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poverty
Poverty is general scarcity or the state who lacks a certain amount of material possessions or money .it is a multifaceted concept with includes socia; economic and political .it refers to the lack of mesns necessary to meet basic needs such as food ,clothing and shelter .Absloute poverty is meant to be about the same independent of location .Relative poverty occurs when people in a country don't enjoy certain minimum level of living standards as compared to the rest of the population and so would vary from country to the other or sometimes within the same country. That isn't having food means being poor but being poor also means being unable to afford food or clean water. The effects of poverty are often interrelated so that one problem rarely occurs alone. Bad sanitation makes one susceptible to diseases, and hunger and lack of clean water makes one even more vulnerable to diseases. Impoverished countries and communities often suffer from discrimination and end up caught in a cycle of poverty. CASE OF POVERTY similar to collective poverty in relative permanence but different from it in terms of distribution .Case poverty refers to the inability of an individual or an family to secure basic needs even in social surroundings of general prosperity.

CULTURE SIDE OF POVERTY the culture of poverty is attracted academic and policy attention in the 1970s survived harsh acadenic criticism made a comeback at the begining of the 21st century .it offers one way to explain  why poverty exists despite anti-poverty programs.Critics of the early culture of poverty arguments insist that explanations of poverty must analyze how structure factors interact with and condition individual characteristics   put by small harding and lamont meaning people give to their actions these dynamics should become central to our understanding of the production and reproduction of poverty and social ineqality.

POLITICAL SIDE OF POVERTY We all agreed that poverty is the key problem of our time,It is a political problem because the world has resources enough to solve it if the decisions to solve it are taken, but the problem has not been solved. It is becoming more acute and political will is needed.The present model of economic globalization is generating poverty at a global leveland based on that diagnosis former Soviet Union president( Mikhail Gorbachev) had convened the meeting of many of the political leaders from around the world that had shaped globalization to find the solutions.

SOCIAL SIDE OF POVERTY

The vicious cycle of poverty means that lifelong barriers and troubles are passed on from one generation to the next.Unemployment and low incomes create an environment where children are unable to attend school. Children must often work to provide an income for their family. As for children who are able to go to school, many fail to see how hard work can improve their lives as they see their parents struggle at every day tasks. Other plagues accompanying poverty include, Crippling accidents as a result of unsafe work environments consider the recent building collapse, Poor housing a long lasting cause of diseases, Water and food related diseases that occur simply because the poor cannot afford “safe” foods. Ultimately, poverty is a major cause of social tensions and threatens to divide a nation because of income inequality. This occurs when the wealth of a country is poorly distributed among its citizens when a tiny minority has a majority of the money. Wealthy or developed countries maintain stability because of the presence of a middle class. However, even Western countries are gradually losing their middle class. As a result there has been an increased number of riots and clashes. For society, poverty is a very dangerous factor that can destabilize an entire country. The Arab Spring is a great example of how revolts can start because of few job opportunities and high poverty levels.

Economic side of poverty

How important should the subject of poverty be within the discipline of economics? Some economists appear to think it is a very small issue compared to the magnificent mathematics of general equilibrium theory. Others believe that economics should fundamentally be about the sources of human well-being and misery, and that understanding poverty is absolutely fundamental for economics. How should we try to sort this out?. Among the contemporary economists who have given the greatest attention to poverty and deprivation, Amartya Sen and Jean Dreze are particularly outstanding. Their research on well-being, quality of life, and hunger set a standard for the point of view that says that life quality and deprivation need to be at the top of the list of economic research goals.

Absolute poverty

Defining absolute poverty means trying to agree a general definition of poverty which is valid at all times and for all economies this is difficult to do.The simplest definition of being poor that is being unable to eat, drink, have shelter and clothing. A common monetary measure of absolute poverty is receiving less than $1 a day (In 2008, the World Bank revised this figure to $1.25 a day and then again to $1.90 a day in 2015.it is also possible to establish an international poverty line, at, say at $700 per capita per year, and then compare countries, by estimating the purchasing power equivalent of that sum in terms of the countries own currency.

Relative poverty

It can be argued that poverty is best understood in a relative way .what is poor in New York is not the same as what is poor in Mumbai (where over 50% of the population live in slums.)many relative definitions of poverty conclude that it is the inability to reach a minimum accepted standard of living in a particular society.Another approach is to look at deprivation the poor being defined as those who are deprived from the benefits of a modern economy.Definitions of relative poverty vary considerably, but the definition of the UK government is typical for developed countries this states that the poor are those living on less than 60% of median income.If we take the international poverty line as a guide, then, as a region, Asia has the highest numbers of its population who are poor.However, as a region of the world, Sub-Saharan Africa has the highest level of poverty as a proportion of total population at over 60%. The second poorest region is Latin America with 35% of its population poor.

http://www.economicsonline.co.uk/Global_economics/Poverty.html

http://economistsview.typepad.com/economistsview/2013/08/poverty-and-economics.html