FMSC 381- Final Exam Guide - Comprehensive Notes for the exam ( 25 pages long!)
28 Mar 2018
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Critiques: assumes poverty and related problems are due to a deficit in the person rather than a disordered or hazardous system, fails to acknowledge connections between historical. Is saying that fixing the family unit is at the core of getting out of poverty. Income inequality rising has been one defining characteristic of the u. s. economy over the past 50 years. Wealth net worth, including things like assets, stocks, savings. In the u. s. the wealth gap is larger than income gap. In late 1990s, the stock market boomed and median household wealth increased: early 2000s, stock market declined but home values increased, great recession led to broad losses in wealth, but richest faced smaller declines. Increased poverty rate during periods of recession: decreased poverty rate in recovery, as of 2015, poverty rate is about 13. 5, 80% of people leave poverty within 2 years but remain vulnerable.
