1 valuable

2 invest

3 pension scheme

4 static

5 belongings

6 flow

7 distribution

8 interest

9 savings

10 inequality

11 extent

12 stocks and shares

13 store

A to lend money to a company or bank in order to earn more money

B ho large or important something is

C the way in which a supply of something, like money, is shared among people

D money put somewhere for later use. for example in the bank

E immobile, not moving

F unfairness

G a way of saving money for when you get old and stop working

H things someone owns, but usually things that can be moved

I if you save money in a bank, you get this extra money for keeping it there

J movement like a river

K important or worth money

L a collection or supply of things kept for later use

M part of the value of a company - people buy and sell these

2. Now read the text again and match each paragraph with the correct heading. There are two extra headings that you don't need.

PARAGRAPH 1

PARAGRAPH 2

PARAGRAPH 3

PARAGRAPH 4

A How governments can create more equality

B Inequalities in income

C Inequalities in wealth

D What income is

E What wealth is

F Why there are inequalities in wealth and income

Poverty

Without a doubt poverty is a huge problem in the world today. Figures suggest that three billion people or half the world's population live in poverty. However, although we associate poverty with developing countries, poverty of some kind also exists in industrialised nations. For example, it is now thought that quite possibly one in every ten Americans lives in poverty. However, poverty means different things to different people. How do economists define poverty?

One measure of poverty is absolute poverty. People live in absolute poverty when they live on or below the poverty line. This is a level of income that is so low that people cannot afford the basic necessities to live, such as food, clothing and shelter. According to the World Bank, these are people who are living on two dollars a day.

       However, there are one billion people in the world who live on less than one dollar a day. The World Bank defines this as extreme poverty.

Few people in industrialised countries live in absolute poverty, but many live in relative poverty. This measure of poverty takes into account the differences that exist in a population between the rich and the poor. For example, some economists say that people who earn less than half the average income live in relative poverty. In Britain, this means 14 million people.

Why does poverty still exist? There is no single answer to this question. In developing countries, causes of absolute poverty include natural disasters like droughts and floods, political corruption and war. However, in many cases people - and whole populations - are caught in a trap: the poverty trap.

People on a low income spend everything they have on daily necessities. They save almost nothing. In order to raise themselves out of poverty, they need education. This costs money. Even when governments provide free schooling, the poor may not send their children because they need them to work. These families cannot afford the cost of sending a child to school. Without education, the children cannot find better paid work. In this way, generations of the same family remain poor.

The same cycle that traps individuals can trap a whole population. Economic growth depends on investment. Investment money comes from savings. A nation that has almost no savings cannot grow economically. This keeps wages low, so again people cannot save and the cycle continues.

Переведите на английский язык:

1.    Богатство может включать в себя ценные вещи, деньги, золото, акции, произведения искусства, землю, собственность, драгоценные камни.

2.    Кроме зарплаты или пособия по безработице, есть и другие источники дохода. Например, проценты по сбережениям в банке или рента с имущества.

3.    Распределение богатства во многих странах остаётся практически без изменений в течение многих лет. Значительная часть богатства концентрируется в руках небольшой части населения. Неравенство трудно искоренить.

4.    Кривая Лоренца показывает соотношение между доходами и населением, т. е. иллюстрирует распределение доходов в условиях рыночной экономики. По ней можно судить о степени неравенства в распределении доходов.

5.    Бедность — одна из глобальных проблем. Хотя она ассоциируется, в первую очередь, с развивающимися странами, бедность до некоторой степени существует и в развитых странах.

6.    Когда мы говорим об абсолютной бедности, мы имеем в виду людей, которые живут за чертой бедности.

7.    Люди, имеющие низкий доход, тратят все деньги на товары первой необходимости. Они не могут сберегать.

Poverty