Week4
Week4 Relative poverty What is relative poverty? Unlike absolute poverty I mentioned in my last blog, relative poverty is a condition where household have less than one half of the average income. This means the person can be poor in relative sence, but not in absolute sence. This is defined in compraision to others financial situation, so it can happen in almost every countries introducing capitalism. (In communisit nations, it IS possible to eleminate financial desparities by having everything under control, but unfortunately as the history shows us, it's not the ideal economic policy) Relative poverty in Japan According to ministry of health, labour and walfare, almost 15 % of people are said to have been in relative poverty,earning 1.27 million yen or less in a year. That means one in six people are financially left behind. If this situations remains unfixed for several years, then the person is in constant or persistive poverty which is extremely hard to get out ...