Why do most modern societies try to reduce poverty? Why don't they simply get rid of...

Why do most modern societies try to reduce poverty? Why don't they simply get rid of poverty by passing laws that require everyone to have the same income? What is the most effective way to reduce poverty long-term?

Expert Solution

Why do most modern societies try to reduce poverty?

Modern societies have been established based on the tenets and ideals of justice and equality. Further, poverty leads to the varities of social problems such as crime and social tensions. Hence, modern society try to reduce poverty.

Why don't they simply get rid of poverty by passing laws that require everyone to have the same income?

Such law can not be passed. If such law is passed, it will cause fall in GDP of country in long run. There would not be any incentive to work. People will stop working expecting that they would be getting income from government. Further, even if such bill is signed into law, it can not be implemented effectively.

What is the most effective way to reduce poverty long-term?

Investment in enhancing capabilities would help to reduce poverty in long run. Investment must be made in education and skill developments to increase capabilities of people.

Rahul Sunny answered 2 years ago

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