Developing World 's Issue Of Poverty

In both developing and emerging economies, microfinance has vastly and increasingly been seen as one of the most important means for enhancing the lives of the poor and therefore a major tool for economic and social development mostly in rural areas. Lately, contrary to this widespread belief, critics have raised eyebrows against this growing popularity of microfinance as a major tool for enhancing economic development. Contrary to belief, they are of the opinion that microfinance is a ‘make-belief’ that is hindering economic and social development rather than enhancing it.

What is a Social Problem? A social problem is a general factor that affects society. It is a problem affecting a certain group or area of people. I chose poverty as my social problem for this paper. What is poverty? Poverty is the state of being poor. It has many forms, from living in a house with just enough money to get by, to living on the street. Poverty can affect you in many ways. It can affect your health and your education. Many people that live in poverty currently probably didn’t get a proper education. Which means they probably grew up in poverty or got affected by poverty in some way.

Microfinancing produces many benefits for poverty stricken, or low- income households. One of the benefits is that it is very accessible. Banks today simply won’t extend loans to those with little to no assets, and generally don’t engage in small size loans typically associated with microfinancing. Through microfinancing small loans are produced and accessible. Microfinancing is based on the philosophy that even small amounts of credit can help end the cycle of poverty. Another benefit produced from the microfinancing initiative is that it presents opportunities, such as extending education and jobs. Families receiving microfinancing are less likely to pull their children out of school for economic reasons. As well, in relation to employment,

In our world, poverty is one of the main and well known social justice issue. Poverty is the state of one who lacks shelter, education, money, food, clothing, health or other materials. I think there are 4 very important effects of poverty that affects a country, which are malnourishment, education, society and economy. Firstly, malnourishment is the most common effect of poverty. Malnourishment is a condition that results from consuming too much or not enough nutrients, which creates major health problems. Poor families rarely have access to foods with many nutrients. Healthy foods are expensive; therefore, families with a small budget buy less food and consume less nutrients because they’re cheaper. Nations with too many malnourished people

Today approximately fourteen percent of the population would be able to give you an accurate definition of Poverty, because they are currently experiencing it first-hand in the United States (Maiese, 2003). Absolute Poverty, which academically can be defined as the lack of the minimum food and shelter necessary for maintaining life. This definition comes with much controversy because most Americans who have the bare basics to maintain life are still living in what is known as Relative Poverty. This would be a more appropriate definition as many of the poor lack the ability to live decently because they earn a considerably less amount than the nation’s median income. The social issue of Poverty is a phenomenon that is complicated to discover why it is perpetuated in our society. Americans as a whole have created a stereotypic explanation that cycle of poverty occurs because the poor choose to continue it. The idea that the people in poverty resign themselves to a culture of poverty passed down from generation to generation where previous generations cannot transmit the intellectual, social, and cultural capital necessary to change their situation. This leaves them feeling negative, hopeless, powerless, and inferior to those of the middle class.

Poverty has always been the major problem of every country. There are people who have to think more than twice before buying anything. Poverty can cause various effects on an individual such as health problem, education problem and involvement in crime.

All of us complain about what we don’t have and what we can’t afford. We forget that there are billions of people that have less than we do. Poverty is one of the biggest world problems there are today. More than 80% of people in the world live on less than 10 dollars a day. There are a growing number of people in need of resources, and no money to provide it. For example, no access to clean water and in some cases any water at all. Some people do not have shelter, or health services. There are many children growing up with no education. This is all because of no having enough money to gain access to these necessities. There are people working on ways to end this problem for good. And many have found technological ways to reach that goal.

In todays “developing” world it is sad to research poverty and see the eye-opening facts and statistics showing how impoverished many individuals and families are. Poverty is a serious matter; today more than 80 percent of the world’s population lives in countries where income differentials are widening. Child poverty is a big issue and needs even more focus than the poverty issue itself. Children are our future, and in the richest nation in the world, one in three kids lives in poverty. Let that sink in. If children are our future, that statistic contradicts any future improvements that could be made. My personal opinion is that any child who is raised in a financially challenged or impoverished home has less of a chance to make it out. Therefore, if one in three children are living in poverty the majority of those children will also grow to create a family at risk of poverty. Again like I stated, this is only my personal opinion before I’ve gone into research.

