Private Suffering, Private Gaining And Private Investments

Many individuals all over the world are affected by poverty. In order to completely understand the cause, the effect, and the solution to ending poverty, we must first understand the meaning of poverty. Poverty is the condition where an individual’s basic needs for food, clothing, and shelter are not being met (business dictionary). According to the World Bank Organization, poverty is also the lack of healthcare, education, information, and jobs. There are two general types of poverty: Absolute and Relative. Absolute poverty occurs when individuals cannot obtain adequate resources to support a minimum level of physical health. Relative poverty occurs when individuals do not

3. Part of the reason the World Bank’s standard Structural Adjustment Policies has been counterproductive partially because of unfortunate timing. Reduce government spending caused a recessionary effect, decreasing demand and increasing unemployment hurt nations. Strict monetary policy raised interest rates and helped to further suffocate investment demand and access to capital for poor farmers and low-income entrepreneurs. Currency devaluation did make exports cheaper but at a time when export markets for primary goods were oversupplied and prices were falling. Import cost also rose making it more expensive for domestic producers to obtain new technology and replacement parts. In addition, privatization of government enterprises also increased efficiency, which was accompanied by downsizing, which resulted in unemployment for thousands of the middle class. At this time the reductions in

The only solutions to improve conditions for the poor are increasing productivity and increasing allocation efficiency: either to make the pie larger or to divide the pie more

Thee middle class is constantly referred to as the “working class”. Former President Richard Nixon explains this in his speech address to the nation on labor day September 6, 1971. This speech was given to talk about something Nixon felt America has failed to achieve: a home without war or inflation. In his speech, he describes that this nation is under the impression that “it is immoral… to strive for a higher standard of living” (Nixon). He was explaining that this nation has come to know that where you are is where you stand you do not shift from that position. If you are making a life for yourself, you should be happy. Middle income Americans, however, cannot be held at a stand still. Because so many people make up the middle class, it is always a question to many Americans if they qualify as “middle class”. Richard Fry and Rakesh Kochhar are two of the many minds behind Pew Research Center. PRC is specific on being unbiased and developing har facts from both sides of a situation. In 2016, they made a study that provides a solution of who is considered middle class. It has been proved that over 51% of all workers are a part of the middle class (Fry and Kochhar). Thus, making up a little more than half of what our economy runs on. These middle class people are people with jobs like a secretary, a truck driver, even a high school teacher. These people contribute in everyday life throughout our society. Because the middle class makes up most of what is the working class, they definitely economically benefit the

Whether or not one agrees with the economist’s observation on measuring poverty through the income, the analytical problem that is demonstrated is the lack of income can prevent individual from accessing fundamental needs for minimum standard of well being. In areas where individuals have very low wages, inflation causes the area to fall deeper into poverty. Inflation is defined as a general increase in prices, not minimum wages. Therefore, understanding the measurements of poverty can led to exploring sufficient solution to help decline the poverty level in rural areas.

As the middle class in American is shrunken yet United States is giving up a new range number 1 to China which once again put the focus on economy. I am a firm believer that economy is vague and convoluted subject but nonetheless middle class has proven to be the binding force for an emerging economy for two reasons, one is their ambitious goal to get reacher and two is their concerned of being poorer. If you look at the numbers of the components (rich, poor, and middle class) you find a preponderance numbers that indicate middle class is more educated than the other components for the reasons discuss above!!. China, Japan, and India have established a great program to shrunken the gap between the richest people and poor while subsidizing the

250). Additionally, the poverty rate calculated in 2014 stands as 14.8 percent of the population, and have fluctuated only modestly over the years (De-Navas-Walt & Proctor, 2015, p. 12). What is even more staggering is that from 2000 to 2012, 34.5 percent of the population has suffered at least one spell of poverty lasting at least two months (p. 14). What these statistics appear to suggest is that despite the noble aims of such reform, they seem to appear to be insufficient in rewarding work to ultimately ameliorate poverty. This leads some to argue that the root problems can be attributed to how wages in the low-skilled labor sector are depressed and therefore too low for poor workers to take advantage of the EITC, suggesting that increases in the minimum wage would help compound the anti-poverty effects of the EITC (Neumark & Wascher, 2011, p. 713).

