FCS-2110 Lecture Notes - Lecture 8: Bourgeoisie, Proletariat, Meritocracy
3 Oct 2016
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Document Summary
One billion people, 1 in 7, of the world"s population are extremely poor, living on less than. Wealth- ,000 top 10% of world population. Wealth of ,000 top 1% of world population. In 2014, the richest 1% of adults in the world owned nearly half (48%) of the global wealth. Most (80%) live in sub-saharan africa and south asia. Economic inequality refers to the wide gap that divides the rich and poor. Defining and measuring poverty food and water, but also housing, sanitation, education and health care population country. Extreme poverty- living on less than . 25 a day. Relative poverty- the lack of material and economic resources compared with some other. Based on comparing the income of a household to the median income in a specific. Considered poor if household income is less than 50% of median income. Absolute poverty- the lack of resources necessary for material well-being most important are.
