What keeps the poor Marginalized
Cycle of Poverty
Cycle of Poverty
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In economics the definition of the cycle of poverty Is, A set of events by which poverty, once started is likely to continue unless there is outside intervention. This basically is saying once someone finds themselves living in poverty it is highly difficult for them to work their way out of poverty unless they have help from an outside source, such as family, friends, aid programs, etc.
There are many disadvantages that work together in a circular process making it extremely difficult for impoverished individuals to break free from the shackles of poverty. The poor have limited or no access to the resources needed to escape poverty, such as financial capital, education, or connections to those in power or with specialized knowledge. It is the proverbial catch-22, the impoverished do not have access to the economic and social resources, that would help improve their situation, as a result of their poverty.
Many of those who become trapped in poverty stay there for a long time. According to Boundless.coms article The Dynamics of Poverty, " The cycle of poverty can trap families in poverty for generations, and often becomes widespread when economies undergo restructuring from manufacturing based economies to service based economies." Poor is a relative term, for example the poor in America are much richer than the poor in third world countries. In America to be considered below the poverty line by the United States Census Bureau one has to make only $12,000 a year, and make around $24,000 a year supporting a family of four(Census2014). These numbers seem small and they are. People making even more than this could also be considered poor, this is mainly a grounds for determining eligibility for welfare benefits
The Picture above was taken from NicaWorks!.org, listed url: http://vndf.org/wordpress/about-us/about-us/
In economics the definition of the cycle of poverty Is, A set of events by which poverty, once started is likely to continue unless there is outside intervention. This basically is saying once someone finds themselves living in poverty it is highly difficult for them to work their way out of poverty unless they have help from an outside source, such as family, friends, aid programs, etc.
There are many disadvantages that work together in a circular process making it extremely difficult for impoverished individuals to break free from the shackles of poverty. The poor have limited or no access to the resources needed to escape poverty, such as financial capital, education, or connections to those in power or with specialized knowledge. It is the proverbial catch-22, the impoverished do not have access to the economic and social resources, that would help improve their situation, as a result of their poverty.
Many of those who become trapped in poverty stay there for a long time. According to Boundless.coms article The Dynamics of Poverty, " The cycle of poverty can trap families in poverty for generations, and often becomes widespread when economies undergo restructuring from manufacturing based economies to service based economies." Poor is a relative term, for example the poor in America are much richer than the poor in third world countries. In America to be considered below the poverty line by the United States Census Bureau one has to make only $12,000 a year, and make around $24,000 a year supporting a family of four(Census2014). These numbers seem small and they are. People making even more than this could also be considered poor, this is mainly a grounds for determining eligibility for welfare benefits
The Picture above was taken from NicaWorks!.org, listed url: http://vndf.org/wordpress/about-us/about-us/