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Mon, 29 Nov 2010

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There are two kinds of poverty: relative poverty and absolute poverty. One could define the latter as lacking certain qualities of life; for example access to a minimum of 1600 calories per day, shelter to keep you warm and dry, and clean clothing appropriate for your climate and culture. There are many people who are absolutely poor. It's possible to abolish that kind of poverty. It is not possible to abolish relative poverty. Some people will always have much much more than other people; we call these latter "poor", often without distinguishing them from the absolutely poor.

posted at: 05:00 | path: /economics | permanent link to this entry

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