Term Paper on "Poverty Macroeconomics"

Term Paper 4 pages (1103 words) Sources: 4

[EXCERPT] . . . .

Poverty

Over the years, the issue of poverty and its lasting consequences has been increasingly brought to the forefront. This is because of the impact that it is having on society and the ability of individuals to live empowering lives. According to statistics compiled by the World Hunger Organization, they found that the total number of people who are dealing with the effects of poverty is 926 million worldwide. The below table is highlighting the different areas that are most susceptible to these issues. ("2012 World Hunger," 2012)

The Total Number of People Living in Poverty by Region

Area

Number of People

Developed Countries

million

Near East / North Africa

million

Latin America / the Caribbean

million

Sub-Saharan Africa

239 million

Asia and the Pacific

578 million

Worldwide

926 million

("2012 World Hunger," 2012)

These figures are showing how poverty is having an adverse impact on a number of regions. To fully understand the overall scope of these challenges requires examining the economic effects of poverty on society and development. Together, these elements will highlight the lasting influences on everyone. ("2012 World Hunger," 2012)

The Effects on Poverty on Society

There are no clear definitions for poverty. Instead, it is a way of life that is embracing a number of characteristics. According to the World Bank, this definition is subject to different variables and interpretations with them saying, "The most commonly used way to measure poverty is based on incomes. A person is considered poor if his or her income level falls below some minimum level necessary to meet basic needs. This minimum level is usually called the 'poverty line'. What is necessary to satisfy basic needs varies across time and societies. Therefore, poverty lines vary in time and place, and each country uses lines which are appropriate to its level of development, societal norms and values." This is highlighting how the standards of poverty will vary from one region to the next. ("Definitions of Poverty," 2012)

However, the World Bank determined that the average rate for the international poverty line is $1.25 per day. This is the amount that someone must make to be able to sustain themselves, their families and provide the most basic necessities. These figures are commonly used by actuaries around the world, to determine the overall depth of poverty that is occurring inside a particular region. (Ravallion, 2009)

Poverty has been shown to have a negative impact on society. This is from the tremendous amounts of stress that someone is under will influence their mental and physical well-being. For example, children who are born into poverty will have to deal with a number of challenges including:

Health issues: This can affect the physical well-being of a child and their ability to cope with a variety of situations. What happens is the lack of resources and stress creates an environment that supports a number of behaviors (i.e. drug / alcohol addiction and physical / mental / sexual abuse). At the same time, these children are usually born at lower birth weights and will often wrestle with lingering health issues (such as: asthma). This is problematic, as these challenges will affect the way that someone sees the world around them and their ability to cope. ("Causes and Effects of Poverty," 2012)

The lack of opportunities: Another impact of… READ MORE

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