poverty and inequality (1)

Inclusive Growth: Growth that benefits all social strata with social justice.
Absolute Poverty: Inability to fulfill minimum life needs such as food, clothing, housing, education, and health facilities.
Cycle of Poverty: Poverty breeds more poverty; people accept it as a way of life, leading to low output and chronic poverty.

Definition of Poverty: Inability to meet basic requirements for a healthy and sustainable life.
Types of Poverty:
- Absolute Poverty: Exists when individuals cannot meet basic needs.
- Relative Poverty: Comparison to others, e.g. a family without a car in developed nations.

Always Poor: Individuals born and living in poverty; below the poverty line.
Usually Poor: Individuals occasionally above poverty line; still vulnerable.
Chronic Poor: Always below the poverty line mixed with those occasionally better-off.
Churning Poor: Individuals who fluctuate around the poverty line, e.g. seasonal workers.
Occasionally Poor: Individuals mostly above the poverty line but may fall below due to unforeseen circumstances.

Inequality refers to the skewed distribution of income and wealth.
Exists in many forms: income inequality, wealth inequality, social and regional disparity.
Absolute vs. Relative Poverty: Absolute highlights critical needs; relative indicates economic status compared to others.

Economic Underdevelopment: Low rates of growth and unstable economies.
Population Growth: High dependency ratios in rural areas lead to overpopulation.
Unemployment: Chronic unemployment and underemployment create stagnant income levels.
Capital Deficiency: Lack of capital to support growth and improve living standards.
Inadequate Infrastructure: Poor energy, transport, and social services hinder economic growth.

Limited access to healthcare and education amplifying mental health issues.
Increased inequality limits economic participation and exacerbates social unrest.
Lower standards of living and substandard housing contribute to health crises and discrimination.

Poverty Line: Cut-off point to distinguish poor from non-poor, based on income or consumption.
Head Count Ratio: Percentage of the population below the poverty line.
Poverty Gap Index: Measures the depth of poverty relative to the poverty line.
Multidimensional Poverty Index (MPI): Accounts for various deprivations affecting well-being.

Lorenz Curve: Graphical representation of income distribution; measures inequality visually.
Gini Coefficient: Numerical measure of income inequality ranging from 0 (perfect equality) to 1 (maximum inequality).
Atkinson Index: Measures inequality while considering society's aversion to inequality.
Palma Ratio: Compares income share between the top 10% and bottom 40% to measure extremes in wealth.

Speeding Economic Growth: Increase employment opportunities through enhanced economic activities.
Reducing Income Inequality: Focus on inclusive growth to ensure benefits reach the marginalized.
Combating Population Growth: Develop policies for stabilizing population dynamics to improve per capita income.

Provision of Income-Generating Assets: Enable land and loans for self-employment opportunities.
Education and Training: Facilitate access to quality education and vocational training.
Basic Needs Fulfillment: Ensure essential services like healthcare and education for the poor.

Self-perpetuating Nature: Poverty and inequality are intertwined, each perpetuating the other, requiring comprehensive strategies for resolution.