Poverty trap
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- the theory of how welfare support can affect employment, known in Britain as the "poverty trap", see Welfare trap
A poverty trap is a self-reinforcing mechanism which causes poverty to persist. If it persists from generation to generation, the effect can reinforce itself as a "cycle of poverty", if steps are not taken to break the trap.
In the developing world, many factors can contribute to a poverty trap, including: limited access to credit and capital markets, extreme environmental degradation (which depletes agricultural production potential), corrupt governance, capital flight, poor education systems, disease ecology, lack of public health care, war and poor infrastructure.
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