Economists Estimate Wealth And Poverty - 1736 Words

Bishoui Fahim Prof, Brian Curtis English Comp 2 April 23, 2016 Wealth and Poverty Economists estimate wealth and poverty in many ways. The most three common measures are income, possessions (accumulated wealth in the form of money, securities, and real estate), and socioeconomic metrics. Actions in the last category go beyond financial data to account for health, food, infant mortality, sanitation, and other phases of human well-being. Usually, wealth and poverty measured regarding income. Information on income is readily available, credible, and relevant, particularly in discussing poverty in the United States, wherever the inherited wealth is a small factor, and most people live on wages and salaries. It s beneficial to think of wealth and poverty about one another. That s because income inequality is truly the underlying issue in poverty, particularly in developed countries. In the economic talk, income inequality indicates to the variation of revenue between and among several groups of people and households in an economy. Frequently the diff erences in wealth that effect people feel wealthy or poor. In a developed country, any family inside a house with indoor plumbing, decent food, and clothes, running water, and education and access to health care. This kind of life will be considered as a luxury. In the United States, millions of people who are enjoying these things are considered poor people, and those things constitute the essentials in America. In developedShow MoreRelatedPoverty in the U.S.961 Words   |  4 PagesAccording to a 2013 article in the Economist, the US currently boasts the highest post-tax level of income inequality of any high-income country in the world (Economist 2013). 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