Market Based Solutions For Global Poverty Essays

Market Based Solutions For Global Poverty Essays

Length: 1923 words (5.5 double-spaced pages)

Rating: Better Essays

Open Document

Essay Preview

Market-based solutions to solving global poverty are inspired by the interrelated concepts of capitalism and neoliberalism. Such solutions are the dominant discourse in approaching global poverty, being endorsed by significant international actors including the World Bank and the International Monetary Fund. Theoretically, market-based solutions could potentially solve global poverty through their core aim of boosting a State’s productivity and overall wealth. However in practice, market-based solutions are not plausible solutions to global poverty because such solutions are inherently flawed for three reasons. Firstly, neoliberalism in particular is more of a political ploy aimed to assert the dominance of the West and the wealthy, rather than a policy designed around the poor. Secondly, market-based solutions make assumptions about the poor as rational actors without considering the circumstances and pressures that the poor face which the wealthy do not. Thirdly, market-based solutions are hegemonic in that they do not consider the causes of poverty and the contexts in which such solutions are implemented. The inherent problems with market-based solutions can be specifically illustrated in Sub-Saharan Africa.

Initially, theoretically, market-based solutions do appear to present a plausible solution to global poverty. As mentioned, market-based solutions include capitalism and neoliberalism which are concepts that are interrelated. Capitalism is an economic system which aims to accumulate surplus through increased productivity (Scholte 2000, p. 137; Bernstein 1990, p. 6). Under a capitalist system, there are two classes of people being the bourgeoisie who own the means of production and employ labour, and the proletariat who ha...

... middle of paper ...

...l to consider the impact of family and kinship networks on entrepreneurship in that a person may feel obliged to employ their kin who may not have experience in the field that the person is engaging in and this can be a drain on the entrepreneur’s resources (Buckley 1997, p. 1089). Also, women may not be expected to engage in certain enterprises and the manner in which wealth is managed may depend on social appearances and supernatural superstition (Buckley 1997, p. 1090). There are also environmental conditions to consider such as the uncertainty of rainfall for agricultural projects (Bernstein 1990, p. 14). Therefore, non-financial considerations including culture and the structural causes of poverty play a significant role in affecting the success of microcredit programs to alleviate poverty and need to be considered if market-based solutions are to be effective.

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

Outsourcing: Staying Competitive In The Global Market Essay

- Abstract As more companies expand their business globally, they are seeing more opportunities and an increased set of threats to the market. Threats like war, political revolutions, new currencies, and natural disasters can affect growth and political stability throughout the world, so in order to successfully compete in the international market more companies are faced with the decision of relocating part of their operation offshore. This paper will address what key elements companies in this situation need to address, such as, quality of customer service provided, security of confidential information, and the possibilities of cost savings, in order to be sure that outsourcing is the best s...   [tags: Business Market Economy, Globalization]

Better Essays
1723 words (4.9 pages)

The Mobile Broadband Market Essay

- To meet these needs, operators require extreme flexibility in their network and operations to satisfy their customers by responding with rapid time-to-market performance. In parallel, they need to see a drastic reduction in their total ‘production’ cost per bit. This has lead to the teams’ innovative development of the telco cloud. This has the potential to help operators meet all these needs. (; 2014) By improving internal processes to gain competitive advantage, management rolled out ‘’I Own Quality’’ concept....   [tags: nokia solutions, network]

Better Essays
2654 words (7.6 pages)

Ethical Considerations in Global Expansion Essay examples

- Introduction The aim of this paper is to discuss the challenges of values-based decision-making ethics in the current marketplace. This discussion will include the research findings on the four markets for potential expansion and an assessment of the current social and political climate of each. A recommendation will offer three best fits based on a comparison of company values, and will include detailed rational for these choices. Content and Analysis Background According to Ferrell (2004), “Organizations create ethical or unethical corporate cultures based on leadership and the commitment to values that stress the importance of stakeholder relationships....   [tags: Global Commerce]

Better Essays
1863 words (5.3 pages)

