Final answer:
The 'pull themselves up by their bootstraps' perspective is known as the Individualistic viewpoint, which neglects structural barriers to overcoming poverty. It contrasts with subjective poverty, which varies based on personal perception and is studied under the symbolic interaction perspective.
Step-by-step explanation:
Examining poverty by suggesting that those in poverty could escape their situation if they only 'pulled themselves up by their bootstraps' adopts what is known as the Individualistic viewpoint of a social problem. This perspective places the responsibility of overcoming poverty squarely on individuals, assuming they have the power and capability to change their socio-economic status through personal effort and determination, without acknowledging structural barriers that may hinder upward mobility.
Subjective poverty highlights how poverty is perceived and understood differently around the world. The symbolic interaction perspective emphasizes daily interactions and meanings individuals attach to their circumstances, leading to a more personal and flexible understanding of poverty. This approach contrasts the objective measures of poverty, such as relative or absolute poverty, which are more standardized and less influenced by individual perceptions.
Understanding the concept of poverty requires considering various perspectives, including social scientists' views on relative poverty, absolute poverty, and subjective poverty. Each offers distinct insights into how poverty is experienced and defined globally, its consequences, and how individuals respond to their situation.