SOC 102 Lecture Notes - Lecture 6: Supplemental Security Income, Earned Income Tax Credit, Economic Inequality
Document Summary
Wealth | total assets of an individual or household minus liabilities (mortgages, loans, and debts). The richest 1% of adults (ages 20 and older) in the world own 46% of global household wealth. Richest 10% of adults own 86% of total global wealth. The poorest half of the world adult population owns barely 1% of global wealth. Feminization of poverty: women are more likely than men to live below the poverty line. Absolute poverty lack of resources necessary for material well-being: food, water, housing, land, and health care. Relative poverty deficiency in material and economic resources compared with some other population. Extreme poverty - living on less than . 25 a day. Multidimensional poverty index - measure of serious deprivation in dimensions that combines the number of deprived and the intensity of their deprivation. Data from 104 countries (with 78% of the world"s population) revealed 1/3 of the world"s population (1. 7 billion) live in poverty.
