Political philosophies

Question 1

poverty

Answer 1

income below the poverty line

Question 2

Impacts of poverty

Answer 2

people have less $, decrease personal decision making skills, pay more (lack of transportation to go to stores of lower prices and cant buy in bulk), higher local prices (lack of competition and higher insurance costs)

Question 3

Why is poverty not easy to measure?

Answer 3

Do you determine poverty from individual or household incomes? based on other forms of wealth? there are is a variation of income through lifespan and there are transitionary income phases

Question 4

Inequality

Answer 4

uneven distribution based on income

Question 5

how is inequality measured?

Answer 5

can be measured in groups, rations or high/low deviations

Question 6

What is the gini coefficient and lorenz curve?

Answer 6

measures inequality line. comparing percent of income to percent of population

Question 7

Mobility

Answer 7

people ability to move between income classes. mobility can be seen as an oppourtunity to combat poverty and inequality

Question 8

what can combat poverty and inequality?

Answer 8

mobility and education

Question 9

Political philosophies

Answer 9

theories on how to deal with poverty, inequality, immobility

Question 10

Utilitarianism

Answer 10

optimal redistribution for societies overall benefit. taking from the rich to give to the poor

Question 11

Issues with utilitarianism

Answer 11

Less productivity. rich will be less productive because their money will be taken from them and poor will be less productive because money is handed to them

Question 12

Liberalism

Answer 12

redistribution based on only helping those who can not help themselves (the worst off/venerable). Idea that all should have their basic needs met. Once above this line does not matter who has more than others.

Question 13

Libertarianism

Answer 13

Focuses on the process not the outcome. They care that everyone had equal opportunity to get rich not who is actually rich.