This review offers a framework for studying the measurement, consequences, and sources of poverty in times of crisis. Recent crises—such as COVID-19, the Great Recession, and environmental disasters—expose limitations of the standard social science toolkit for studying poverty and offer lessons for improving poverty and policy research. Regarding measurement, evidence suggests that the intrayear volatility of incomes and blurred boundaries between resource-sharing units deserve greater focus in poverty measurement debates. Regarding consequences, research emphasizes the need to quantify poverty’s distinct roles as a risk factor versus stratifying feature during crises. Regarding sources, evidence from recent crises offer direct tests of competing theories of poverty and offer clear lessons for policy strategies to reduce poverty. I conclude that sociologists’ conceptual toolkit is uniquely well-suited to capture the multifaceted nature of poverty; the discipline should more forcefully incorporate its principles into a renewed study of poverty and public policy.