ranjan

Eradication of poverty remains a major challenge of planned economic development. Poverty is a complex, multifaceted condition, with contributing factors that include lack of education, low wages, family composition, job availability and others. There are two major types of poverty - 1. Absolute poverty - when people have insufficient income to afford the necessities of life such as food, rent and clothing. 2. Relative poverty - when people have significantly less income than the average income for society.  Some policies such as promoting economic growth may be successful in reducing absolute poverty but less successful in relative poverty.  With flat incomes and inequality stuck at historically high levels, one might assume that chronic economic insecurity and an out of equilibrium, not straight level / aligned proper economy, are the new normal and that nothing can be done to fix it. But they are the direct result of policy choices that put wealth and income in the hands of a few at