Poverty is general scarcity or scarcity, or the state of someone lacking a certain amount of material goods or money. It is a multifaceted concept, encompassing social, economic and political elements. Poverty appears to be chronic or temporary and, in most cases, is closely related to inequality. Being a dynamic concept, poverty is changing and adapting to consumption patterns, social dynamics and technological changes. Absolute poverty or destitution refers to the deprivation of basic human needs, which commonly include food, water, sanitation, clothing, shelter and healthcare. Relative poverty is contextually defined as economic inequality in the place or society where people live. After the industrial revolution, first introduced in 1990, the dollar-a-day poverty line measured absolute poverty by the standards of the world's poorest countries. The World Bank set the new international poverty line at $1.25 per day for 2005. but they have been updated to $1.25 and $2.50 per day. Absolute poverty, extreme poverty or absolute poverty is "a condition characterized by severe deprivation of basic human needs, including food, drinking water, sanitation, health, housing, education and information. It depends not only on income but also on access to services." The term "absolute poverty", when used in this way, is usually synonymous with "extreme poverty": Robert McNamara, the former president of the World Bank, described absolute or extreme poverty as "...a condition limited by malnutrition, illiteracy, disease, squalid environment, high infant mortality and low life expectancy that fall below any reasonable definition of human decency." Australia is one of the richest nations in the world. In his article published in Australian Policy Online, Robert Tanton notes that, "While this amount is appropriate for third world countries, in Australia, the amount required to meet these basic needs will naturally be much higher because the prices of these basic necessities are in 1993, and until 2005, absolute poverty was $1.08 per day for all countries based on purchasing power parity, after adjusting for inflation to the 1993 US dollar. In 2005, after extensive studies of the cost of living around the world, the World Bank increased the global poverty line measure to reflect the observed higher cost of living. Now, the World Bank defines extreme poverty as living with less of $1.25 a day, and moderate poverty with less than $2 or $5 a day. In 2001, 1.1 billion people had consumption levels of less than $1 a day and 2.7 billion lived on less than. 2 dollars a day. the equivalent amount of local currency determined by the exchange rate. Rather, it is determined by the purchasing power parity rate, which would look at how much local currency is needed to buy the same things a dollar could buy in the United States. while in India it was 1 dollar a day. These different poverty thresholds make it qualitatively difficult to compare data between each nation's official reports. Some scholars argue that the World Bank's method sets the bar too high, others argue that it is low. Still others suggest that the poverty line is misleading because it measures everyone below the poverty line equally, when in reality someone living on $1.20 a day is in extreme poverty.