The Importance of Fixing the Poverty Threshold for the Formation of a Sustainable Economy

DOI

10.2991/assehr.k.220208.042How to use a DOI?

Keywords

Poverty threshold; Relative poverty; Absolute poverty; Subjective poverty; Deprivation; Index of material deprivation

Abstract

Implementing the concept of sustainable development in practice requires an adequate definition of the boundary (threshold) of poverty. Poverty is a twofold phenomenon, on the one hand, it is the result of the current wage system; on the other hand, it is the basis for the formation of the labour force and its goals in the labour market in the future, i.e. in fact, the possibilities of sustainable economic development. Based on this basis, the paper analyses the approaches to determining the poverty threshold used in foreign and domestic practice, assesses the possibility of their use for an actual assessment of the poverty threshold in Russia in modern conditions, considering the challenges facing our economy. The current economic situation in 2020-2021 in connection with the COVID-19 pandemic and the unfolding inflation has sharply exacerbated the problem of poverty and, in our opinion, confirm the incorrectness (within the framework of the goal of forming a sustainable economy) of using the median wage to fix the poverty threshold.

Copyright

© 2022 The Authors. Published by Atlantis Press SARL.

Open Access

This is an open access article under the CC BY-NC license.

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TY  - CONF
AU  - Alla Leonidova
AU  - Maria Ozerova
AU  - Anastasia Sharopatova
PY  - 2022
DA  - 2022/02/22
TI  - The Importance of Fixing the Poverty Threshold for the Formation of a Sustainable Economy
BT  - Proceedings of the IX International Scientific and Practical Conference “Current Problems of Social and Labour Relations" (ISPC-CPSLR 2021)
PB  - Atlantis Press
SP  - 238
EP  - 243
SN  - 2352-5398
UR  - https://doi.org/10.2991/assehr.k.220208.042
DO  - 10.2991/assehr.k.220208.042
ID  - Leonidova2022
ER  -