11. External Variables and Vulnerability
The chapter discusses the multifaceted concept of vulnerability, emphasizing the interplay between exposure to various shocks and the social and institutional structures that define individual risk levels. It introduces key frameworks such as the sustainable livelihood approach, highlighting the importance of resilience and self-dependence in maintaining livelihoods against external shocks. Additionally, the chapter explores the relationship between vulnerability, capital assets, and coping mechanisms in different socio-economic contexts.
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What we have learnt
- Vulnerability arises from exposure to shocks, trends, and seasonal changes.
- The sustainable livelihood framework focuses on the resilience of the poor and their adaptive capacities.
- Human, social, financial, physical, and natural capitals play crucial roles in determining vulnerability and coping strategies.
Key Concepts
- -- Vulnerability
- The susceptibility to harm or damage due to exposure to shocks, trends, and seasonal fluctuations.
- -- Sustainable Livelihood Framework
- A model developed to assess and enhance the abilities and resilience of the poor in sustaining their livelihoods against shocks.
- -- Human Capital
- The knowledge, skills, and health that individuals possess, directly influencing their capacity to earn and adapt.
- -- Social Capital
- The relationships and networks that provide individuals with support, trust, and access to opportunities.
- -- Capital Assets
- The resources individuals use to maintain their livelihoods, including human, financial, social, physical, and natural capital.
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