What is Poverty?
Poverty is when a person or a family does not have enough money to meet basic needs such as clothes, food and shelter. People may experience debt, social exclusion, and be unable to afford education, housing and even medical bills of any kind. Consequences of poverty can affect both the physical and mental health of those experiencing it, as well as, having high economic costs, and can result in a rise in crime and drug culture.
There is a number of ways to measure poverty; the first one I am going to discuss is Measuring Relative Poverty. Relative Poverty means having an income below 60% of the median income for an adult per week. For example, if the median income is €200 per adult per week and the said adult earns just €180 per week they are said to be experiencing relative poverty. To put it simply relative poverty is a measure of income inequality. This method is quite useful in measuring poverty in 1st World Countries (Developed Countries). Its works particularly well and can be quite accurate in developed countries because they tend to have all employed and unemployed people on record and know exactly how much people are earning. Whereas, in developing countries the information they have (if any) on their population can be inaccurate and definitely less trust worthy. I think that this is definitely a good way to measure poverty once you can be sure that the information supplied to you is accurate. The only discrepancy I see in this method is that it is not thorough enough and does not look at the daily struggles people face like measuring consistent poverty does. Measuring relative Poverty changes with a nations view on what a decent standard of living is.
Another way to measure poverty is Measuring Consistent Poverty. Like measuring relative poverty, measuring consistent poverty also means having an income below 60% of the median income per adult per week, but also “experiencing enforced deprivation”i. It means that a...
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