After reading this chapter, you should be able to:

• Define different conceptions of economic well-being.
   
• Discuss the extent of poverty in the world today.
   
• Identify the causes and devastating consequences of poverty.
   
• Explain the concept of economic inequality not only as it applies to poorer countries but developed countries as well.
   
• Define and discuss some of the alternative approaches to economic well-being.
   
• Explain the role played by the international community in matters of economic well-being.