Econ 366 Notes (10.20.2008)

Econ 366 Notes (10.20.2008) - Econ 366 Notes Chapter 9 The...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Econ 366 Notes 10/20/2008 Chapter 9: The Problem of Poverty Measurement of Poverty - What is poverty? o Not only about no money, but no prospects o There is no naturally dividing line between poor and non-poor Measures are approximate at best - The official poverty line o Poor families spend 1/3 of income on food o Different countries have different “values” of poverty Average family in China would be considered in poverty in the U.S. (even if they are doing average in China) - Poverty income o Poverty population: count # of people below the poverty line o Poverty gap: additional income the poor would need to escape poverty o Poverty income: 20% of median income Demography of Poverty - From 1929 to 1969, there is quite a sharp decline in poverty in the United States (from 50% to 12.1%) - Since then, there has been no significant reduction Reasons for increase in poverty - Some of the reasons have to do with the overall growth of the economy o When it’s not growing well, it hurts everyone
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 09/26/2009 for the course ECON 366 taught by Professor Sengupta during the Fall '08 term at USC.

Page1 / 2

Econ 366 Notes (10.20.2008) - Econ 366 Notes Chapter 9 The...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online