WHAT IS POVERTY?
Poverty is defined as the inability to acquire or provide a basic level of food, water, shelter, and/or reasonable housing. What must be understood is that in many instances, it is not the fault of these (financially) disadvantaged people. A family can become impoverished for a variety of reasons, including death in the family, unexpected unemployment, and crop failures. Poverty is a form of social exclusion that occurs when a person or a family fall below a certain income level. Some individuals feel that great effort and desire are enough to lift people out of poverty. Statistics reveal, meanwhile, that those who are born into poverty are much more likely to stay poor, no matter how hard they work or strive. If the economic system, i.e., the poverty cycle, is working against them, the majority will be unable to escape poverty.
Poverty may be quantified in two ways: absolute and relative poverty. Absolute follows a set of financial guidelines. Relative poverty, on the other hand, is determined by the economic environment in which one lives.
When a person or a household doesn’t even have the bare minimum of money to satisfy their basic needs for a prolonged period of time, they are said to be in absolute poverty. In other words, they are unable to satisfy their fundamental requirements. When a person falls below this level, their survival is in threat. A 15-year-old child who never saw a doctor or gone to school is an illustration of absolute poverty.
Even if the nation grows economically in this situation of poverty, it has no influence on those who live below the poverty line. Absolute poverty compares households based on a defined income threshold, which varies by nation and is determined by the country’s general economic situation.
Because of the diversity in the actual world, this absolute poverty level is frequently disputed. This absolute poverty level of $1.90 per day may be much higher if a person lives in the arctic. To survive in an environment like the arctic, one would require enough heating supplies. This would cost much more than $1.90 each day on average.
Relative poverty is defined as a level of poverty that varies depending on the circumstances, such as the economic climate. An individual who doesn’t have a job and depends on government aid to survive is an instance of somebody in relative poverty. When a household obtains 60% of the typical household income in their own economy, they are said to be in relative poverty. They do have some money, but not enough to buy much more than the bare necessities. This group of people cannot afford the “ordinary pattern” of activities and opportunities that typical earnings can engage in.
Relative poverty shifts throughout time as well. As a society’s wealth grows, so does the quantity of resources and income it considers essential for adequate living circumstances. As a result, relative poverty functions in the context of the society in issue. Relative poverty is also known as “relative deprivation,” since those who fall under this category don’t live in complete poverty, but they don’t have the same living standard as the rest of the nation. It might be television, the internet, clean clothing, a safe household (one that is devoid of abuse or neglect), or even schooling. Relative poverty is determined by the country’s degree of development. It’s about ensuring everybody has access to the same living standards, so that everyone may live their lives to their greatest potential. In this view, poverty alleviation entails releasing vast, unused economic potential inside any nation.
Relative poverty can be permanent, implying that certain families will never be able to enjoy the same living conditions as other members of the same community. They’re essentially “stuck” in a low-relative-income category.
DIFFERENCE BETWEEN ABSOLUTE POVERTY V/S RELATIVE POVERTY
|ABSOLUTE POVERTY||RELATIVE POVERTY|
|Absolute poverty is defined as any person who is unable to get basic necessities such as food, shelter, and clothes.||Relative poverty is based on a comparison of two persons in the same environment instead of biological requirements.|
|Absolute Poverty takes into account income level.||Income level isn’t taken into account when calculating relative poverty since even if a person meets his or her basic necessities, he or she would still be deemed poor.|
|Absolute poverty doesn’t take into account a person’s overall quality of life or the amount of inequality in society. What the idea overlooks is that people have vital social and cultural demands as well.||People who live in relative poverty are better off than those who live in absolute poverty, but they still cannot afford the same quality of living as the rest of society.|
|It is measured using Poverty Line.||It is measured Using the Gini-Coefficient and Lorenzo Curve|
|There is no way to totally eliminate absolute.||When it comes to eradication, there is a little chance of success.|
|Quality of life is poor||Quality of life is marginally better as those living under relative poverty have access to health care services|
|Found in developing countries||Found in developed countries|
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