Advertisement

Well-Being and Poverty

Part of the Economic Studies in Inequality, Social Exclusion and Well-Being book series (EIAP, volume 2)

Abstract

The assessment of well-being for poverty analysis is traditionally characterized according to two main approaches, which, following Ravallion (1994), we will term the welfarist and the non-welfarist approaches. The first approach tends to concentrate in practice mainly on comparisons of “economic wellbeing”, which we will also call “standard of living” or “income” (for short), As we will see, this approach has strong links with traditional economic theory, and it is also widely used by economists in the operations and research work of organizations such as the World Bank, the International Monetary Fund, and Ministries of Finance and Planning of both developed and developing countries. The second approach has historically been advocated mainly by social scientists other than economists and partly in reaction to the first approach. This second approach has nevertheless also been recently and increasingly advocated by economists and non-economists alike as a multidimensional complement to the unidimensional standard of living approach.

Keywords

Poverty Alleviation Capability Approach Poverty Measurement Deadweight Loss Commodity Bundle 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

Copyright information

© Springer Science+Business Media, LLC 2006

Personalised recommendations