Abstract
How did we come to think that eliminating poverty is a legitimate goal for public policy? What policies emerged in the hope of attaining that goal? The last 200 years have witnessed a dramatic change in thinking about poverty.
Mainstream economic thinking in the eighteenth century held that poverty was necessary and even desirable for a country's economic success. Today, poverty is more often viewed as a constraint on that success. In short, poverty switched from being seen as a social good to a social bad. This change in thinking, and the accompanying progress in knowledge, has greatly influenced public action, with heightened emphasis on the role of antipoverty policy in sustainable promotion from poverty, as well as protection. Development strategies today typically strive for a virtuous cycle of growth with equity and a range of policy interventions have emerged to help ensure that outcome. An expanding body of knowledge has taught us about how effective those interventions are in specific settings, although many knowledge gaps remain.Keywords
Poverty, Inequality, Growth, Redistribution, Antipoverty policy
JEL Classification Codes
B00, I38, O15
22.1.
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