Furthermore, the text is clear and well-organized. However, the number of tables, and figures can cause distraction. Moreover, the authors facts are accurate to an extend since they are collected through surveys we can not say it is accurate for sure. Nonetheless, the usage of important and complex words has been explained through the essay. Such as “Precariat” which is used to reflect on the existence of a group which is characterized by enormous amount of insecurities on the combined measure of the capital (1). The evidences provided by the writers are sufficient and are directly related to the argument of the essay. Nonetheless, the text is appropriate for it’s intendent audience which are academic scholar writers, economists, and researchers. On the other hand, the text does not refute any opposing point of views, which in return weakens the argument since the writer did not cover all aspects of the argument. Moreover, the text is able to develop a clear understanding of the subject, by explaining each idea with evidence, and explaining the significance of complex words. Nonetheless, many details could have been summarized which can make it easier and faster for audience to read it and understand

Authors have presented different ways of characterizing poverty and the poor. Some are the major efforts to provide the opportunity for the poor to escape poverty which resonates the principle that the problem of poverty is in a large extent caused by the unequal distribution of the available resources (World Bank Staff, paragraph 4). It was realized that there was a need to come up with a standard figure to stand for the minimum wage which could be applied throughout the nation. The people who lacked minimum income which was defined as the income that satisfactorily met their basic needs were seen as poor. There exists a disparity in the

Ideally people will provide the aid presented in this paper to those who are struggling and the needy will use the resources provided to them in order to benefit themselves and prosper into a better economic position. There are always factors where there is no contributed effort from either side. Lack of funding and government money is a huge issue in the role of poverty and things such as family services and the ability to create jobs is limited. Subsequently, the state, the community and the citizens are left to support the problems in their living area. When it comes to employment, it is hard to pick it up without the help of the government. Many are left hopeless until someone recognizes the scarcity of support and options in the community.

While it is true that the use of macroeconomic have declined in the twenty-first century, nevertheless, the governments’ policies are still effectives and have assisted in promoting economic growth. Fiscal policies and monetary policies are two of the ways the states manage the national economy (Barma and Vogel, p. 540). Through the fiscal policies, which consists of the taxation and government expenditure, the federal government is able to positively or negatively affect economic activities, and also be able to stimulate certain sectors of the market (Barma and Vogel, p. 540). While strict restriction on monetary policies, particularly the flow of capitals can affect the level of trade and foreign investments in a nation, states are still capable of controlling such economic activities through their

Poverty traps are economic anomalies that continually reinforce poverty within a country’s, or multiple countries’, economies. There are many different types of poverty traps such as savings traps, “big push” models, nutritional traps, behavioral traps, geographic traps, etc. that all affect an economy in different ways. Not only can poverty be enforced through these traps, but also through the way an economy is run or the moralities of the government. According to Mark Koyama (2015), poverty traps are important due to more than 3 billion people, nearly half the world’s population, living on less than $2.50 per day, and about 1.3 billion people living in extreme poverty on just $1.25 per day. Among these 3 billion some people living in poverty, one billion of them are children of which thousands are dying daily. It is necessary to study these different poverty traps in order to begin to decrease the distressingly high percentages of people living in poverty.

Low income countries have a GNP per capita of $995 or less, this translates into stark poverty on a massive scale.(de Haan, 1996) With populations experiencing income at this level most of their potential productivity is not

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

Poverty is a social problem that affects everyone on an economic, political and social level. The problem of human suffering is one that we must combat strategically on many levels. According to the United Nations, “in 2015 more than one billion people around the world live in a state of poverty, lacking the basic goods food, clothing, and shelter that humans need to survive” (“Poverty”). There are a great number of areas that keep individuals poor, such as lack of resources, inadequate income, lack of education, language barriers and the high cost of child care. Being able to work and provide basic necessities is our basic human right and we should not be deprived of these basic human rights that individuals need in order to live satisfying lives. The government has the responsibility of helping individuals in need with the economic assistance to feed, clothe, house, educate, provide health care and decent wages for every individual. They should ensure that individuals have access to resources that will help them build a better future. There are several ways that we can work together to strategically find solutions to end inequality among the poor individuals in our society.