Chapter 6: Inequality and Poverty____
Chapter Learning Objectives
After reading the chapter, you ought to understand and be able to explain:
- Why rising per capita income is necessary but not sufficient for broadly reducing poverty and improving human welfare.
- The distinction between income inequality and poverty.
- The use of the head-count ratio and poverty gap to measure poverty.
- The use of the Lorenz curve, the Gini concentration ratio, and frequency distributions to measure the size distribution of income.
- Kuznets’s inverted-U hypothesis describing changes in income inequalityin the process of economic development.
- How empirical evidence provides only weak support for Kuznets’s hypothesis while strongly confirming the link between economic growth and poverty.
- The geography of world poverty, especially the concentration of poverty in rural areas.
- Development and Human Welfare: Which policy approaches are most promising for achieving equitable growth.
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