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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 causes of poverty may vary with respect to nation, region, and in comparison with other countries at the global level. Yet, there is a commonality amongst these causes. Yet, there is a commonality amongst these causes.
The Economic Policy Institute (EPI) estimated that greater income inequality added 5.5% to the poverty rate between 1979 and 2007, other factors equal. Income inequality was the largest driver of the change in the poverty rate, with economic growth, family structure, education and race other important factors.
The culture of poverty emerges as a key concept in Michael Harrington's discussion of American poverty in The Other America. [6] For Harrington, the culture of poverty is a structural concept defined by social institutions of exclusion that create and perpetuate the cycle of poverty in America.
Number in Poverty and Poverty Rate: 1959 to 2017. The US. In the United States, poverty has both social and political implications. Based on poverty measures used by the Census Bureau (which exclude non-cash factors such as food stamps or medical care or public housing) America had 37 million people in poverty in 2023; this is 11 percent of population. [1]
Poverty is a generational problem and it’s one that we can and should solve, but to do so will require holistic and generational approaches that fully take into account how wealth-building works.
Fred L. Block and Margaret Somers, in expanding on Karl Polanyi's critique of laissez-faire theories in The Great Transformation, argue that Polanyi's analysis helps to explain why the revival of such ideas has contributed to the "persistent unemployment, widening inequality, and the severe financial crises that have stressed Western economies ...
For much of the past decade, policymakers and analysts have decried America's incredibly low savings rate, noting that U.S. households save a fraction of the money of the rest of the world.