When looking at the world’s poor, we first have to define the difference between relative poverty, absolute poverty, and subjective poverty. While global inequality is nothing new, several factors make it more relevant than ever, like the global marketplace and the pace of information sharing.

Researchers try to understand global inequality by classifying it according to factors such as how industrialized a nation is, whether a country serves as a means of production or as an owner, and what income a nation… While those in relative poverty might not have enough to live at their country’s standard of living, those in absolute poverty do not have, or barely have, basic necessities such as food.

global inequality — the concentration of resources in core nations and in the hands of a wealthy minority. relative poverty — the state of poverty where one is unable to live the lifestyle of the average person in the country. subjective poverty — a state of poverty composed of many dimensions, subjectively present when one’s actual income does not meet one’s expectations. debt bondage — the act of people pledging themselves as servants in exchange for money for passage, and are subsequently paid too little to regain their freedom.