Wealth

1
Wealth Poverty

• High-income nations have highly industrialized
  economies technologically advanced industrial,
  administrative service occupations
  relatively high levels of per capita income
  (Examples are Australia, New Zealand, Japan,
  European nations, Canada and the United States)

2
Wealth Poverty

• Middle income nations are countries undergoing
  transformation from agrarian to industrial
  economies (Examples are Columbia, Guatemala,
  Panama, Poland Romania)
• Low income nations are primarily agrarian
  (Examples are Rwanda, Mozambique, Ethiopia,
  Nigeria, Cambodia, Vietnam, Afghanistan,
  Bangladesh and Nicaragua)

3
Wealth Poverty

• In 2000, 20 of the world population (those that
  live in high-income nations) controlled 86 of
  the worlds GDP)
• GDP Gross Domestic Product goods services
  produced within a country
• The bottom 20 controlled only 1 of the worlds
  GDP)

4
Wealth Poverty

• High income countries controlled 82 of the
  worlds exports
• Low income countries only controlled 1 of the
  exports
• High income countries 74 phones
• Low income countries 1.5 phones
• Low income countries ½ of total pop

5
Wealth Poverty

• 1.3 billion people live in absolute poverty
• 600 million people have chronic malnutrition
• 40 million people die each year from hunger
• The number of people dying worldwide is equal to
  300 jumbo jets crashing each day with no
  survivors ½ are children

6
Wealth Poverty

• By 2025, middle and low income nations will
  increase by 60 while high income nations will
  increase by 11 (map 2.1)
• Relative poverty occurs when people can afford
  basic necessities but cannot maintain an average
  standard of living in comparison to that of other
  members in their society

7
Wealth Poverty

• Under 18 (25 of US pop) 40 of poor
• 1 in 4 under age 6 are poor
• Female headed (no adult male) 55 of under age
  6 are poor
• More than ½ of all poor children live in families
  where at least one adult works outside the home
• (see figure 2.1)

8
Wealth Poverty

• Feminization of poverty women are
  disproportionately represented among individuals
  living in poverty
• African-Americans, Latinos and Native Americans
  are overrepresented among people living in
  poverty (figures 2.2 2.4)

9
Wealth Poverty

• Almost half of all below poverty have Medicaid
• 30 of the poor have no health insurance are
  overrepresented among Latinos African-Americans
• 4 million of children under age 12 are hungry
  every year

10
Wealth Poverty

• 50 of all inadequate housing units are in rural
  areas
• Families with children accounted for 40 of all
  homeless individuals
• African-Americans and Latinos are overrepresented
  among the homeless

11
Wealth Poverty

• FDRs New Deal during the Great Depression of the
  1930s started the US being a welfare state (the
  govt takes responsibility for specific categories
  of people by offering them certain services and
  benefits, such as employment, housing, health,
  education or guaranteed income)

12
Wealth Poverty

• Why poverty?
• Motivational blame the poor
• Human capital lack of assets the person brings
  like education, job training, etc.
• Cultural self-perpetuating system that keeps
  people trapped in poverty
• Cultural capital lack of social assets that are
  required for success

13
Wealth Poverty

• Social inequality motivates people to acquire
  scarce resources
• Capitalism workers experience wage squeeze
  while shareholders CEOs rake in the profits