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Why some of the countries richer than the other
Root causes of poverty
Poverty in developing countries definition
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Poverty is the state of having little or no money and few or no material possessions. The World Bank defines poverty as the inability of people to attain a minimum standard of living, encompassing low income, deprivation of basic needs, low levels of health and education, poor access to clean water and sanitation, insufficient physical security and lack of voice. According to the United Nations, poverty is “the inability of getting choices and opportunities, a violation of human dignity”.
Concern about poverty has a long tradition, and many economists fixed their studies on poverty and development. Why are some countries poor and other rich? This question has stumped many experts for centuries, trying to develop and construct theories to answer this debate, trying to find a solution. Is there one answer and one universal solution, or each theory and result depends on the country?
As we know, a crucial issue in macroeconomics is government intervention: can the markets, left alone, reach long-run equilibrium, or does the government need to intervene? The reality is that all governments nowadays intervene through their macroeconomic policies to achieve certain objectives and improve the overall performance of the economy.
Throughout this paper, we will encounter different theories and points of view which attempt to explain poverty and to identify the link between poverty, poverty reduction and macroeconomic policy.
Why are some countries rich and others poor? This question has stirred speculation among many scientists who have resorted to multi-disciplinary approaches in accordance with explanatory theories. The reasons why the world has split into socio-economic levels with further divisions within the society itself are ...
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... favorable and that a blanket fits all approach might not yield the best results for the country under study.
Bibliography
Acemoglu, D. & Robinson, J. (2012) Why Nations Fail. New York City: Crown.
Diamond, J. (1997) Guns, Germs and Steel: The Fates of Human Societies. New York City: W. W. Norton & Company
Lipjhart, A. (1969) Consociational Democracy. World Politics, 21(2).
Stiglitz, J. (2013). The Price of Inequality: How Today's Divided Society Endangers Our Future. New York City: W. W. Norton & Company; 1 edition
Tsangrides, C. & Ghura, D. & Latte, C. (2000). Is Growth Enough?Macroeconomic Policy and Poverty Reduction. Williams College.
Hailu, D. and Weeks, J. (2011) Macroeconomic Policy for Growth and Poverty Reduction: An Application to Post-Conflict and Resource-Rich Countries. Economic and Social Affairs. DESA Working Paper No. 108
Although poverty has minimized, it is still significant poverty which is characterized by a numerous amount of things. There are two types of poverty case and insular. “Case poverty is the farm family with the junk-filled yard and the dirty children playing in the bare dirt” (Galbraith 236)Case poverty is not irretraceable and usually caused if someone in the household experiences “ mental deficiency, bad health, inability to adapt to the discipline of industrial life, uncontrollable procreation, alcohol, some educational handicap unrelated to community shortcomings” (Galbraith 236).Case poverty is often blamed on the people for their shortcomings but on some levels can be to pinpoint one person's shortcomings that caused this poverty. Most modern poverty is insular and is caused by things people in this community cannot control. “The most important characteristic of insular poverty is forces, common to all members of the community, that restrain or prevent participation in economic life and increase rates of return.
Poverty is not just an issue reserved for third world countries. Instead, poverty is a multifaceted issue that even the most developed nations must battle
Poverty is lack of money to the point that the individual cannot afford their basic needs. There are two types of poverty, which are absolute and relative. Absolute poverty is lack of basic needs for a long period of time that puts your life in danger, which opposes with relative poverty, which covers the vital and biological needs like food, clean water, and basic housing. (poverties.org, 2011)
Poverty in Developing and Less Developed Countries The world includes less developed countries and developing countries. Less developed countries are countries considered to be poor and often contain many people who are in absolute poverty. Developing countries are countries like India, which are gaining in wealth. There are two types of poverty within the world.
Poverty is such an important issue to address, not only for those suffering directly from it, but because high levels of poverty decrease GDP, damaging the economy, thus creating an endless, viscious cycle. “Not only is the reduction of poverty important for those affected, but it also has an impact on welfare spending,
Poverty is general scarcity, dearth, or the state of one who lacks a certain amount of material possessions or money. It is a multifaceted concept, which includes social, economic, and political elements (Google definition). There are two types of poverty, absolute poverty and relative poverty. Absolute poverty is measured relative to a fixed standard of living that is consistent over time and between countries. Relative poverty on the other hand is measured relative to the living standards in some particular society and varies both over time and between societies as
Poverty is a global epidemic that contributes to the deaths of millions each year. However, poverty is more prominent in some areas around the world than others. The Oxford dictionary defines poverty as the state or condition of having little or no money, goods, or means of support, but it’s so much more. Poverty can be defined as being hungry, lacking shelter, being unable to go to school, being unable to see a doctor, or being powerless and having a lack of freedom. The reason behind the many descriptions of poverty is that poverty has many faces, and its definition changes depending on the place and time, however the effects of poverty on the poor are always the same.
