amid significant disruptions, on average, only a limited decline has been registered in living standards across most of the HPI’s dimensions.”

From Cato Institute.