ECON 104 Lecture Notes - Lecture 6: Amartya Sen
16 Feb 2016
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Dividing up gdp -- 2: income inequality and poverty. The state of one who lacks a usual or socially acceptable amount of money or material possessions. Poverty is said to exist when people lack the means to satisfy their basic needs. Do we measure this in absolute or relative terms> Amartya sen defines poverty relative to absence of capabilities. Participate meaningfully in the civic life of one"s community. Multiply food budget by three = poverty line. Low-income people spend more on non-food necessities than 1963. Due to mother"s entering the workforce, rising health care. Government recognizes problem of low poverty line in defining eligibility for programs such as food stamps. Sen and wilson would agree on some causes:
