SOCL 2001 Lecture Notes - Lecture 48: Richard Herrnstein, Developed Country, Oscar Lewis
Document Summary
Poverty can be defined as a condition of deprivation due to economic circumstances. The census bureau uses a set of money income thresholds that vary by family size and composition to determine who is in poverty. Poverty thresholds are derived from the cost of a minimum food diet multiplied by three to account for other family expenses. Absolute poverty is the point at which a household"s income falls below the necessary level to purchase food to sustain its members. At the core of the debate about poverty in america is the question of whether poverty is the cause of social ills such as crime, poor educational outcomes, divorce, and so on, or whether it is their result. Perverse incentives- reward structures that lead to suboptimal outcomes by stimulating counterproductive behavior. Unintended consequences are those policy results not anticipated at the time of implementation. A recession is a period of economic decline lasting half a year or more.