Poverty and Inequality

What is Poverty?

The people who cannot capable of providing the basic needs for themselves are considered to be in Poverty.

What are the key trends in Global Poverty and Inequality?

Does capitalism eliminate or reinforce inequality?

Has globalization increased, or decreased global poverty?

According to Hodgson, G. (2020) “capitalism embodies and sustains an Enlightenment agenda of freedom and equality. Typically there is freedom to trade and equality under the law, meaning that most adults — rich or poor — are formally subject to the same legal rules.” In other words, capitalism can generate more inequality.

References:

Chen, J. (2020). Poverty. Retrieved from. https://www.investopedia.com/terms/p/poverty.asp

Kopp, C. (2020) Globalization. Retrieved from. https://www.investopedia.com/terms/g/globalization.asp

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store