Poverty and Global Inequality Flashcards

Vocabulary flashcards based on lecture notes about poverty and global inequality.

Income

The sum of all incomes in a given state, derived from 'labor' earnings (wage) and also from wealth (interest on a savings account, dividends etc).

Wealth

The sum of the value of all assets.

Relative poverty

Based on where someone lives and their circumstances compared with those around them.

Absolute poverty

Designates everyone living under a certain level as living in absolute poverty regardless of where they live or any other circumstances.

GDP (Gross Domestic Product)

The overall size of an economy measured by the sum of all goods produced and services provided within and by that country.

GDP per capita

Gives a clearer picture of the overall productivity of an economy by dividing the sum of GDP by the population of that country.

GNP (Gross National Product)

The value of all the means of production (all finished goods and services) owned by the residents of that country for a particular period of time.

GNI (Gross National Income)

The total of incomes earned by residents and businesses of a country (this includes income from foreign investments).

The unadjusted gender pay gap

Looks at the overall average gap between men’s incomes and women’s incomes.

The adjusted gender pay gap

Takes into account similar levels of employment (for example comparing similar job types and similar qualification levels)

Labour income shares

Seeks to level out the figure, taking into account not just gaps in pay but also inequalities in employment (access to certain jobs)

Impacts of poverty

Hunger and malnutrition, Health problems, Low literacy levels, Poor accommodation and sanitation infrastructure, Damage to ecological systems, Increase in mental health challenges, Increase in feelings such as humiliation.

The Many Faces of Exclusion

Measured life-changing events including displacement by conflict, mortality rates of under 5s, adolescent birth rates, school drop out and malnutrition which generate an index that determines threats to childhood

UN Gender Inequality Index

Composed of the different dimensions of gender inequality. An index of 0 represents perfect equality while an index of 1 represents maximum inequality.

Human Development Index (HDI)

A statistic composite index of life expectancy, education, and per capita income indicators, which are used to rank countries into four tiers of human development.