POVERTY, WEALTH AND INEQUALITY

POVERTY, WEALTH AND INEQUALITY

1. ECONOMIC CHANGES

   • the Third Industrial Revolution. New ways of organizing production, derived from the Japanese experience, were also adopted. It highlighted labor flexibility and the limitation of production according to the demands of the international market. With the transformations in production and labor, social inequalities grew within societies and between nations.
     • Countries such as the United States and Great Britain raised large increases in interest rates. Therefore, through the increase in interest rates.

2. WEALTH IN THE WORLD

   • There is more inequality between countries and also within them. The richest countries, which form the Organization for Economic Cooperation and Development (OECD), concentrate an overwhelming proportion of technology, capitals, markets and industrial production.
     • their forests where oxygen is produced, and now they pressure the poor regions of the world to stop exploiting their own that produce the air they breat

3. HOW IS POVERTY MEASURED

   • First Step: Preparation of a basket that consist of basic and frequently used foods, which have sufficient calories required by the World Health Organization (WHO)
     • Second Step: The poverty line limit is given by those urban households with a per capita income equal to or less than the value of two food baskets, but greater than one basket.

4. HUMAN DEVELOPMENT INDEX

   • In 1980, the 1998 Nobel Prize in Economics, Amartya Sen, created the Human Development Index, which was later adopted by the United Nations.
     • Knowledge or educational achievements

5. POVERTY & INDIGENCY

   • •It is a situation that prevents a person or a household from satisfying their basic needs in housing, nutrition, employment, education and health.
     • Exclusion situation that deprives people of the minimum essential conditions to meet their human needs that allows them to participate as conscious and free actors in social life.

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