ECONOMICS

Do You Think It Is Better To Be Poor In A Low Income Or High Income Context?

Introduction2

Comparison of High and Low Income Countries3

What Is Meant By A 'Better' Life?5

Implications of Poverty on Quality Of Life and Happiness6

Impact of Health and Other Inequalities9

Conclusion11

References13

Do You Think It Is Better To Be Poor In A Low Income Or High Income Context?

Introduction

This essay is based on my understandings that what I think it is better to be poor in a low income or high income context. I believe that in general, the high levels of average income in the developed and rich countries do not show reduction in health and social problems due to various circumstances. It can be said that there are less evidences which shows s direct relationship between the high income levels in rich countries and less levels of social problems, and vice versa. Poverty is also about fairness, or lack of equity. The roots of poverty and hunger are deeper in the United States as in 1930s the United States were similar to the poorest countries of present world. The United States coped a lot with these problems and managed a way out to relieve itself a little bit. Many programs and conferences were held in America to reduce the problem of hunger and poverty. Up to 1984, many approaches were made to distribute the food among the poor people of America (Wilkinson, 2010).

Poverty is a comparative term used to describe a situation which is part of a society and perceived lack, scarcity or lack of most basic goods such as food, housing, education or health care (health) and drinking water in the low income or high income countries. The causes of poverty are different for high income and low income countries. There are economic structures that impede progress and attitudes that perpetuate impoverishment. If not identified and corrected, it will be difficult to create prosperity, no matter how much time, resources, money, worry, lamentation or sermons we devote to solving poverty (Davidson, 1992).

1% of the world's richest people own 40 percent of global wealth, while the poorest half owned barely 1 percent, according to a study by the United Nations University. Combating poverty will be much more difficult in the absence of growth both in high and low income countries.

The Individual in low and high income countries should focus on all the aspects while making certain decisions and consider the best options for them while even getting education at the basic level that can result in shaping their future (Marmot, 2005).

Comparison of High and Low Income Countries

The country's income level is determined through Gross National Product (GNP) per capita. This measure shows that wellness of the population in a country. Various researchers have revealed that high income countries have GNP per capita of $12196 or higher, which can be linked with the economic stability in a country, equity in healthcare services, high levels of employment and political ...