Define: Poverty

Poverty
Poverty
Quick Summary of Poverty

Poverty refers to a state of deprivation or lack of material resources necessary for a decent standard of living. It encompasses inadequate access to basic needs such as food, shelter, education, healthcare, and clothing. Poverty can be caused by various factors, including economic inequality, unemployment, lack of access to education or healthcare, discrimination, political instability, and environmental factors. It is a complex and multifaceted issue that affects individuals, families, and communities worldwide. Governments, non-governmental organisations, and international agencies often implement social welfare programs, economic policies, and poverty alleviation initiatives to address the root causes of poverty and improve the living conditions of those affected. Despite ongoing efforts, poverty remains a significant challenge globally, requiring coordinated action and sustainable solutions to achieve meaningful progress in reducing its prevalence and impact.

What is the dictionary definition of Poverty?
Dictionary Definition of Poverty
  1. The quality or state of being poor or indigent; want or scarcity of means of subsistence; indigence; need.
  2. Any deficiency of elements or resources that are needed or desired, or that constitute richness; as, poverty of soil; poverty of the blood; poverty of ideas.
Full Definition Of Poverty

Poverty refers to the particular state of living in a family in which the income is below a certain minimum level set by the federal government. The state of poverty is characterized by the lack of the essentials of life including food, safe drinking water, clothing, shelter as well as rights to education, healthcare, access to information and the like.

According to the socially defined concept of relative poverty, the chief determinant of poverty is the social context. The relative measure of poverty is the inequality in income. To measure relative poverty, a comparison between the total wealth of the poorest one-third of the population and the total wealth of the richest 1% of the population is necessary.

Accomplishing shared growth is a major solution to poverty. A number of global financial organizations like The World Bank are trying to promote shared growth among the poor. As per shared growth programs people living near and under the poverty line make a contribution to the economic progress of a country and reap the rewards as well.

Poverty Analysis

Poverty analysis is a very important step as far as the reduction of poverty is concerned. Proper measurement and analysis are extremely important in the context of getting rid of poverty. Equally important in this context are mapping and monitoring of poverty.

Measurement Of Poverty

The measurement of poverty is done with regard to absolute or relative poverty. Absolute poverty refers to the continuation of the set of conditions over a certain period of time and between countries. According to the World Bank, extreme poverty is defined as the condition of living on less than USD 1 per day, while moderate poverty is living on USD 2 per day.

Poverty Reduction Measures

It is extremely important to see and judge if poverty reduction measures that have been adopted are being effective or not. If they are producing results it has to be seen that what can be done to make these processes more effective. If they are not being as effective as expected, problems and shortcomings have to be located.

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This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.

This glossary post was last updated: 29th March, 2024.

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