Poverty evokes various definitions depending on the audience and perhaps the purpose or context that it is used. Limiting the definition of poverty to a ‘value judgment’ is of little use in terms of agreeing on a definition for the purpose of comparison and measurement between groups (Sen 1979, p.285). A clear definition of poverty supports and indicates the process for measurement, and as such would also assist in determining the focus and approach for development (Clark 2012; Ruggeri, Saith & Stewart 2006, p.19). In reviewing Oxfam Australia’s (Oxfam) Close the Gap campaign, it is necessary to identify the approach that is taken in defining poverty in order to gauge the scope of the project, the development of the approach used, and to quantify the change that occurs.

Everyone who had all their money in banks lost every single penny; and they were never to get it all back. The reason the Great Depression played a big role in poverty is because after everyone lost their money, they were not able to pay for their food, rent or anything else so tons of people were kicked out of their houses and left on the streets.

Every city has poverty. Travel around the world, I bet it wouldn’t be difficult to find a city that doesn 't have an impoverished community. Poverty is a global issue, but most importantly it’s a local issue to me in the city that I live in. Among the 10 largest cities in America, Chicago has the third highest poverty rate with 40-60% of our residents living under the poverty level. People who live in poverty are given less opportunities, resources and tools than people who live in the middle or upper class. Poverty is not a pleasant subject, however, poverty is real. In the daily lives of the poor, poverty becomes a network of disadvantages. The end result is that there is a lack of access to education, employment, health care, affordable housing, proper sanitation and good nutrition among many generations of the poor (End Poverty). Of the issues associated with poverty, the lack of access to an education stands out to me the most. In Chicago, education is greatly valued and is vital for all development and growth achievements in people. Education is the process in which people gain knowledge, help form and shape attitudes and opinions, and allow people to gain a set of skills that they can further use in areas outside of a school environment. However, education systems in Chicago are taking a huge deficit due to the effects of poverty. The effects of poverty are already big factors toward the concern about Chicago, and why it is portrayed as negatively as it is, but those

Poverty is defined as not having sufficient money or resources to meet basic needs, such as food, clothing, and shelter. Many people experiencing poverty may not be able to access healthcare, receive an education, or participate in recreational activities. They are often marginalised because their level of income does not allow them to meet the standard of living deemed acceptable by society. People vulnerable to poverty include those living with disabilities (mental and physical), single parents, the elderly, youth, and racialized communities. Worldwide, 1.4 billion people (as of 2005) live below the poverty line of $1.25 per day, with over 3 billion people living on less than $2.50 a day. 1 billion children live in poverty, the equivalent of half the children in the world with approximately 21,000 children dying of easily preventable diseases. In Canada alone, 4.9 million people live in poverty, the equivalent of 1 in 7 people, with Indigenous children being more than twice as likely to live in poverty than non-Indigenous kids. As of 2010, around 100,000 people in Ottawa, or approximately 10% of Ottawa’s population, are considered to be poor.

The effects of poverty have been around for hundreds of years; as it is apparent within third world countries like North Korea, Sudan, and Somalia. Third world countries are not the only ones that are affected due to poverty first world countries like Australia, The United States of America, and Canada also face poverty. The definition of poverty is very controversial as every country has a different poverty line, due to the finical status of the country. The most commonly used definition for poverty is someone that is lacking a significant amount of money from which they cannot pay for necessities, such as food and shelter. Which could lead to those in poverty becoming obese through having a heaving sugar based diet, buying packaged food, and having fast-food frequently due to how cheap it is. It could eventually lead to many gaining life threatening diseases, such as diabetes at different severities. Due to being in poverty many are unable to gain health insurance, and the proper care to reduce the impact that diabetes has on their day to day lives.

Poverty is a common issue that has troubled nations for thousands of years. Poverty is the state or condition of having little or no money, goods or means of support. This social problem has various impacts on different institutions and people. Today a large amount of individuals are struggling to find food, shelter, clothing, and many more essential needs for a better, and healthier lifestyle. Many individuals know that as much as countries try to eliminate poverty, the problem is so exponential that it has a very miniscule chance of absolutely disappearing. Moreover, society knows that poverty can be a controversial topic because poverty can be resulted from poor life decisions made by humans. Therefore, there will always be those who are categorized as poor individuals. Poverty to this day remains a global issue, and must be addressed. However, feasible solutions that may be the solution to exterminating this dilemma. How can we reduce or diminish poverty? Poverty is a worldwide social issue because of lack of government funds. Most individuals in poverty have limited opportunities, get stuck with low paying jobs, and struggle on a daily basis. Essentially these individuals were setup for failure leading to a never ending loop of poverty.

Despite the growing body of literatures about the microfinance and its impact on poverty, there are counter growing criticisms against microfinance in issues such as reaching the poor, unchanged poverty level, high interest rate, brutality in repayment processes, financial sustainability, and women empowerment. (Hossain, 2010).