Poverty
- Created by: katie_lm
- Created on: 29-04-17 14:39
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- POVERTY
- Causes of Poverty
- UNEMPLOYMENT: acts as a limit to a decent income and cuts people off from society.
- LACK OF SKILLS AND EDUCATION:Limits access to a decent income.
- GENDER: Women are generally at higher risk of poverty than men.
- LACK OF FINANCIAL CAPITAL: Particularly retired, poverty amongst old people is high due to lack of inadequate savings.
- Causes of income inequality
- EMPLOYMENT STATUS: unemployed or retired individuals will be on lower incomes than the employed.
- WEALTH: individuals with higher levels of wealth can generate more income.
- EDUCATIONAL OPORTUNITIES: individuals from poorer backgrounds are less likely to consume FE or HE and will therefore, have lower income earning abilities.
- DICRIMINATION: condemns some groups to lower incomes as unable gain promotions.
- Why is some inequality good for the economy?
- More incentive to improve human capital
- More incentive for risk taking and dynamic behaviour.
- Causes of Poverty
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