If the household income falls below a certain level, then they are further classified as either living in abject poverty or relative poverty. Individuals or families living on less than US$1.90 a day are considered as living in extreme poverty by global standards. Put in another way, shared prosperity is meaningful as a gauge of how well prosperity is shared within each country. Thus, even in higher-income economies where extreme poverty rates are low, the shared prosperity goal is still highly relevant. Moving forward, a reconceptualisation of how we measure poverty is urgently needed.

Source: New Strait Times February 08, 2020 15:56 UTC