Poverty
Is a condition that exists when people lack resources to fullfil their basic standards of living
Key Macroeconomic objective to avoid
Includes (according to UN)
Hunger and malnutrition
Causes
Ill health and mortality from illnes
Unemployment
Low wages
Limited or lack of acces to education and other basic services
Illness
Homelessness
Age
Inadequate housing
Unsafe environments
Social discrimination and exclusion
Types of poverty
Absolute poverty
Relative poverty
Exists when there is extreme outright poverty (can't be denied)
Is a comparative measure of poverty referring to those who have a lower standard of living in comparison to the average members of society
Policies to alleviate poverty and
redistribute income :
Promoting economic growth
Poor healthcare
Low literacy rates
High population
Poor infrastructure
Low foreign direct investment
Improving education
High public debt
Reliance on primary sector output
Providing state benefits
Using progressive taxation
Introducing or increasing a NMW
Corruption and instability