Multidimensional Poverty as a Global Problem of Modern Socio-economic Development

Abstract

The article proves that poverty in today’s conditions is not only a difficult, but still not overcome, satellite of economic development, but also a phenomenon that is becoming more diverse. Poverty reduction is one of the necessary conditions for the transition to sustainable development and the improvement of the quality of life. A conclusion is made that poverty is a multidimensional category, for measuring which requires an integrated approach, assessing poverty from different points of view. Based on the analysis of modern conceptual approaches to the assessment of well-being, a system of various aspects of poverty is proposed, which includes not only insufficient income or consumption, but also poor health, nutrition and education, lack of social connections, insecurity and helplessness. The economic, social, demographic, educational, qualification, institutional, regional-geographical causes of poverty are systematized. The specificity of gender inequality is considered, and the influence of gender inequality on the socio-economic and demographic development of society is confirmed. New aspects of poverty are considered: gender, age, children. А «poverty trap» is studied as an economic phenomenon, which becomes significant and relevant due to its social acuity and possible negative and, under certain conditions, uncontrollable consequences. The sources of «poverty trap» formation, its stages and possible ways of overcoming «poverty trap» with the help of effective institutes and civil society are considered. The division of poverty into an economic and social one is considered, and their interdependence is proved. The specifics of inclusive and extractive institutes are analyzed and it is proved that the model of development with domination of inclusive institutions is an effective method of struggle against poverty. Proposals for reducing the rates of falling of living standards through the improvement of institutional mechanisms have been developed. The problem of poverty in Ukraine is investigated and it is proved that in our country it has catastrophic scales and consequences. A number of changes in the economic, political, social and cultural spheres are proposed to reduce the level of poverty in Ukraine.