poverty   23311

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Why Poverty Is Like a Disease - Nautilus - Pocket
Emerging science is putting the lie to American meritocracy. On paper alone you would never guess that I grew up poor and hungry. My most recent annual salary was over $700,000. I am a Truman National Security Fellow and a term member at the Council on Foreign Relations.
long_form_writing  poverty 
1 hour ago by CMSFoundation
The Measure Of A Tragedy : NPR
GARCIA: Take a typical Venezuelan worker, someone who makes the minimum wage. If he spent every single bolivar from his wage on that cheapest food available, how many calories could he buy in one day? Here is the incredible and frankly devastating answer from Ricardo.

HAUSMANN: This is a calculation that went from buying 57,000 calories a day in 2012 to buying less than 900 calories today.

GARCIA: Nine hundred calories - that's today's Planet Money indicator. Nine hundred calories is all the calories that the minimum wage will get you in Venezuela after working an entire day.

HAUSMANN: Which means that, you know, if a person normally spends over 2,000 calories a day, it means that a worker cannot feed myself, let alone his family. He - and that's assuming he doesn't spend anything in clothing, in transportation, in medicines, in housing, et cetera. So it just gives you a sense of how catastrophic is the collapse in income.

VANEK SMITH: To put that 900 calories in context, in the United States, you can buy more than 100,000 calories in one day on the minimum wage. So Venezuelan people are starving. And Ricardo told us about a couple of other similar statistics that also tell this story.

HAUSMANN: The other thing we did is we measured it just in eggs. How many eggs can you buy? Well, before, you know, in a day you could buy several dozen eggs. Now you can buy two eggs. That's it - two eggs. And that was important for us to calculate because it's not just calories. It's also proteins that people need. So, you know, right now people in Venezuela can buy two eggs. Recently people have calculated, what is the cost of a Big Mac - how long does it take you to work to make enough to buy a Big Mac? And in Venezuela right now, that's a month and a half.
economics  venezuela  poverty 
yesterday by gimber
Alphachat: Ricardo Hausmann on the tragedy in Venezuela
So official numbers would suggest that GDP in per capita terms since 2013 has fallen 37%. If you add to that the impact of the decline in the price of oil to income, national income has declined by over 50%. But if you exclude from that the GDP generated by the government itself which is just estimated by the number of employees the government has, or if you disregard other parts of the economy that are grossly mismeasured, just look at goods like agriculture, manufacturing, mining, even construction and so on, that part of the economy declined by in excess of 55%.
So there’s been this massive collapse in output, massive collapse in incomes. If you look at the minimum wage, which in Venezuela given this incredibly fast inflation and so on has become the median wage, the median wage if you estimate it at the black market rate is something like $20 a month.
But you might say: Well, but, what is this black market rate? What does that mean? So we have been measuring the minimum wage in calories. We look at the market prices of things and we calculate what is the cheapest calorie a family could buy? And if you do that calculation in 2012, a family could buy 55,000 calories a day with the minimum wage. And now a family can buy 7,000 calories. So if you think that a median wage has to sustain a family of five, well five people could not eat enough calories if they spent 100% of their income in the cheapest calorie and no income in housing, footwear, transportation or anything else.
So as a consequence, incomes per capita have collapsed to a degree that it is hard to transmit and understand, and that collapse in private incomes is accompanied by a collapse in public services like healthcare for example. They are just beyond belief. People have been writing pieces that I’m sure are going to win a Pulitzer Prize, because it’s just astonishing how life expectancy rates, how the prevalence of diseases that had been eradicated… Venezuela was the first country to eradicate malaria back in 1961. Even before the US did. And malaria is back big time. Measles is back big time. There are no drugs for HIV. There are no drugs for hypertension. There are no machines to do dialysis. There are no cancer drugs.
So there’s been an incredible collapse in health standards. And as you know, Caracas is the highest murder city of the world. It beats Central American countries which come second and third as the most violent city in the world. So that is what’s happened to the collapse in living standards.
economics  venezuela  poverty 
yesterday by gimber
Amber Rudd’s denial of the benefits crisis takes political spin to a new level | Frances Ryan | Opinion | The Guardian
The facade did not last long. On the eve of the Brexit vote, the DWP snuck out a change to pension credits that could see couples on universal credit lose as much as £7,000 a year.
Benefits rule changes could cost pensioners in UK thousands a year
From 15 May, new pensioners with partners under 65 can no longer claim pension credit - https://www.theguardian.com/society/2019/jan/15/benefit-rule-changes-could-cost-pensioners-in-uk-thousands-a-year-pension-credit new pensioners whose partners are younger than the state retirement age of 65 can no longer claim a means-tested top-up called pension credit.

Instead they will be forced to claim the much less generous universal credit alongside their younger partners.

The couple rate of universal credit is £114.81 a week compared with £255.25 for a couple receiving pension credit. This amounts to a potential loss of £7,320 a year.

&! There is perhaps no greater skewer to this narrative than the fact some MPs have called for the introduction of a minister for hunger. https://www.theguardian.com/society/2019/jan/10/appoint-minister-for-hunger-to-tackle-uk-food-insecurity-mps-urge
DWP  Universal  Credit  Austerity  CON-servative  Conservative  Pension  poverty  nasty  welfare  state  food  hunger  deprivation  trap 
yesterday by asterisk2a
2018: The Screwed Millennial Generation Gets Smart
TL;DR: millennials earn less than their parents and have been forced to move to suburbs. They're about as conservative, wanting to own homes and raise children.

