Unlike aversion to inequality, aversion to poverty resists formalization in welfare economics. One way to assign … normative significance to the poverty line is to allow the welfare measure to exhibit a discrete loss from poverty (DLP) at z …

, their distribution and poverty depend very crucially on the hypothesis made on the evolution of returns to education and …

(if everybody's income goes up, who cares if inequality is up too?), and the argument is made that only poverty … poverty solely and not with inequality is internally inconsistent. …