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Critically asses the factors taken into consideration when assessing whether a nation is rich or poor. use case studies/examples to support your answer - Essay Example

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In most countries, the level of income per household or their level of consumption of the most marginalized members of the society…
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Critically asses the factors taken into consideration when assessing whether a nation is rich or poor. use case studies/examples to support your answer
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Extract of sample "Critically asses the factors taken into consideration when assessing whether a nation is rich or poor. use case studies/examples to support your answer"

Download file to see previous pages Other factors such as the incidences of crime and violence, or discrimination against a specific group in the society can indicate the levels of poverty (Hentschel & Seshagiri, 2000).
Per capita income or consumption of a household is normally used to measure the level of poverty in any country. Such assessment aims at finding whether house holds are able to buy basic needs, for instance, basket of goods at a given point in time. There are several ways of defining the contents of the basket but in most cases, it is assumed that the basket should contain a minimum of goods essential for the survival of the household. Such goods should include food with their correct nutritional values, housing, water, clothing and transport among other goods. The worth of this basic basket is in most cases referred to as “poverty line”. Poverty line normally helps to differentiate the part of a population that is capable of affording basic needs or that part of a population that has an income level from the part of a population that does not (Hentschel & Seshagiri, 2000).
According to Buchman (2004) economic globalization is claimed by its supporters that it benefits every country that each country ultimately grows rich. However, anti-globalization movements argue that it is the rich nations that benefit. The general economic globalization does seem to have only helped the rich nations in achieving their high revenue base. From the days of industrial revolution, rich countries have benefited from economic globalization than the poor nations. In the recent past, some poor nations have become significantly poor due to economic globalization. It is worth noting that the structure and the politics of economic globalization currently favor the rich nations. If let in the current state; the rich will get richer while the poor will get poorer.
The gab between the poor and the richer has always grown wider and wider, this has been ...Download file to see next pagesRead More
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