--

Millenials earn $2000 less than the same age group made in 1980

20%+ of people 18 to 34 live in poverty, up from 14% in 1980

"the GINK generation (as in “green inclinations, no kids”) that she said meant not only a relatively care-free and low-cost adult life, but also “a lot of green good that comes from bringing fewer beings onto a polluted and crowded planet.”"

"millennials are following in the footsteps of previous generations by locating on the periphery major metropolitan areas and Sun Belt cities, most of which are simply agglomerations of suburbs."

"more 18- to 34-year-olds now live with their parents than with spouses or significant others for the first time since the question was first asked in the 1880s"

80% want to buy a home. Many can't due to high prices and low income (https://www.washingtonpost.com/opinions/millennials-arent-buying-homes--good-for-them/2016/08/22/818793be-68a4-11e6-ba32-5a4bf5aad4fa_story.html)

The vast majority of millennials, according to Gallup and others, want to get married and have children. Their top priority, according to Pew, is to be “good parents.”

Despite endless talk about millennials as the group triggering a “back to the city” movement, census data shows that their populations in many core cities are stagnating or declining. In April 2016, the real estate website Trulia found that millennials were rushing out of expensive cities

Since 2010, the 20 to 29 populations have declined in the core areas of much celebrated youth magnets including Chicago (-0.6 percent) and Portland (-2.5 percent). Other areas, like Los Angeles and Boston, have lost millennials since 2015.

for workers between the ages of 22 and 34, rent costs claim upwards of 45 percent of income in Los Angeles, San Francisco, New York, and Miami, compared to closer to 30 percent of income in metropolitan areas like Dallas-Fort Worth and Houston.

18- to 29-year-olds were the age group least satisfied with life in Los Angeles

In the Bay Area, according to ULI, 74 percent of millennials are considering an exit, largely due to high housing prices.

In New York, incomes for people aged 18 to 29 have dropped in real terms since 2000, despite considerably higher education levels. At the same time, rents have shot up by 75 percent.

We have already passed “peak millennial” and are seeing the birth of a new suburban wave

More than 80 percent of 25- to 34-year-olds in major metropolitan areas already live in suburbs and exurbs, according to the latest data—a share that is little changed from 2010 or 2000.

4 in 5 people under 45 preferring the single-family detached houses most often in suburban locales

The income required to buy a home in Silicon Valley ($216,000), San Francisco ($171,000), Los Angeles ($115,000), or New York City ($100,000) dwarfs what is required in places like Orlando ($54,000), San Antonio ($54,000), or Nashville ($47,000).

The Millennial homeownership rates is 37% in Nashville, 29% in San Antonio and 27% in Orlando, compared to under 20% in New York, Los Angeles and San Francisco.

Among the 10 major metropolitan areas whose 25- to 34-year-old populations grew most rapidly between 2010 and 2016, seven have more than 95 percent of their population in suburban or exurban settings.

The top 10 regions with the fastest growth in their 25- to 34-year-old populations since 2000 include nontraditional urban areas such as Austin, Orlando, San Antonio, San Bernardino-Riverside, Las Vegas, Houston, Oklahoma City, and Jacksonville. In contrast, Boston ranks 40th out of 53 metro regions, New York 44th, San Jose 47th, Los Angeles 48th, and Chicago 51st.

The millennial suburb will be different—more walkable, more environmentally sustainable, and likely more connected eventually by autonomous technologies.
USA  millenials  poverty  rent  housing  cost  demographics  cities  statistics 
3 days ago by dandv
The Shutdown Causes Some Parents To Pay Twice for Child Care
Generosity is a beautiful human trait. It’s also a survival tactic. If economically stable communities are going to start implementing the survival tactics of the poor for other reasons — whether it’s to pass the time, meet their neighbors, or just get rid of stuff — they need to recognize that there are still people who rely on community resourcing. And they need to acknowledge that these neighborhood-sharing programs have their roots in low-income communities, whose members have been helping each other stay afloat long before it was trendy.
poverty  america 
5 days ago by corrales
As inequality grows, so does the political influence of the rich - Free exchange
The evidence that concentrated wealth contributes to concentrated power is troubling. It suggests that reducing inequality becomes less likely even as it becomes more urgent. It implies that a vicious cycle of rising inequality may be developing, with a loss of democratic accountability as a nasty side-effect. Some social scientists argue that this is, indeed, the way of things. In “The Great Leveler”, published last year, Walter Scheidel writes that, across human history, inequality inevitably rises until checked by disasters like wars or revolutions.

This is excessively pessimistic. The rich are powerful, but not all-powerful, or uniform in their determination to keep distributional policies off the agenda. And Western democracies still function. If political leaders tried it, they might well find that redistribution is a winner at the ballot box.
inequality  future  poverty 
5 days ago by corrales
China Leads the way in Eradicating Extreme Poverty
A lor of comparing things that don’t compare BUT nice tidbit at the end: using PPP,
China’s economy is already much larger than USA, so pushing for an arms race disastrous for US. exhibit A, Russia.
china  usa  economy  military  growth  Q1  2019  poverty  globalization  comparison  model  capitalism  communism 
5 days ago by csrollyson

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