Chapter 10 Flashcards
Poverty
condition of deprivation due to economic circumstances
Lyndon Johnson 1960’s
WAR ON POVERTY
ANTIPOVERTY PROGRAMS: programs for education, job training & placement, housing
Perverse Incentives
rewards structures that lead to suboptimal outcomes by stimulating counterproductive behavior
Unintended Consequences
results of a policy that were not fully anticipated at the time the policy was implemented
Culture of Poverty Theory
poor people adopt certain practices in order to adapt and survive in difficult economic situations
Underclass
negative view of poor people
Absolute Poverty
point in which a households income falls below the necessary level to purchase food to physically sustain members
Relative Poverty
measurement of poverty based on a percentage of the median income in a given location