What is a definition of poverty.
Definition of the concept “poor”
First of all, we will study in more detail the definition of poverty, which is a basic concept formed by many economists and sociologists. It is widely known as the effective measure of material well-being, since unemployment is a significant factor leading to poverty. Another indicator of the social and economic state of a certain group of people is the level of their social adaptation. You should be able to provide examples of both qualitative and quantitative indicators in your wealth inequality essay, since the topic is quite diverse. Still, there are so many important definitions of poverty that it is quite difficult to keep track of all of them. Let’s talk about the most common of them.
In the broad sense, poverty is a condition of the lowest level of material well-being which is mainly manifested in the collective economy, material well-being being a basis of the individual’s well-being. In the material well-being of a person, there is a corresponding concept of the ‘poor’, ‘middle class’, and ‘upper class’, which are used to define the standard of living. The middle class is considered to be the most economically and socially active segment of the population, since it is the largest and the most economically active segment of the society. From a socio-economic point of view, the middle class is the most important social group, since the changes in the material situation there are immediately reflected in the salaries of representatives of the middle class.
The income of the middle class is based on a variety of factors, and as a rule, on a two-year data. The income of any part of the middle class is determined by the average incomes of a few individuals, the salaries of a middle manager are determined by the wages of other workers, and the value of the goods created by both producers and consumers.
There are several ways to consider the middle class in essay on income inequality:
Persons with a higher value of indicators mentioned in this list belong to groups located above the middle class on the social ladder (the upper stratum, the elite).
An important feature of the middle class is its quantitative scale. In any case, the share of the middle class in the population should be not less than the total share of those groups whose social status is somewhat below. The functioning of the middle class begins exactly from this quantitative threshold. Otherwise, it would be only one of the layers in the social structure of society.
Based on the above, you can specify the social groups that belong to the middle class in essay on economic inequality:
The middle class is distinguished by high heterogeneity and even ambiguity in many objective and subjective criteria. This prevents the understanding of the common interests of representatives of the middle class.
It’s important to mention in income inequality paper that the presence of the middle class provides stability and dynamic economic development. As a basic social group, it performs a number of very important social functions.