article article A new paper on the “poverty trap” of the Irish poor has hit the headlines this week.
The paper by economist Eoin McManus, titled “Poverty Trap”, details how the poor in the country have had “a far greater chance of being trapped in poverty and living in extreme poverty than other countries”.
The paper argues that the Irish have “a much higher poverty rate than other OECD countries and yet they have a lower income gap than those in other countries”, which has made them worse off than other low-income countries.
The report, by McManos, argues that poverty traps are “a structural feature of modern capitalism”.
It also argues that “policymakers and policy makers should look at the nature of poverty traps to understand why these are there”.
This article originally appeared on The Irish Sun.