According to World Bank Group, more than one fifth of the population of the developing world lives in extreme poverty, that is, lives with incomes below the threshold of $1.9 a day, constituting about 1.2 billion people. Although these disturbing figures, world has achieved impressive results in poverty reduction during the last 3 decades, even surpassing the expectations of the first Millennium Development Goal of reducing extreme poverty twofold: since 1981 the number of extremely poor people in the developing countries has dropped by more than 720 million people, while it is expected to reduce to 3% of population by 2030, as to World Bank goal. Notwithstanding fast poverty rates reduction across the developing world as a whole, it was far not so fast across Low Income countries. Moreover, absolute number of people living at less than 1.9$ a day has grown considerably through the last 30 years in Low Income Countries. Such situation requires more distinguished approach in the poverty reduction task which is focused on fostering the growth of income of bottom quintile of population and which is known as "shared prosperity" in the World Bank terms.
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Every poor person in the United States would get a one-time payout of $1,736 if Bill Gates—the richest US citizen—distributed the total value of his assets equally among the US population living below the poverty line. This data is based on analysis from the Robin Hood Index, created by Bloomberg, which compares the net worth of the richest billionaires in 42 countries with the number of individuals below the national poverty line in those same countries to show the theoretical gain to the poor from the distribution of each country's wealthiest citizen. According to the most...
Multidimensional Poverty Index (MPI) complements standard income poverty indicators (which define poverty as percent of population living at 1.25, 2, 2.5 etc. dollars a day) by taking into account deprivation aspect of poverty. Thus, for many people being poor means not only lack of money but also limited access to education, nutrition, sanitation, water and so on. MPI concept embraces this idea by defining the poor as those who are simultaneously deprived in several of these things. More specifically, MPI is based on 10 indicators which are grouped into three categories: health,...
Single males without children are more likely than any other population group in Europe to be unable to afford basic durable goods, according to Eurostat (2014). These goods include, for example, personal cars and telephones. Computers and affordablity of meat-based meals are notable exception, with European men scoring better than their female counterparts. And, while single adults generally tend to be more likely to lack durables than are couples, households with children, by contrast, are at the lowest risk of "enforced lack of durable goods", e.g. these household are more likely...
(23 September 2020) Sir Thomas More introduced the concept of basic income* in Utopia back in 1516. It's a simple concept: Eliminate poverty by guaranteeing a basic level of income. The New Jersey Income Maintenance Experiment (1968-1972) was the first basic income experiment and has since been followed by more than 40 experiments across 14 countries, including 16 ongoing, and another 5 experiments planned for 2020 or later. From an experimental perspective with small groups of participants (as opposed to whole economies), the data demonstrates that basic income helps to eradicate...
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