Poverty, Inequality, and Development Explained (Core Concepts in Development Economics)

Описание: Are poverty and inequality the same? How do economists measure a country's development?

In this concise, core economics lesson, we break down the critical concepts of poverty, inequality, and their essential relationship to national economic development. Perfect for students of Economics, Development Studies, and anyone interested in global well-being.

🔑 Key Topics Covered:
Poverty Definitions: Understanding the difference between Absolute Poverty (e.g., the International Poverty Line) and Relative Poverty.

Measuring Poverty: We explain the Headcount Index and the comprehensive Multidimensional Poverty Index (MPI), which examines deprivations in health, education, and living standards.

Measuring Inequality: Learn how to interpret the Lorenz Curve and calculate the Gini Coefficient, the most common measure of income disparity.

The Development Goal: What is true Economic Development? We look at the holistic measure: the Human Development Index (HDI).

The Nexus: Why high inequality is a major roadblock to sustainable economic growth and how it fuels the inter-generational poverty trap.

Policy Solutions: Effective strategies like Progressive Taxation, Conditional Cash Transfers (CCTs), and investment in Human Capital (education and health).

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