CONSPICIOUS UNDERCONSUMPTION

"The World Bank said on Tuesday more people are living in extreme poverty in developing countries than previously thought as it adjusted the recognized yardstick for measuring global poverty to $1.25 a day from $1. The poverty-fighting institution said there were 1.4 billion people -- a quarter of the developing world -- living in extreme poverty on less than $1.25 a day in 2005 in the world's 10 to 20 poorest countries. Last year, the World Bank said there were 1 billion people living under the previous $1 a day poverty mark." (Yahoo News, 23 August) RD