Time Deficits and Hidden Poverty in Korea

Kijong Kim (), Thomas Masterson and Ajit Zacharias

Economics One-Pager Archive from Levy Economics Institute

Abstract: Official poverty lines in Korea and other countries ignore the fact that unpaid household production contributes to the fulfillment of material needs and wants that are essential to attaining a minimum standard of living. By taking household work for granted, these official estimates provide an inaccurate accounting of the breadth and depth of poverty--and can lead policymakers astray.

Date: 2014-01
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