Economic Justice

Week 4 & 5

Living wage

money enough to actually live on

Gentrification

poor areas becoming rich/expensive (unaffortable for original residents)

Relative poverty

living just below average income that can’t fully catch up with average living standard

Absolute poverty

a condition that causes people to be unable to pay basic expenses/ necessities (food, shelter,…)

Generational poverty

poverty passed down through generation

Working class

people in low-pay or manual jobs/ limited financial security

Food insecurity

limit to access or eat quality food to meet the needs

UBI (Universal Basic Income)

economic solution in which everyone receives a paycheck regardless of their employment status

SRO (Single Room Occupancy)

very small housing when people rent just one room and share bathroom and kitchen

Wealth gap

unequal distribution of properties and money between the wealthy and the other population

Renovation

the physical act of repairing a building. In this context, it is often the “excuse” used to evict tenants.

“Flipping” a property

buying a cheap property, making cosmetic changes (paint/floors) quickly, and re-selling or re-renting it at a much higher price or profit

Neglect

deliberately failing to repair essential services (heat, elevator, plumbing) to make life unbearable so tenants leave voluntarily

Displacement

the forced movement of people out of their homes/neighborhoods because they can no longer afford the cost of living

Eviction

the legal order removing a tenant from their property