The Pros And Cons Of Poverty

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All over the world differences, between the wealthy and the poor are obvious and everlasting. Fewer people are becoming rich and larger numbers of people are growing poorer leading to poverty as a global problem. This leads us to question as to why some people live below the poverty line and some live in the extreme luxuries of life.

To begin with, poverty is very difficult to define. However, it is a condition where the basic needs of mankind namely food, clothing and shelter are not met. According to the World Bank indicators, 2008, over three billion people, live on less than $2.50 a day and at least 80% of humanity lives on less than $10 a day. It is also a well-known fact that more than 80% of the world’s population lives in countries where salary gaps are wide. The poorest 40% of the world’s population accounts for 5% of global income and the richest 20% accounts for three-quarters of world income.

Poverty can be defined as two types: Absolute poverty and Relative poverty.
Absolute poverty is total need where the people are poor of resources and fight for survival due to lac...

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