Topics: Bernard Madoff, Ponzi scheme, Charles Ponzi Pages: 3 (792 words) Published: May 25, 2013
The Position of Poverty

In the world we live in today there are only two kinds of poverty as identified by John Kenneth Galbrith in “The Position of Poverty.” Galbrith made a distinction and labeled the distinction as “case poverty” and “insular poverty.” According to Galbrith case poverty is defined as, restricted to an individual and his or her family and often seems to be the caused by alcoholism, ignorance, mental deficiency, discrimination, or specific disabilities. Insular poverty on the other hand affects a group of people in a given area - an “island” within the larger society (406).Galbrith gave reasonable distinctions between the two. I realize a person that is addicted, and has subsumed to the disease of alcoholism can pass some of its traits onto their children, causing them to follow into poverty stricken ways. One’s life choices and charactertics commonly effects a person’s economic status and everyone directly associated with them, especially their children. I also realize a person’s well being in life could depend on the circumstances they’re exposed to within their immediate environment. A persons and their peers’ lack of resources while also facing some sort of deprivation can be due to circumstances beyond their control, such as the closing of a factory or a natural disaster.

After examining the statement made by Galbraith in paragraph 4 I believe he meant that there are certain minimally acceptable standards by which society expects all of its members to adhere to and meet. Usually ones economic status is directly associated with ones educational background. Two people live in the same neighborhood; one is the CFO of a major corporation and vacations yearly out of the country and the other maintains three separate median income jobs in order to live in the same neighborhood and cannot afford to vacation, in order to “keep up with the Jones.” The latter of the two will be looked down upon regardless of...
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