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Extremely poor

Extremely poor - Extremely poor land ownership Source De...

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Extremely poor – land ownership Source : De soto Definition : The poor do not own land and hinders their economic development Example : The favela’s in Brazil, or Africa Significance- The extremely poor posses land, but do not necessarily own it. It would be better if they own it because they can use it to collateralize it. They probably only own enough land to feed their own family. If the poor owned more land, they might be able to produce a surplus and if you produce an agricultural surplus, you get to sell it on the market. Also hard to get upward mobility. Poverty – ‘triple whammy’ Source: Microsave “The Triple Whammy of Poverty”, also from lecture Definition: After researchers observed the financial diaries of villagers and slum dwellers in Bangladesh, India, and South Africa, they saw that these households dealt with three problems known as the triple whammy poverty trap: incomes are small: Managing and stretching uncertain income flows to put food on the table every day is the highest priority of every family.
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