Adam Smith himself closely embraced a relative definition of poverty, arguing that to be poor was to have to go without what was needed to be a “creditable” member of society. He noted that, in his day and age, a man needed a linen shirt if he was to appear in public “without shame.” What defines being poor is not just being without a shirt (any shirt), but being without the means to be minimally respected in a particular society at a particular time.
Poverty is not only about money. It goes beyond that. Its about respect as well.