Poverty is a major issue in the world, and it has been since the dawn of civilization. Poverty is always changing; not only in how many people are living below the poverty line but also in what causes poverty changes over time. The article discusses different ways in how poverty is being redrawn.
The World Bank
The World Bank lives and breathes poverty. The World Bank’s main goal is to bring low-income countries out of poverty, and they require data to do this. They use data such as life expectancy (taken from their estimates of people living below the country’s poverty line), literacy rate (percentage), infant mortality rate (IMR), and maternal mortality ratio (MMR). Poverty lines are based on a person consuming $1.90 per day in 2011 purchasing power parity terms, with adjustments for inflation using 2005 constant international dollars.
There are many different sources for global poverty data, but one source that shows great clarity is world meters. They provide up-to-date information on the topic of poverty and include the number of people in extreme poverty (living on less than $1.25 per day), as well as the percentage of people who live below their country’s national poverty line.
The Global Poverty Project
The Global Poverty Project seeks to end extreme poverty by 2030 by setting a goal of reducing the number of people living below their country’s National Poverty Line by 50 million every year until 2030 – a goal they call the “Global Goal for Poverty”. Their website provides a list of countries and their National Poverty Line, as well as how many people are living below that poverty line.
Where is Poverty Most Prominent?
According to the World Bank, three different types of poverty can be measured – relative poverty, absolute poverty, and chronic poverty. Relative poverty is defined as ‘the inability of individuals, households or communities to command the resources necessary for some socially accepted standard of living. Absolute poverty is when an individual lacks the means to secure basic life necessities. Chronic poverty is a type of absolute poverty that lasts anywhere from a year up to a lifetime. According to the United Nations website, there were about 925 million people in extreme poverty (living on less than $1.25 per day) in 2015. This number has been decreasing over time, but there are still roughly 766 million people living below their country’s National Poverty Line.