World Poverty is Shrinking Rapidly, New Index reveals
▻http://www.globalpolicy.org/social-and-economic-policy/poverty-and-development/general-analysis-on-poverty-and-development/52358-world-poverty-is-shrinking-rapidly-new-index-reveals.html?itemid
The conventional method of measuring poverty based on income levels offers a poor analysis of the state of global poverty. The previous formula of people living on less than $1.25 per day is now replaced by a more comprehensive Multidimensional Poverty Index (MPI) in the latest UN report. It allows for poverty to be measured through a set of 10 indicators, namely nutrition, child mortality, years of schooling and attendance, cooking fuel, water, sanitation, electricity, assets and a covered floor; all essential for alleviating poverty. A new study by the University of Oxfords’ poverty and human development initiative uses this index to calculate poverty projections and finds that acute poverty in impoverished countries will likely be eliminated within the next 20 years. It is attributed in part to the work of aid agency investments in healthcare, education, housing, infrastructure access etc. Although there is concern that development progress is inconsistent globally, the MPI offers a more robust approach to monitoring progress. Critics of the MPI, however, point that it is convenient to change the index to obtain a more satisfactory result.