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Theories on the causes of poverty are the foundation upon which poverty reduction strategies are based. While in developed nations poverty is often seen as either a personal or a structural defect, in developing nations the issue of poverty is more profound due to the lack of governmental funds.
The Poverty-Growth-Inequality Triangle was originally introduced by Bourguignon in a paper presented at the Conference on Poverty, Inequality and Growth in Paris on November 13, 2003. A modified version of the paper was presented at the Indian Council for Research on International Economic Relations in New Delhi on February 4, 2004. [2]
While different theories may try to explain how income inequality comes about, income inequality metrics simply provide a system of measurement used to determine the dispersion of incomes. The concept of inequality is distinct from poverty [Note 1] and fairness. Income distribution has always been a central concern of economic theory and ...
The EAM defies the Kuznets curve, which insists growth produces inequality, and that inequality is a necessity for overall growth. [6] [10] Manufacturing and export grew quickly and powerfully. Yet, contrary to Kuznets' historical examples, the EAM saw continual increases in life expectancy and decreasing rates of severe poverty. [11]
Human development theory is a theory which uses ideas from different origins, such as ecology, sustainable development, feminism and welfare economics. It wants to avoid normative politics and is focused on how social capital and instructional capital can be deployed to optimize the overall value of human capital in an economy.
Relative poverty refers to individuals or entities that do not meet minimum standards versus others in the same area, place and time. A lot of poorer economies can have both absolute and relative poverty affecting its respective people. Relative poverty generally exists more in advanced economies. [3] [4]
Since the liberal revival inequality has started to rise all around the world. Granted, poverty and extreme poverty declined, but inequalities between developed and developing countries, between capitalists and workers, and between low-skilled and highly skilled workers have risen sharply. Between 1980 and 2021, the income of the richest 10% in ...
The 2022 World Inequality Report, a four-year research project organized by the economists Lucas Chancel, Thomas Piketty, Emmanuel Saez, and Gabriel Zucman, shows that "the world is marked by a very high level of income inequality and an extreme level of wealth inequality" and that these inequalities "seem to be about as great today as they ...