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In: Economics

In this discussion we want to think about the explanations of Poverty. Please detail one of...

In this discussion we want to think about the explanations of Poverty. Please detail one of Schiller's approaches to poverty. Do you think this approach is accurate? Why or why not?

Solutions

Expert Solution

In this question, there is a discussion related to the explanations of poverty.
Poverty is a very big Global problem. It will raise many other issues related to poverty, life scarcity of food resources, lack of education, lack of social life, etc.
Poverty is not a problem of a year for a decade but it is the problem of hundreds of years and to eliminate poverty from the Global platform it is a very difficult and challenging task for every country
In this issue, one of the Schiller's approaches to poverty is explained here. i.e. "the economics of poverty and discrimination".
In this approach, there is a focus on discrimination approach in society and poverty.
Social discrimination is a big factor which will increase the gap of poverty because social discrimination includes various things which make poor poorer in society.
Social Discrimination includes various factors like the factor of discrimination in education, the factor of discrimination in social life, the factor of discrimination in the various necessary services like Health Services.
Poverty is one of the major affecting factors of social discrimination.
Yes, I am in support of this approach but this approach is not 100% correct because there are other alternatives and there are other factors which can raise the situation of poverty in the economy.


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