'The World Bank has released what it refers to as ‘updated’ global poverty estimates. These new numbers are based on a new worldwide price survey and a new benchmark international poverty line of $1.25 2005 PPP which replaces earlier benchmark poverty lines (of $1.08 1993 PPP and $1.00 1985 PPP, both widely referred to as “$1 per day”) corresponding to earlier base years. The revised figures purport to estimate world poverty figures for a range of years since 1981, and thus crucially affect our understanding of the world over the last quarter century of globalization.'