The lives of the poor are characterized by uncertainty from "summary" of Poor Economics by Abhijit Banerjee,Esther Duflo
The poor live in a state of perpetual uncertainty. They face a multitude of risks every day, from health problems to job insecurity to natural disasters. These uncertainties make it difficult for them to plan for the future or invest in long-term goals. For the poor, the immediate needs of survival often take precedence over everything else. Income can be sporadic and unpredictable for the poor, making it challenging for them to budget or save for emergencies. Many poor families rely on irregular sources of income, such as day labor or seasonal work, which can disappear at any moment. This lack of financial stability perpetuates a cycle of poverty, as the poor struggle to break free from the uncertainties that plague their lives. Health is another significant source of uncertainty for the poor. Without access to quality healthcare, they are at risk of falling ill and incurring high medical expenses. A sudden illness can push a family further into poverty, as they struggle to ...
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