Poverty Inequality And Poverty And Inequality

875 Words Apr 19th, 2016 4 Pages
First of all, it is not an easy question due to the fact that numerous economists have been arguing for decade in order to define both extremely important concepts which are poverty and inequality. Both inequality and poverty have mainly negatives impacts in the society therefore, it is almost a prerequisite to have an understanding of both for the sake of reduce them accurately.

The first purpose of the essay is to give a thorough understanding of what poverty and inequality are. The second purpose is to display some similarity between poverty and inequality.

Poverty

Primarily, a simple definition of poverty is highly questionable. Therefore it is argued that different kinds of poverty can be found.
The first kind is Absolute poverty, someone is deem to be poor if his money income is too low to keep him alive or healthy or by nutritional requirement. The challenges faced by this simplistic definition are each individual are unique and then have different nutritional requirement. Secondly the second argument is how can we if someone is poor only using money income because to measure poverty accurately the Full income is needed. Full income (money income+ non pecuniary income) therefore, poverty cannot be partially measure only using money income. The second kind or approach of poverty is called Relative Poverty it indicates that someone is poor if that person feels poor. The relative approach can be deceitful because it varies by time and place according to…

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