Chapter

Poverty

Bernard Van Praag

in Happiness Quantified

Published in print April 2004 | ISBN: 9780198286547
Published online January 2005 | e-ISBN: 9780191718601 | DOI: http://dx.doi.org/10.1093/0198286546.003.0015
 Poverty

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This chapter explores the poverty phenomenon, distinguishing between the status of objective poverty and the subjective feeling of poverty. It is argued that defining objective poverty in terms of a minimum income or ‘basic needs’ runs the risk that some people who are officially declared to be ‘poor’ feel ‘non-poor’ and vice versa. A multidimensional poverty concept is presented, conforming to the approach to multidimensional inequality.

Keywords: objective poverty; subjective poverty; poverty line; equivalence scales; poverty definitions; multidimensional poverty

Chapter.  12045 words.  Illustrated.

Subjects: Microeconomics

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