Poverty and Its Impact on Development in the Caribbean

It is a commonly accepted that inequality is increasing throughout the globe, with startling statistics such as the recent Oxfam report indicating that the richest 85 people in the world own more wealth than the poorest 3.5 billion people(Oxfam Australia Media, 2014). Inequality is thought of as disparities or gaps, such as the distance between a low income and a high income household, or the ratio of their incomes (Divided We Stand, 2011). Domestic inequality refers to inequality within a country and

When the resources in a society are distributed unevenly it leads to social inequality. Often inequality is understood as being socio-economic and it is now closely associated with social inequality. “Social inequalities are differences in income, resources, power and status within and between societies. Such inequalities are maintained by those in powerful positions via institutions and social processes.” (Warwick-Booth, 2013 p.2)

society, the idea of income inequality is a frequent topic of argument. Many believe that a large income inequality distribution has a negative effect on a society, while others feel that it has very minor, nonexistent, or even positive effect. Some of the factors that affect the income inequality in the United States are low minimum wages, education, and discrimination of race and gender. The swelling income inequality gap in the United States has created numerous social, health, and human capital problems. There is a ton of information to digest regarding who the majority of money is split between and who is actually benefitting from it. There are numerous factors that affect the income inequality and the data associated with the results of it are rather

Poverty is tantamount to a labyrinth because it is extensive and never ending. However if someone were to ask a Haitian or Dominican,

The question “Why is there so much poverty in the United States?” has such a broad spectrum of issues. There is no simple cure or single cause of poverty. As of 2016, the top 20% of Americans owned 85% of the country's wealth and the bottom 80% of the population owned 15%. How is it that 400 people hold more wealth than half the population of the United States? Throughout this assignment I will be discussing the unfair distribution of wealth and through the data I collected finding the best route for equality for all.

Income inequality has been a major concern around the world, and it mainly links to how economic metrics are distributed among individuals in a country. Economists generally categorise these metrics in wealth, income and consumption. Wilkinson and Picket (2009) showed in their studies that inequality has drawbacks that lead to social problems. This is because income inequality and wealth concentration can hinder or delay long term growth. In 2011, International Monetary Fund economists showed that less income inequality increased the duration of countries’ economic growth spells more than free trade, low government corruption, foreign investment or low foreign debt (Berg and Ostry, 2011).

There is a large gap between the per capita household income of Puerto Rico and the United States. However, when the different costs of living were accounted for and the income differentials adjusted, the per capita household income of Puerto Ricans on the island was 74% of the per capita income of Puerto Ricans on the mainland (Rivera-Batiz, Santiago, 66). Despite the per capita household income increases in Puerto Rico the poverty rates remained extremely high (Rivera-Batiz, Santiago, 75). In 1970, 63% of the population on the island lived in households with income below the poverty level (Rivera-Batiz, Santiago, 75). By 1990, the percentage dropped to 57%. In 1990, the overall poverty rate in the United States was 13% and 30% of those living in poverty were Puerto Rican (Rivera-Batiz, Santiago, 75). Puerto

“Income inequality has no necessary connection with poverty, the lack of material resources for a decent life, such as adequate food, shelter, and clothing. A society with great income inequality may have no poor people, and a society with no income inequality may have nothing but poor people” - Robert Higgs. When people think of income inequality they picture poverty and people not having basic necessities. However income inequality is not just a connection to the poor. Income inequality is strongly affected by education attainment, technology, and gender.

In developed nations income inequality has also drastically increased. For instance just recently in the United States, the richest americans (the top 1%) made 19.3% of all the United States income, which is the most drastic income gap since the twenties. “The top 1 percent of U.S. earners collected 19.3 percent of household income in 2012, their largest share in Internal Revenue Service figures going back a century” (Paul Wiseman). Both developed and developing nations are having major issues dealing with income

There has been a debate about the income inequality. Some people stand by that the rich are richer and the poor are poorer. As the evidence of it, the rich have large part of the social resource than before, so that the poor have less and less part of community resources. On the other hand, the opponents people argue that the poor are richer. Compared to previous, the society has much more resources. Even the poor people have less part of resources then before, they actually have more. The debate has been going on for years, and both side of the argument are justified. The fight will continue, but both side of the debate believe that income inequality is exist. Most people don’t like the income inequality, and thinks it will hurts economic

Society must have wonder how could the first powerful black nation become the poorest country in the western hemisphere in just two centuries. Though many things could have contributed to the fall of Haiti, however the shot that delivered the biggest blow to the country’s economy was the accepted 150 million franc loan from France in 1838. This set-up loan gathered up such a ridiculously amount of debt over the course of 80 years that kept Haiti’s economy in a downwards path to destruction and poverty. People could even say that this loan was France’s ploy to punish island for its past rebellion that gained them their independence. With that being said my proposed topic is the investigation of economic development and growth through governmental decisions and how these decisions is affecting Haiti present-day economy.

Poverty is when a person or community lacks finances to enjoy a minimum standard of life and meet their primary needs. Poverty in Cuba was caused by many conditions. Cuba had problems making strong profits in international trade, it struggled with shortages in healthcare, and it had to deal with a major banking crisis. It is tough for a small country to thrive and build itself up, while bigger countries are competing to remain a superpower in the world. When a country’s economy is struggling like it has in Cuba, then the people are also going to struggle financially.

Poverty, or the inability to afford basic human needs, is an issue that is spread worldwide. There are people everywhere who cannot afford shelter, food, healthcare, or education. It seems easy enough to ignore the bum asking for change on the street, but it becomes near impossible in regions where whole families are begging on the street. This rings true in Latin America and it is extremely frustrating to see social inequality this extreme. This essay will examine how much poverty exists in Latin America, why the amount of poverty is so disproportionate and what can possibly be done to alleviate the amount of poverty in these countries.

Harris, Richard L., and Jorge Nef. Capital, Power, and Inequality in Latin America and the Caribbean. Lanham: Rowman & Littlefield, 2008. Print.

This paper will discuss poverty, the different types of poverty and their definitions and who is affected by each type of poverty. It will look at the some of the major reasons why poverty exists and what causes poverty, like such things as inequality, stratification and international debt. Some of the impacts of poverty will also be analyzed from a national and global perspective; things like education, literacy rate, and crime. This paper will demonstrate that poverty affects almost everyone in some form or another and exists because those with power and wealth want and need poverty to exist to force a dependence on the wealthy. A few of the main