Question

In: Economics

1.) What is meant by "Systemic Poverty" and "Generational Poverty"? Are the two terms interchangeable?

1.) What is meant by "Systemic Poverty" and "Generational Poverty"? Are the two terms interchangeable?

Solutions

Expert Solution

look nobody wants to be poor, it's very difficult to search for food and inhabitants for each and every day of our life, everyone wants a smooth and luxurious life rather than struggling for basic needs thus poverty is something which cannot be eradicated but at least sometimes people can be protected from it by taking some strategic and wise decision but again there are many people who even don't have that much capability because they are born in poverty that they can even think about taking some decision for them which will help them in elevating them from poverty thus there are various different type of poverty exist in the society and here we will discuss two of its kind. Systemic Poverty is something which people get as legacy from their ancestor this is something which their families are facing since many generations and it has occurred not due to any wrong financial decision that was taken by them but it is all because of non-uniform distribution of resources somewhere in the past and thus when the people are born as poor even they don't have that much expertise and knowledge that they can come out of it and due to it they remain poor and it continues for many generations. whereas in the case of Generational Poverty it mainly occurred due to any natural calamity or due to some inefficient financial decision which has affected them the most in past so basically if a family is suffering from poverty since during his last two generations they can be defined as generational poverty but still they have hope to get it out of it. thus by looking at the definition of both the type of poverty we can say they cannot be interchangeable because in case of Systemic Poverty its a kind of legacy that newborn is getting since centuries they remained poor whereas in case of Generational Poverty it mainly occurred either due to financial issue or because of some unavoidable health or other serious issues which have affected their financial condition thus we can say they cannot be interchangeable.


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