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Discuss Marcus Hansen's principle of third-generation interest. Provide instances that have supported this principle.
Poverty
A condition where individuals or communities lack the financial resources to meet basic needs such as food, shelter, and healthcare.
Labor-Force Experience
The accumulated skills, knowledge, and expertise that individuals gain from participating in the workforce over time.
In-Kind Transfer
A type of assistance provided by the government where goods and services are given to individuals instead of cash.
Welfare Programs
Welfare programs are government-sponsored initiatives designed to provide financial or other aid to individuals or groups in need, aiming to promote the basic physical and material well-being of its citizens.
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