Poverty is the situation where people don't have enough money to live a decent life. Around the world, over 1.1 Billion people live on less than $1 per day, and over 2.7 Billion live on less than $2 per day.
Poverty comes from numerous causes, physical and economic. Fundamentally, it is either a lack of sufficient resources overall or a failure to adequately share the resources that exist. Every mode of economic management has been blamed, from capitalism to communism, without enough recognition being placed on this core truth. It also matter less where the problem comes from, and more what people are willing and able to do to solve it.