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The main poverty line used in the OECD and the European Union is a relative poverty measure based on 60% of the median household income. The United States uses an absolute poverty measure based on the U.S. Department of Agriculture's "economy food plan", adjusted for inflation. The World Bank also defines poverty in absolute terms.
Participatory poverty assessment (PPA) is the approach to analyzing and reducing poverty by incorporating the views of the poor. PPAs attempt to better understand the poor, to give the poor more influence over decisions that affect their lives, and to increase effectiveness of poverty reduction policies.
The poverty gap index is an improvement over the poverty measure head count ratio, which simply counts all the people below a poverty line in a given population and considers them equally poor. [2] Poverty gap index estimates the depth of poverty by considering how far the poor are from that poverty line on average. [3]
There are different ways to measure poverty. The Biden era also holds the record low, 11.3%, for Black individual poverty under the Supplemental Poverty Measure, ...
The Alkire-Foster (AF) method [17] is a way of measuring multidimensional poverty developed by OPHI's Sabina Alkire and James Foster. Building on the Foster-Greer-Thorbecke poverty measures, it involves counting the different types of deprivation that individuals experience at the same time, such as a lack of education or employment, or poor ...
Sen poverty measure combines the Gini coefficient for people living below the poverty line with headcount ration of poverty and the average income of these below the poverty line. [20] This measure has been developed by Nobel Prize winner Amartya Sen but has not yet been used in the field of income inequality hypothesis.
Though the United States is one of the wealthiest countries in the world, 11.5% -- or nearly 38 million Americans -- live in poverty, as of 2022. That translates to just under $30,000 per year for ...
The Human Development Reports website summarizes this as "A composite index measuring deprivations in the four basic dimensions captured in the human development index—a long and healthy life, knowledge and a decent standard of living—and also capturing social exclusion." The formula for calculating it is: