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Concept, nature and scope of economic growth and development
Poverty as a global economic problem
Theoretical approach of poverty
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‘In the world of development, if one mixes the poor and the non-poor [sic] in a program, the non-poor will always drive out the poor, and the less poor will drive out the more poor, unless protective measures are instituted right at the beginning. In such cases, the non-poor reap the benefits of all that is done in the name of the poor’ (Yunus, 1999:42). This quote goes to show how misunderstood the term ‘development’ is in the West, as the root causes of poverty are never fully addressed beforehand in order to assess what type of development is necessary for a country in the Third World. It is more important to look at whether the ways in which the West aids those countries deemed less developed actually works in practice as well as in theory in order to discern whether it is necessary to alleviate poverty beforehand. After all, if the aid does not work then neither development nor the reduction of poverty can take place. There is also a different idea as to what exactly constitutes as poverty; how it is measured, making certain countries less developed than others.
The term ‘development’ has had a different meaning over the years depending on what was necessary in order for a country to be considered ‘developed’ at that time. Once that country was considered developed according to those standards, a new definition repeatedly comes about until the standards of living in that country are equal to those which are said to be the most developed countries in the world. It is essential to not only reduce poverty but at the same time allow a country to develop economically; therefore the alleviation of poverty goes hand in hand with economic growth. As Nederveen Pieterse (2001) suggests, development could refer to being of equal stan...
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...Mackenzie, F. (1992), ‘Development from within? The struggle to survive’ in Taylor, D. R. F and Mackenzie, F. (eds), Development from within: Survival in rural Africa, London and New York: Routledge, pp. 1-32
Nederveen Pieterse, J. (2001), Development Theory: Deconstructions/Reconstructions, London: Sage
Streeten, P. (1977), ‘The distinctive features of a basic needs approach to development’ in International Development Review, Vol. 40, pp. 49-56
White, H. (2002), ‘The measurement of poverty’ in Desai, V. and Potter, R. B. (eds), The Companion to Development Studies, London: Arnold, pp. 32-37
World Vision UK (2009), How does World Vision do development? Available from: http://www.worldvision.org.uk/server.php?show=nav.1636 [Accessed at 23 Dec 2009]
Yunus, M. (1999), Banker to the poor: Micro-lending and the battle against world poverty, New York: Public Affairs
In David Brooks’ op-ed “The Undying Tragedy,” he discusses four main hypotheses regarding poverty and aid in Haiti. His ideas about poverty, as viewed through the modernization, dependency/world-systems, and post-structural theoretical perspectives lead to three different conclusions. Specifically, as viewed though a modernizations lens, the “truths” Brooks puts forth seem fairly in accordance with the perspective, with some minor addendums needed. The dependency and world systems theories again agree with some of Brook’s hypotheses, but would disagree with some of the assumptions he makes in regards to culture and paternalism. Finally, the post-structural theory would find the most problems with Brooks’ claims, likely disagreeing with his assumptions about the effects of culture on poverty and his view of the development process.
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
All over the world, disparities between the rich and poor, even in the wealthiest of nations is rising sharply. Fewer people are becoming increasingly “successful” and wealthy while a disproportionately larger population is also becoming even poorer. There are many issues involved when looking at poverty. It is not simply enough (or correct) to say that the poor are poor due to their own (or their government’s) bad governance and management. In fact, you could quite easily conclude that the poor are poor because the rich are rich and have the power to enforce trade agreements, which favor their interests more than the proper nations. This is a very serious problem in our society today. Poverty is everywhere and it needs to reduced so that our economy will be more stabilized and balanced that it has been. What does it mean to be poor? What does it mean to describe a nation as “developing”? A lack of material wealth does not define one as deprived. A strong economy in a developed nation does not mean much when a significant percentage or a majority of the population is struggling to survive. Development usually implies an improvement in living standards such that a person has enough food, water, and clothing, a stable social environment, freedom, and basic rights to have a fair chance for a decent life. Is this actually progress? On the other hand, are we fooled into believing that it is? The U.S. Department of Health and Human Services placed the poverty level for a family of four at $16,450 in 1998, and the poverty rate in 1996, according to the HHS, was 13.7 percent, or 36.5 million Americans. (Egendorf: 1999, 12). Is there really a way to measure poverty, and to decide exactly what poverty is? Hunger, income level, housing and the economy’s condition of the working poor are just a few example of what needs to be considered when measuring the poverty levels in our nation. Poverty expands and contracts and its definition changes in accordance with temporary exigencies, including the interests of those who propound the definitions do the counting, which means that there is no concrete definition of poverty, except for the numbers. (Valentine: 1968, 13). Poverty is not something that has just recently become an issue; it has been around for many years. The economy has been a major influence on the levels of poverty in our nation. In 1973, poverty increased ...
As Escobar points out in The Problematization of Poverty, one of the many changes in the post-WW2 era was the "discovery" of mass poverty throughout the world. This "discovery" had massive implications for development discourse. Prior to WW2, development discourse was limited to the colonial experience. But with the end of colonial rule lurking on the horizon, western academics began to formulate theories of economic growth and "modernization." As a result, an entire genre of academic research emerged: the development discourse. The aim of development discourse was to chart out patterns of growth (which were based on the historical successes of the West) that newly independent countries could use, primarily to escape vicious cycles of poverty, famine, etc.
