I hate to be the bearer of good news, because only pessimists are regarded as intellectually serious, but we're in the 11th month of the most prosperous year in human history. Last week, the World Bank released a report showing that global growth "accelerated sharply" this year to a rate of about 4 percent.

Best of all, the poorer nations are leading the way. Some rich countries, like the United States and Japan, are doing well, but the developing world is leading this economic surge. Developing countries are seeing their economies expand by 6.1 percent this year - an unprecedented rate - and, even if you take China, India and Russia out of the equation, developing world growth is still around 5 percent.

This is having a wonderful effect on world poverty, because when regions grow, that growth is shared up and down the income ladder. In its report, the World Bank notes that economic growth is producing a "spectacular" decline in poverty in East and South Asia. Less dramatic declines in extreme poverty have been noted around the developing world, with the vital exception of sub-Saharan Africa. It now seems quite possible that we will meet the U.N.'s Millennium Development Goals, which were set a few years ago: the number of people living in extreme poverty will be cut in half by the year 2015.

As other research confirms, these rapid improvements at the bottom of the income ladder are contributing to and correlating with declines in illiteracy, child labor rates and fertility rates. The growth in the world's poorer regions also supports the argument that we are seeing a drop in global inequality.

What explains all this good news? The short answer is, this thing we call globalization. Over the past decades, many nations have undertaken structural reforms to lower trade barriers, shore up property rights and free economic activity. International trade is surging. The poor nations that opened themselves up to trade, investment and those evil multinational corporations saw the sharpest poverty declines. Write this on your forehead: Free trade reduces world suffering.

Of course, all the news is not good. Plagued by bad governments and AIDS, sub-Saharan Africa has not joined in the benefits of globalization. Big budget deficits in the United States and elsewhere threaten stable growth. High oil prices are a problem. Trade produces losers as well as winners, especially among less-skilled workers in the developed world.

But especially around Thanksgiving, it's worth appreciating some of the things that have gone right, and not just sweeping reports like the one from the World Bank under the rug.

Just once, I'd like to see someone like Bono or Bruce Springsteen stand up at a concert and speak the truth to his fan base: that the world is complicated and there are no free lunches. But if you really want to reduce world poverty, you should be cheering on those guys in pinstripe suits at the free-trade negotiations and those investors jetting around the world. Thanks, in part, to them, we are making progress against poverty. Thanks, in part, to them, more people around the world have something to be thankful for.

DAVID BROOKS is a columnist for the New York Times.