Poverty

• Poverty


  A state or condition in which a person or community lacks the financial resources and essentials for a minimum standard of living
• Root Causes of Poverty

  • Lack of education
  • Unequal distribution of resources
  • Discrimination and social exclusion
• Lack of education


  One of the primary reasons for poverty
• Unequal distribution of resources

  Imbalance distribution of resources, including wealth, land, and other assets, monopolized by a tiny group of individuals
• Discrimination and social exclusion


  Can keep people out of social networks and economic possibilities, making it difficult to escape poverty
• Approaches to measuring poverty

  • Income-based measure
  • Multidimensional measures
  • Subjective measure
• Income-based measure

  Calculation of profit or loss, what's left over after subtracting all expenses
• Multidimensional measures

  Reveals policy-relevant insights, able to pinpoint areas of people's lives most impacted by poverty
• Subjective measure


  Based on how people perceive their level of happiness and the quality of their lives
• Inequality


  Unequal distribution of resources, opportunities, and outcomes among individuals or groups
• Addressing inequality is important to eradicate poverty
• Ways to address inequality

  • Increase access to education
  • Provide universal healthcare
  • Implement progressive taxation
  • Promote Gender equality
  • Increase access to affordable housing
  • Implement minimum wage laws
  • Expand social safety nets
  • Invest in infrastructure
  • Address discrimination
  • Support small businesses and entrepreneurship
• Inequality


  Defined as the unequal distribution of resources, opportunities, and outcomes among individuals or groups
• Addressing Inequality

  1. Increase access to education

  2. Provide universal healthcare

  3. Implement progressive taxation

  4. Promote Gender equality

  5. Increase access to affordable housing

  6. Implement minimum wage laws

  7. Expand social safety nets

  8. Invest in infrastructure

  9. Address discrimination

  10. Support small businesses and entrepreneurship
• Education


  Gives people the skills and abilities they need to succeed in the workforce and improve their social and economic standing
• Universal healthcare


  Ensuring access to healthcare is crucial to general well-being and productivity regardless of a person's financial situation or social status
• Progressive taxation

  Requires higher-income people to pay a larger percentage of their income in taxes, aiding in reducing income inequality by redistributing wealth to those who need it
• Gender equality promotion


  Implementing policies like equal pay, maternity leave, and accessible childcare can advance gender equality
• Affordable housing access


  Policies promoting access to affordable housing can help reduce poverty and inequality as housing costs may be a significant burden for low-income households
• Minimum wage laws implementation


  Ensuring all workers receive pay sufficient to cover their essential requirements, reducing inequality and poverty
• Social safety nets expansion

  Constructing social safety nets like unemployment insurance, food aid, and cash transfers to support vulnerable people during economic uncertainty to minimize inequality
• Infrastructure investment

  Improvements in infrastructure like high-speed internet, affordable housing, and public transit can help close the gap between urban and rural communities while fostering economic growth
• Discrimination addressing

  Policies addressing discrimination based on factors like race, gender, and sexual orientation can support social justice and more equality
• Support for small businesses and entrepreneurship

  Supporting small enterprises and entrepreneurship can help individuals become less dependent on traditional employment sources, creating economic prospects