Lewis O., The Culture of Poverty, Scientific American, Oct. 1966, Volume 215, No. 4, pp. 19-25
The topic that I have selected for my chapter evaluation essay is that of “Economic Development”. This paragraph above is the best summary of the chapter’s contents. In this chapter the author discusses the influence of development on the three worlds of countries. These worlds are benchmarks set to assess countries economic states relative to each other.
McMichael, Philip, ed 2012. Development and Social Change: A Global Perspective, 5th ed. London: Sage Publications, Inc.
The first and arguably most common effect of poverty on society is its financial impact (Veritta, 2008). In many of the societies that experienced significantly high levels of poverty, debt was increasingly common, and especially debt accrued from moneylenders (Hatcher, 2016). For many individuals living in poverty, access to financial services such as banking is often stifled and rudimentary, making it difficult for such individuals to access self-improvement loans at standard and fair rates (Yoshikawa, Aber, & Beardslee, 2012). For these individuals, moneylenders are the best option available, which results in them paying exorbitant interest rates. The interconnection between poverty and finance, however, is cyclic in nature. The lack of finances or access to financial services causes poverty, which in turn causes an isolation of individuals from finances and financial services (Hickey & du Toit, 2013). This makes poverty a fairly complex problem to
To present his argument, Ferguson uses the first three chapters to define and analyse the concept of development. In this analysis he implicitly implies that there is a gap between what is planned and what is implemented in development schemes, that development is a gross injustice. This theme is continued throughout the book and can be seen over and again other examples that Ferguson uses. The next two chapters ...
There are many reasons why poverty is an increasing problem. The first is delayed modernization. These less-developed countries barely have enough skilled workers and managers and technology. Industrialized countries have four times as many managers and workers as the less-developed countries, also known as LDC's. It is almost impossible for the lower-developed countries to catch up or even compete with the industrialized countries....
The Globalization of Poverty: Impacts of IMF and World Bank Reforms, Michel Chossudovsky, (Penang: Third World Network, 1997)
in relation to development. Development is explained by the Oxford Dictionary as the process of developing or developed in a specified state of growth or advancement. Underdeveloped as according to the Oxford Dictionary is ‘not fully developed or not advanced economically’ which is meant for a country or a region. We can certainly see the difference between underdeveloped and developed where the changing situation emerges from the economic point of view. To be more specific, worlds within world were created i.e. the nomenclature of First World and Third World came into picture. The First World is said to be the industrialised, capitalist countries of Western Europe, North America, Japan, Australia, and New Zealand who are developed (as explained in the definition). The Third World includes the developing countries of- Asia, Africa and Latin America who are still in the mode of developing. Normally we understand the situation of underdevelopment is because the third world was under the colonies or the colonial rule for a certain period of time and lags behind the first world in every aspects like- social, economical, political, technological advancements which are yet to be seen in the third world fully like the first world. In this paper we will talk about various theorists from - Karl Marx (capitalism and class conflict), Kay and Amin (merchant capitalism, colonialism and neo-colonialism), Vladimir Lenin (imperialism), Andre Gunder Frank (third world dependency), Lipton (urban bias) and dependency theory. Here in this paper we will try to explain and understand the relevance of the various underdevelopment theories and different attributes related to it terms of the Indian Context.
In a contemporary world, poverty is inter-linked with systemic deprivation of rights and related to the notion of Human Development
Poverty is one of the most serious world problems. In my opinion, the greatest obstacle towards the develop¬ment of an economy is poverty. The primary causes of underdevelopment have a strong relationship that they together form a circle which is vicious. This is called: “Vicious circle of poverty”. There are many different opinions about the so-called “vicious circle of poverty”. Many economists have their opinions about this topic. One of them is Ranger Nurkse. In his“Problems of Capital Formation in Underdeveloped Countries”, he wrote that: “Vicious circle of poverty is the basic cause of under-development of poor countries”. It was explained briefly by: “a country is poor because it is poor” or “Because it is poor, the country does not develop; because it does not develop, it remains poor”. That means the poor countries can not escape from the “poverty trap". Is the theory of “vicious circle of poverty” applicable to the present day economic reality of any post-socialist country? In this essay, I want to discuss the validity of the widely held notion that the underdeveloped post-socialist countries are caught in a vicious circle of poverty and stagnation.
Poverty is an issue dealt with throughout the world, but we are not all aware of its conditions. Poverty is a very serious problem around the world. Poverty is defined as the equality of poorness and impoverishment -- (the state of having little or no money and few or no material possessions). A question to ask ourselves is: “Should poverty be defined strictly in terms of monetary income, as opposed to some qualitative formula which takes into consideration styles of life as well as material possessions?” (Sheppard 13) Because there are so many different ways we can express the term poverty, maybe there should be a certain way we can determine poverty worldwide?