Strengths and weaknesses of multidimensional indicators of poverty

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Strengths and weaknesses of multidimensional indicators of poverty

The Monetary Approach to Poverty: Strengths and Weaknesses 7, Views By Fabian Soria Poverty has been created by the economic and social system that we have designed for the world. It is the institutions that we have built, and feel so proud of, which created poverty.

It is the concepts we developed to understand the reality around us, made us see things wrongly. But what are they exactly talking about? When an academic publishes a paper on poverty reduction, what exactly is he proposing to reduce?

The monetary approach is maybe the most widely used approach to measure and understand poverty. It is the preferred method for economists, since it is highly consistent with neoclassical microeconomic theory, and it has become a widely accepted measure on which many policies and much research rely 12.

The main tools used in this approach are the Poverty Line and the Basic Needs methodologies. The former, by establishing a poverty line, sets a threshold below which people are classified as poor.

The latter, on the other hand, constructs an index based on a series of variables that intend to show if a person has all the minimum goods and services needed to satisfy the basic needs that have been defined by the methodology. These methodologies, however, are far from being free of criticism.

The Monetary Approach proposes a method that sees income or consumption as equivalent or, at least, as the best possible proxy measure of well-being 3. To what extent can this assumption be sustained?

In the past, some of the poverty reduction policies that were applied were not correct, even in the eyes of the Monetary Approach. But the microeconomic theory underlying the Monetary Approach also poses some restrictions and limitations to the understanding of poverty.

Strengths and weaknesses of multidimensional indicators of poverty

By only using an income based understanding, this view seems to be too narrow to fit reality. Social relations are left aside, and other types of welfare are not considered.

These failures make the Poverty Line and other Monetary Approaches an often misleading instrument. Understanding well-being in a more realistic way seems to be the first task to correct some of these problems. However, the theory underlying this understanding of poverty seems to leave little room for this.

Most of the causes of poverty are results of long processes of social, political, economic and cultural power relations. The evolution in time of such processes might be more insightful than trying to understand poverty at a single point in time through income.

The Monetary Approach has led to some useless policies that tried to attack poverty by attacking effects instead of causes of poverty. Hence, these policies have had little or no effect, and today poverty and inequality seem to be defeating most of the efforts of development agencies and governments.

Though the indexes are consistent with standard economic theory, the consistency with reality seems to be questionable. It posts some methodologies that show clear economic inequalities that can help us understand economic poverty. By considering this and by using other instruments that complement these methodologies rather than trying to replace thema better measurement and understanding of poverty can be reached.

It is important to understand what the poverty indicators really mean, because the only way of making use of this data is by a proper interpretation of it.

All the methodologies are supposed to be measuring the same: Before engaging in a battle against poverty, we have to know our enemy… otherwise, the battle might turn out to be against the poor instead of against poverty.

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The author happily receives comments at the following e-mail: Electronic version, pdf, http: A Comparison of Four Approaches. Oxford Development Studies, Vol.Jan 06,  · Continuing the A-Level, or Access course revision help, this blog continues on from one of my previous posts ‘What is Development?’ Below, I have listen the strengths and weaknesses of measuring economic development, in particular, by GDP and GNP.

Summary: This paper reviews some available literature on the Multi-dimensional indicators of poverty as defined by the UNDP in the human development report as the Human Poverty Index and identifies the strengths and weakness of these multi-dimensional indicators.

Distinguish between functionalist and conflict theory's perspectives on inequality and assess the strengths and weaknesses of each position Explain how the government measures poverty. Describe the poor and the dimensions of poverty in the U.S.; include a discussion of the feminization of poverty and homelessness.

Like all statistical indicators, poverty measurements are not just a technical matter but are also a reflection of the social concerns and values attached to the subject in question. Academy of Social Sciences ASS The United Kingdom Association of Learned Societies in the Social Sciences formed in gave rise to the Academy of Learned Societies for the Social Sciences incorporated , which became the Academy of Social Sciences on ASS Commission on the Social Sciences Notes from the meeting on by Ron Johnston.

Comprehensive and meticulously documented facts about income, wealth, and poverty. Learn about the measures, sources, correlates, and trends of economic wellbeing in the U.S.

and across the world.

Multidimensional Poverty Index – Indicators and a Monitoring Framework