With everything going on, it’s easy to get consumed by the prevailing negativity. We all may benefit from a reminder: we are living through one of the most prosperous times in history. A longer-term perspective reveals a balanced story—one of progress, resilience and improvement.

Here are nine ways life is better:

1. Poverty is at historic lows. Just 200 years ago, 85 percent of the world’s population lived in extreme poverty. In 1990, that figure was still around 36 percent. Today, it is less than 9 percent, and 75 percent of the world lives in middle-income countries.¹

2. Life expectancy continues to grow. In 1800, many wouldn’t live past the age of 40. By 1900, the average Canadian life expectancy was just 50 years. Today, it has increased to over 82 years—bringing new meaning to the word “retirement.”²

3. We enjoy modern conveniences. In 1870, the share of homes with electricity was zero. Today, over 99 percent of Canadian homes have access to electricity and running water. In 1954, only 20 percent of Canadian households had a TV; today, over 90 percent do. Globally, over 70 percent of people own a smartphone.³

4. Deaths from disease have significantly declined. In 1900, more than 37 percent of deaths were caused by infectious diseases; today, that figure is around 1.6 percent.⁴

5. Efficiency has improved. Innovations like the washing machine, dishwasher and microwave are often taken for granted, but they’ve saved hours of labour. In 1920, doing laundry could take 11.5 hours per week.5 Today, we can order food, book a ride/taxi, track our health or pay a bill—all via our smartphones.

6. The cost of necessities has fallen. In 1961, Canadians spent over 56 percent of their income on food, shelter and clothing. Today, that has fallen to just over one-third.6

7. We are more wealthy. As household income has increased, baby boomers have become the wealthiest generation in history. Decades of economic growth, combined with appreciating real estate and equity markets, have helped build substantial wealth.7 Canada’s household wealth is at an all-time high and every generation has seen growth in the past year.⁸

8. We are better educated. In 1920, the global literacy rate was about 12 percent; today, it’s over 87 percent. Canada ranks among the highest globally in post-secondary educational attainment.⁹

9. “Luxuries” are more accessible. Consider that in 1950, airline travel was largely out of reach for many; long-distance travel often meant trains or steamships. A flight from New York to London could take up to 15 hours and cost the equivalent of over $8,500 today.¹⁰

A longer-term view reminds us of our progress: Income and quality of life are up; disease and mortality have fallen. Necessities and luxuries are more affordable. Despite current economic challenges, Canada provides a high quality of life, thanks to healthcare, education, safety and personal freedoms. We benefit from clean air and water, political stability, low crime and an inclusive society.

The same may be said for investing: Investors continue to benefit from the long-term growth of the financial markets. Despite recessions, wars, pandemics, bear markets and many other economic disruptions, the S&P/TSX Composite has returned 2,174 percent over the past 50 years—an annualized return of 6.4 percent, or 9.9 percent with dividends reinvested.¹¹ Progress is rarely linear—but it continues! Continue looking forward.

<sup>1. https://www.worldbank.org/en/publication/poverty-prosperity-and-planet; “Factfulness,” H. Rosling, Flatiron Books, April 2018;
2. https://www.statista.com/statistics/1041135/life-expectancy-canada-all-time/;
3. https://www150.statcan.gc.ca/n1/pub/11-402-x/2007/40000/ceb40000_001-eng.htm; (2023) https://www.statista.com/topics/840/smartphones/;
4. https:// www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1310014101;
5. https://www.bls.gov/charts/american-time-use/activity-by-hldh.htm;
6. https://www.fraserinstitute.org/sites/default/files/canadian-consumer-tax-index-2024.pdf;
7. https://money.com/wealthiest-generation-baby-boomers/; https://macleans.ca/society/the-jackpot-generation/;
8. https://financialpost.com/wealth/canadian-households-worth-more-million-2024;
9. https://www.weforum.org/stories/2022/09/reading-writing-global-literacy-rate-changed/; https://gpseducation.oecd. org/CountryProfile?primaryCountry=CAN&treshold=10&topic=EO;
10. $6,400 in 2012 dollars.https://www.cnn.com/travel/article/golden-age-of-air-travel-downsides/index.html;
11. S&P/TSX Composite 3/31/1975 to 4/8/2025.</sup>

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