Hong Kong: Bond Market Development Essay

- 1. Evaluate the latest development of bond market in Hong Kong The Hong Kong dollar debt market grew steadily despite the volatility in global bond markets. Firstly, Hong Kong is quite a liberal debt market. According to CbondS, International investors are free to invest in debt instruments issued in Hong Kong. There are no restrictions on foreign borrowers tapping the domestic debt market to finance their business. The bond market in Hong Kong has for some time been a significant market place for issuers and investors, in both domestic and foreign currencies....   [tags: liberal debt market, investments]

Better Essays
1551 words (4.4 pages)

Global Competition Of Automobile Market Essay

- Global Competition in Automobile Market The automotive industry is dominated by a few key players. Kallstrom explains, “The top five players have a significant 49% share of the global automobile market. This share decreased by 5.1% in the 15-year period from 1998 to 2013. Smaller companies slowly took the major automotive companies’ share away. In terms of vehicles produced, General Motors (GM), Ford (F), Volkswagen, and Toyota (TM) are still featured on the top five list.” It is important to note that Hyundai comes in at number five....   [tags: Automobile, Automotive industry, General Motors]

Better Essays
984 words (2.8 pages)

Global Communication's Problems And Solutions Essay

- Abstract Global Communications (GC) organization has recently been through numerous troubles detrimental to its primary functions. Global Communication is a telecommunication company. Due to current economic conditions, telecommunications organizations are struggling to keep up with other industries. Their stock prices have fallen 50 % over a three-year period. The company has fixed costs that cannot be met, due to its lack of operating capital. Cost cuts made by the company include cutting healthcare and education benefits....   [tags: Business Analysis Management Strategy]

Free Essays
1131 words (3.2 pages)

Essay on Impact Of Globalization On Global Market And Trade

- “From your point of view, has globalization changed global politics or in a negative way?” Globalization can be defined in different ways as follows; • “The acceptance of a set of economic rules for the entire world designed to maximise profits and productivity by universalising markets and production, and to obtain the support of the state with a view to making the national economy more productive and competitive; • Technological innovation and organisational change centred on flexibility and adaptability; the expansion of a specific form of social organisation based on information as the main source of productivity and power; • The dissemination of common cultural values, but als...   [tags: Globalization, Culture, Economics, World Bank]

Better Essays
1123 words (3.2 pages)

Essay about Global Furniture Market And Key Industry

- Situational Analysis The rivalry between existing companies is intense in the global furniture market and key industry players in Europe include Designs Inc, Galiform plc, Wal-Mart Stores Inc., Argos and others. However, Ikea today is the undisputed market leader in the furniture industry discount on the global scale. The threat of new entrants in the industry is low, and the chances of entrance of new competition Ikea is scarce because the current market is saturated and the significant amount of financial investments and experience are necessary to become a shop furniture discount on a global scale....   [tags: Marketing, Strategic management, SWOT analysis]

Better Essays
1015 words (2.9 pages)

Investment Risk In Stock Market Securities Essay

- Investment Risk in Stock Market Securities Introduction: Stories of people making fortunes from the securities market have enticed many others into risky investments. Congress created the Securities & Exchange Commission (SEC) to protect investors. Many corporation managers became greedy and made self-serving decisions that created the principle-agent problems. The solutions for these problems lead to more unethical behavior from management. The creative use of financial statements even tricked analysts and brokers....   [tags: Investment Stock Market Accounting]

Free Essays
1259 words (3.6 pages)

Dhl: Global Market Leaders Essay

- DHL: Global Market Leaders Abstract This paper is about customer relationship polices and how they are key to the success of a business. It talks about businesses taking care of their internal/external customers’ needs, receiving and handling customer feedback, and meeting customer’s demanding expectations. DHL: Global Market Leaders Introduction Marketing is the competitive/creative business strategy designed to captivate/hold the attention of individuals or companies towards an exchange of goods or services, retain old customers, and attract potential customers, to beat-out the competition, all for a pr...   [tags: Business Strategy Analysis Management]

Free Essays
1128 words (3.2 pages)