Imagine a world where a significant portion of the population, referred to as the "bottom billion," is stuck in poverty, falling further and further behind as the rest of the world prospers. This unfortunate trend began in the 1970s and has only accelerated since then. While many countries have seen their incomes grow rapidly, the bottom billion's income has declined, leaving them with living standards reminiscent of the 14th century, despite living in a 21st-century economy.

Most of the bottom billion live in Africa, but countries like Haiti and North Korea are also stuck in this predicament. It's crucial to remember that while reducing poverty is important, we can't overlook the vital role of economic growth in pulling societies out of poverty. Economic growth benefits everyone, not just the wealthy. For instance, Cuba is an example of a society that is equal but stagnant, a place most of its citizens would leave if given the chance. To catch up with global living standards, these countries need to grow at a much faster rate.

The issues faced by the bottom billion might seem straightforward, but the solutions are far from simple. They require a coordinated effort across government agencies that are used to working independently. Aid agencies alone can't bring about the comprehensive reforms needed. Instead, we need to use policy instruments intelligently to encourage change from within these societies. With enough effort and a sense of urgency, it's possible for these countries to escape these traps. However, if we continue with business as usual, the bottom billion will continue to fall behind.