Growth

• The text discusses the topics of growth, poverty, and inequality.
• Figure 4 compares GDP per capita and GNI per capita in constant and PPA dollars in 2019.
• The text is divided into three main sections: income and growth, poverty, and inequality.
• Income per capita is measured and compared internationally, with growth clubs and convergence discussed.
• Poverty is discussed in terms of monetary measures, evolution and distribution worldwide, and living conditions.
• Inequality is discussed in terms of relative poverty, inequalities, and the Kuznets curve.
• Convergence and divergence are discussed in terms of income and production per capita, with some countries catching up to others while others fall behind.
• The post-World War II growth phenomenon is considered unique in history.
• The text suggests a long-term historical evolution of growth and development.
• The text provides a plan for the topics to be covered.
• Bourguignon (2003) found that elasticity is higher in countries with more equal income distribution.
• Reducing inequality in countries with high inequality can be an effective way to reduce poverty.
• There is an arbitrage between reducing poverty through growth (but with more inequality) or through reducing inequality (which could reduce growth).
• The relative poverty approach defines poverty based on an individual's situation compared to others in society.
• This approach is preferred in developed countries where basic needs are generally met.
• Relative poverty considers those with incomes below a certain multiple of the median (or mean) income as poor.
• The relative poverty approach is affected by the difference in norms between high-income and low-income countries.
• The Kuznets curve shows that inequality initially increases with economic growth but eventually decreases.
• There is a trade-off between income equality and economic efficiency.
• Reducing income inequality can lead to better social outcomes and greater economic stability.

1. The text discusses the topics of growth, poverty, and inequality.
2. It compares absolute and relative poverty and measures poverty through factors such as income and social effects.
3. Inequality is measured through factors such as income distribution and the Gini coefficient.
4. High levels of inequality can negatively impact social cohesion.
5. The text includes sources from various publications and organizations, such as the World Bank and the OECD.
6. The World Bank has adjusted its poverty threshold over time, based on national poverty thresholds of the poorest countries.
7. The text includes various graphs and charts to illustrate data on poverty and inequality.
8. The authors argue that understanding poverty and inequality is important for overall economic development.
9. The text also discusses the concept of "clubs of convergence" in terms of income growth.
10. The text includes an annex section with additional data and information.

Test your knowledge on the critical topics of growth, poverty, and inequality with this insightful quiz. Explore the different measures and approaches used to understand poverty, including absolute and relative poverty, income inequality, and the impact of social factors. The quiz also delves into the concept of "clubs of convergence" and the historical evolution of growth and development. See how much you know about the trade-offs between reducing poverty through growth or equality and the impact of high levels of inequality on social cohesion. With various graphs