Question

In: Economics

Related to the the discussion of poverty in Chapter 20 what do you believe are some...

Related to the the discussion of poverty in Chapter 20 what do you believe are some of the main causes of poverty? Per the reading what do you believe some of the best solutions for poverty may be?

Solutions

Expert Solution

Poverty is a state of not being able to fulfill the basic requirements of food, shelter and clothing. This is a very common phenomenon in almost all countries it may have different forms such as in poor countries it is in absolute terms( income is so low that some people are not able to fulfill their basic requirements) and in higher income countries it is found in relative terms( some peoples incomes are very less as compared to others).

There are many causes of poverty like -

  • Lack of natural resources is one of the most important causes, as regions which have comparatively less resources are poor.
  • High dependence on agriculture and backwardness of agriculture, as it is generally seen that poor economics are mostly dependent on agriculture and that too is very backward.
  • Lack if education is also one of the most important causes as it is related to productivity.
  • Backwardness of medical or healthcare sector also decreases the overall productivity of the economy.
  • Conservative approach towards traditional beliefs, some people don't want to change themselves and remain as they are thinking that this is the will of God.
  • Conflict and warfare also leads to large loss of property and hence poverty.
  • Hunger and malnutrition are both the causes and effects of poverty.
  • Change in climate which finally leads to migration also causes poverty.

It can be seen from the above causes of poverty that the main cause is the lack of money(resources) which may be due to many other causes. So if we want to remove poverty we should try to provide the poor with adequate income which may be through different policies. So the solutions for poverty may be -

  • Provide the poor people with the basic Nutritious food so they they can remain healthy and hence productive.
  • Improvement in the healthcare sector so that everyone gets healthcare services and hence are not affected with diseases. This will also increase their productivity and hence income.
  • Improvement in the education system and hence increase the literacy rate.
  • Providing the workers with the adequate training according to the present need.
  • Development of the agricultural sector like using modern techniques to increase productivity.
  • Development of industrial sector by establishing different industries and using modern methods of production.

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