Research in Bangladesh reveals the tipping point under which the poor can’t break into higher-income opportunities
Poverty matters and it lasts. It reduces wellbeing today and limits life chances tomorrow. That’s why it’s a disgrace that in the UK the incomes of the poorest families actually fell in the pre-crisis years, leaving them no higher in 2018-19 than in 2001-02. That’s not what progress looks like, but is what big benefit cuts produce.
For developing countries, the big question is why poverty lasts. That’s true between countries, where economic theory tells us incomes should converge but economic reality shows huge, lasting gaps. More than 700 million people lived in extreme poverty in 2015.
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