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Subject. This article considers poverty as a global economic problem and explores its level in the countries of the world. Objectives. The article aims to conduct a comparative analysis of the level of poverty of the population in the countries of the world according to international and national criteria. Methods. For the study, we applied a comprehensive approach using comparison, analysis and synthesis, and the normalized estimate method. Results. A comprehensive study of poverty shows that the phenomenon of poverty is inherent in all economies of the world, and the situation of the poor is deteriorating and complicated by the spread of the COVID-19 pandemic. Conclusions. The activities of international organizations to overcome poverty bring good results – the percentage of the population in the countries of the world beyond the threshold of extreme poverty is decreasing. Overcoming the problem of hunger and extreme poverty, countries face a new challenge, namely, ensuring a decent standard of living and establishing adequate national criteria for the poverty line.
Subject. This article considers poverty as a global economic problem and explores its level in the countries of the world. Objectives. The article aims to conduct a comparative analysis of the level of poverty of the population in the countries of the world according to international and national criteria. Methods. For the study, we applied a comprehensive approach using comparison, analysis and synthesis, and the normalized estimate method. Results. A comprehensive study of poverty shows that the phenomenon of poverty is inherent in all economies of the world, and the situation of the poor is deteriorating and complicated by the spread of the COVID-19 pandemic. Conclusions. The activities of international organizations to overcome poverty bring good results – the percentage of the population in the countries of the world beyond the threshold of extreme poverty is decreasing. Overcoming the problem of hunger and extreme poverty, countries face a new challenge, namely, ensuring a decent standard of living and establishing adequate national criteria for the poverty line.
The “new development economics” (also called behavioral development economics) consists of microeconomic experimentation based on behavioral economics and randomized controlled trials. This approach would illuminate the close relationships between preferences, culture, and institutions and point to new political opportunities. This paper describes and analyzes the new development economics’s main components and argues that the new development economics is just like the old development economics in terms of its central assumptions, objectives, and recommendations. Despite the growing recognition that social, cultural, and institutional factors profoundly affect decision-making, old and new development economists generally lean toward the extreme reductionism of the neoclassical paradigm. It is observed that research on the essence of economic development has been neglected or treated inadequately in the school’s literature. It is suggested that the findings of the Austrian theory of dynamic efficiency, based on human action’s creative and entrepreneurial feature, may allow the development economics to overcome its analytical challenges.
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