Poverty & Inequality

Poverty and inequality are critical socio-economic issues that impact the well-being of individuals and societies globally. Poverty refers to the condition where people lack access to basic needs like food, shelter, healthcare, and education, and is often categorized into absolute and relative poverty. Absolute poverty refers to an inability to meet basic survival needs, while relative poverty focuses on economic disparities within a society. The causes of poverty include economic factors like unemployment and low wages, social issues such as lack of education, and political factors like corruption.

Inequality, on the other hand, refers to the unequal distribution of resources and opportunities among different individuals or groups, leading to disparities in income, wealth, education, health, and social status. Types of inequality include income, wealth, social, gender, racial, and regional inequalities, all of which are influenced by economic, social, political, and historical factors. The measurement of inequality and poverty involves tools like the Gini coefficient, poverty lines, and multidimensional indices. Addressing these issues requires a multifaceted approach, including progressive taxation, improving access to education, and creating inclusive economic growth.