Poverty is general scarcity or dearth, or the state of one who lacks a certain amount of material possessions or money. It is a multifaceted concept, which includes social, economic, and political elements. Poverty seems to be chronic or temporary, and most of the time it is closely related to inequality. As a dynamic concept, poverty is changing and adapting according to consumption patterns, social dynamics and technological change. Absolute poverty or destitution refers to the deprivation of basic human needs, which commonly includes food, water, sanitation, clothing, shelter and health care.
Poverty can be described as many things, it can be described as hunger, lack of shelter, not having access to school, not knowing how to read and much more. Despite the definitions, one thing we know for sure is that poverty is a complex societal issue. Poverty is a large cause of social tensions and threatens to separated a nation because of the issue of inequalities, more specifically, income inequality. Poverty is a main impact of globalization, it can affect a whole nation by furthering inequalities. Overall, has affected all of developing countries and has a crucial impact on developed countries.
In order for any country to survive in comparison to another developed country they must be able to grow and sustain a healthy and flourishing economy. This paper is designed to give a detailed insight of economic growth and the sectors that influence economic growth. Economic growth in a country is essential to the reduction of poverty, without such reduction; poverty would continue to increase therefore economic growth is inevitable. Through economic growth, it is also an aid in the reduction of the unemployment rate and it also helps to reduce the budget deficit of the government. Economic growth can also encourage better living standards for all it is citizens because with economic growth there are improvements in the public sectors, educational and healthcare facilities. Through economic growth social spending can also be increased without an increase of taxes.
The question is, what is poverty? Poverty is about not having enough money to meet basic needs of life, including food, clothing, and shelter. Nevertheless I believe that poverty is much more that not having enough money. The World Bank Organization describes poverty as, “Poverty is hunger. Poverty is the lack of shelter. Poverty is being sick and not being able to see a doctor. Poverty
Economic growth is the most effective instrument for reducing poverty and enhancing the quality of life in developing countries. The benefits brought about from economic growth is strong growth and business opportunities enhance incentives. This may lead to the rise of a strong and growing group of entrepreneurs, which should generate pressure for enhanced administration. Strong economic growth therefore advances human development, which in turn promotes economic growth. But, under different conditions, comparative rates of development can have altogether different consequences for neediness, the occupation prospects of poor people and more extensive pointers of human development. The extent to which growth decreases neediness depends on the extent to which the poor take an interest in the growth process and share in its returns (Riley, G.
Poverty is a major problem in the United States today. Social, economical, political, and cultural factors all contribute to poverty. Education and economic development are two major issues that will help prevent poverty. The United States Census Bureau defines poverty as an "economic condition in which people lack sufficient income to obtain basic needs for food, housing, clothing, health services and education." In other words, poverty is powerlessness, a lack of representation and freedom. Poverty is an issue that the world faces everyday.
Poverty is generally defined as a state of deprivation in well-being. The conventional perspective connects well-being basically to control over commodities, so the poor are individuals who do not have sufficient income or consumption to place them above some adequate bare minimum threshold (Lyman et al, 2004). Poverty is also tied to a particular type of consumption, for instance people may be considered health poor, house poor or food poor. The poverty dimensions can often be determined directly. For instance it can be measured by assessing malnutrition or levels of literacy (Alla...
What is poverty? Well, according to Webster's Third New International Dictionary, poverty is "lack of money or material possessions; poor." Two-thirds of the world's population fits this definition. I know that many times we think of being poor as not being able to buy the car we want or take the trip we can only dream about. However, being poor, living in poverty, hits a lot lower than that. For example, a resident of the country of Chad will only bring in $100 each year. Since many people can make more than that in one week, some in one day, can you imagine having the feed a family of five or six, or even a family of two, on only $100 a year? These are the conditions that exist in poverty-stricken countries.