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Understanding Poverty Image

Promoting Inclusive Markets and Financial Systems

Understanding Poverty

Understanding Poverty

Summary

"Poverty is described in different ways. Historically, poverty has been related to income, which still remains the core of the concept today. It has evolved from the 19th century idea about ‘subsistence needs’ – what a person needs to survive, to the mid-20th century conceptualisation of lacking ‘basic needs’, extending the subsistence idea by also including basic facilities and services such as healthcare, sanitation and education, to the late 20th century understanding of poverty as ‘relative deprivation’, including of income and other resources, as well as social conditions."



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