Key Takeaways Key Points The United States officially defines poverty using the poverty line. The United States officially defines poverty using the poverty line. While some factors that contribute to poverty are the result of individual choices, such as dropping out of school or committing a crime, other factors affect poverty that are beyond individual control. Relative poverty explains poverty as socially defined and dependent on social context. Absolute poverty: A measure of poverty based on a set standard that is consistent over time and between countries, referring to the ability of individuals or groups to meet their basic needs.
Poverty is usually measured as either absolute or relative poverty. The World Bank uses this definition of poverty to label extreme poverty as living on less than US $1.25 per day, and moderate poverty as less than $2 or $5 a day. Poverty operates in a dynamic cycle, with the effects of poverty increasing the likelihood that it will be transferred between generations. Without these resources, poverty -stricken individuals experience disadvantages which in turn increase their poverty. The cycle of poverty can trap families in poverty for generations, and often becomes widespread when economies undergo restructuring from manufacturing-based economies to service-based economies.
Cycle of poverty: The idea that poverty operates in a dynamic cycle, with the effects of poverty increasing the likelihood that it will be transferred between generations. The basic premise of the poverty cycle the idea that poverty is a dynamic process-its effects may also be its causes.
Political Columnist & Commentator
Thomas Sowell was born in North Carolina and grew up in Harlem. As with many others in his neighborhood, Thomas Sowell left home early and did not finish high school. After leaving the service, Thomas Sowell entered Harvard University, worked a part-time job as a photographer and studied the science that would become his passion and profession: economics. After graduating magna cum laude from Harvard University, Thomas Sowell went on to receive his master’s in economics from Columbia University and a doctorate in economics from the University of Chicago. In the early ’60s, Sowell held jobs as an economist with the Department of Labor and AT&T.
But his real interest was in teaching and scholarship. In 1965, at Cornell University, Sowell began the first of many professorships. Thomas Sowell’s other teaching assignments include Rutgers University, Amherst College, Brandeis University and the University of California at Los Angeles, where he taught in the early ’70s and also from 1984 to 1989. Thomas Sowell has published a large volume of writing. Though Thomas Sowell had been a regular contributor to newspapers in the late ’70s and early ’80s, he did not begin his career as a newspaper columnist until 1984.
George F. Will’s writing, says Sowell, proved to him that someone could say something of substance in so short a space. Writing for the general public enables him to address the heart of issues without the smoke and mirrors that so often accompany academic writing. Currently Thomas Sowell is a senior fellow at the Hoover Institute in Stanford, Calif..
Moral Ethics Vs. Business Ethics
We all, whether knowingly or subconsciously, approach life with a moral and ethical framework. The ethical frameworks of small business owners are incredibly important factors that shape how the organization is run. Business ethics is concerned with applying a moral framework to the way organizations do business. Business ethics has both normative and descriptive elements. The normative part of business ethics has to do with understanding how the behavior you and your employees exhibit is related to cultural issues or social upbringing.
The key to normative ethics for small business owners is to understand how your personal beliefs affect the choices you make as a business owner. Incorporating ethical frameworks into business has to be done with a great amount of respect and appreciation for others’ viewpoints. There are several ethical principles that are important for businesses to implement. Failing to implement these principles may hurt your business. These ethical principles include a commitment to managing finances in a responsible way, to avoid fraud and misrepresentation in your operations, to treat employees and customers with respect and dignity, and to give back to the community in which you are located.
Investing in local nonprofit organizations, school groups or community-service projects will increase your brand recognition in the community and will, if done right, bring in new customers to your business. Business ethics can thus be a fruitful venture for small business owners who are willing to take the time to incorporate ethical principles with care and patience.
Empathy Servant-leaders strive to understand and empathize with others. In The Servant as Leader, Greenleaf writes, ―There is something subtle communicated to those being served and led if, implicit in the compact between the servant-leader and led is the understanding that the search for wholeness is something that they have. Servant-leaders seek to convince others, rather than coerce compliance. Servant-leaders must seek a delicate balance between conceptualization and day-to-day focus. Stewardship Servant leaders are often characterized by a strong sense of stewardship.
Servant leaders work hard to help employees develop in a number of ways. Servant-leaders need to connect to others’ developmental needs and actively find ways to help them reach their true potential as employees. Servant-leaders are aware that the shift from local communities to large institutions as the primary shaper of humanity has changed our perceptions and caused a sense of loss. Servant-leaders seek to identify a means for building community among those who are part of the organization. The servant leaders desire to make a difference for others within the organization and will pursue opportunities to make a difference and to impact the lives of employees, the organization and the community-never for their own gain.
Nurturing the Spirit – JOY!! The servant leader is someone who understands the deep human need to contribute to personally meaningful enterprises. The servant leader reminds employees to reflect on the importance of both the struggles and successes in the organization and learn from both.