(Newscko) ─ Global poverty is a less-discussed and yet highly prevalent issue. The truth is that the majority of the global population is living in poverty. Global data shows that 85% of the world live on less than 30$ a day. And out of them, two-third on less than 10$ a day. However, every tenth person is living on less than 1.9$ per day, and that is extreme poverty.

Although poverty is an issue, extreme poverty is a more significant concern. It is because people living in extreme poverty cannot fulfill some of the basic survival needs. As per the World Bank or UN, extreme poverty is when a person is living on less than 1.90$ (international dollar) a day. An international dollar is a hypothetical currency with buying power equal to the US dollar and is used in international statistics.

However, it is worth understanding that poverty is also measured by pricing, which varies significantly among countries. It means that what a person can buy for 1.90$ in each nation varies considerably. Thus, the World Bank also calculates purchasing power parity.

Further, the World Bank cautions that even people living much above this poverty line may face many hardships. This poverty line has been created to pay utmost attention to the poorest people in the world. Therefore, the actual number of people living in extreme poverty may be higher.

Why does understanding poverty matter?

Poverty has a direct association with the welfare of the population. Poor people are often hungry, ill-educated, deprived of electricity, and have no access to healthcare. Thus, it is one of the major problems faced by the world.

However, all is not so discouraging. Extreme poverty has continually declined for the last two centuries, unlike the olden times when just a tiny elite portion of the population could enjoy life. Most of this progress has been made due to industrialization.

Factors that are closely linked to poverty are global health and education. However, these too have improved considerably in the last two centuries.

Types of poverty

Measuring poverty just based on the daily or monthly income is not the right way. It is because, in this way, many people living in poverty do not get sufficient attention. Moreover, using these simplistic measures leaves out poor people in more developed nations.

Thus, poverty can be absolute, but it can also be relative. There is situational poverty, generational poverty, rural poverty, and urban poverty. For example, a person living in a metropolitan area may have healthy daily income yet may live in extreme poverty and without a home. On the other hand, a person with a similar income may live in much better conditions in rural areas.

Other types of poverty

Some researchers propose a broader understanding of poverty that looks beyond financial means. Thus, poverty is not just economic. It could be bodily, mental, cultural, spiritual, political, societal poverty. Considering the broader definition of poverty may help manage specific issues left out by looking solely at economic poverty. Indeed, as NursesPrime calls for to end poverty, immediately need to end corruption.