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Discuss the various factors that cause poverty.

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  • Essay length: 789 words
  • Submitted: 13/03/2008
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International Baccalaureate Economics

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Poverty is widespread in the modern world. It is regarded in relative or absolute terms. Relative poverty is when the standard of living falls below a certain percentage of the country's average. The OECD uses half the average income to indicate a measure of relative poverty. Absolute poverty is where the level of income is below that necessary in providing for the minimum requirements for food, water and shelter. The living standards of areas severely stricken by poverty have been decreased heavily as a result. The biggest example would be the region of Africa. Lack of educational quantity has led to an inefficient number of professionally skilled citizens; this provides hindrance towards the country's overall workforce and economic development. The President of the world bank, James Wolfensohn, reported that poverty is a forefront task, it being the 'greatest economic challenge facing the world' 1

Half of humanity already lives on the equivalent of just two dollars a day2. Life expectancy, as the article reports, suffers as a result. The decrease in life expectancy results from people nationwide with no access to necessities such as food, water, sufficient healthcare. Crime rates potentially rise as a result; people

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