Understanding Poverty
Poverty is both an individual as well as a broader social problem. On the individual level, ends are not met which can lead to physical and mental issues. At the societal level, high poverty can damper to overall economic growth and be associated with problems like unemployment, crime, urban decay, lack of education, and detrimental health.
Important points related to poverty are:
- The two main dimensions of Poverty are Hunger and lack of shelter.
- Poverty is a condition where one is barely having basic necessities of life. When parents are not able to send their children to school or a situation where individuals or families can’t afford medical facilities
- Lack of clean water and sanitation facilities is also one of the conditions of poverty.
- Lack of regular job to earn or live a regular life with basic necessities of life.
Check-out: Causes for Widespread Poverty in India
Poverty as a phenomenon is as old as human existence, its significance has evolved over time. Under the traditional mode of economic production, widespread poverty had been accepted as inevitable. This meant, the total output of goods and services, even if equally divided, would still be insufficient for the entire population to lead a comfortable life. However, this was proved wrong by industrialization, as industrialized nations have outputs sufficient to raise the entire population to a comfortable level.
Also Read:
What is Poverty? Meaning, Causes, Measures and FAQs
Poverty definition: When a person is unable to get the minimum necessities of life this situation is known as poverty. Poverty means that the income level from employment is so low or no employment that basic human needs are not met. Poverty-stricken people can go without proper housing, clean water, healthy food, and medical attention.
Progress has been made in measuring and analyzing poverty, the World Bank Organisation is working to identify other indicators and dimensions of poverty. This includes identifying social indicators to track education, health, access to services, social exclusion, and vulnerability.
Table of Content
- What is Poverty?
- Understanding Poverty
- Aspects of Poverty
- Types of Poverty
- Causes of Poverty
- How to reduce Poverty?
- Which Countries have Highest Poverty Rates?
- Latest Statistics and Research Findings on Poverty
- Real-World Case Studies: Illustrating the Impact of Poverty
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