Question

In: Economics

"Poor countries are poor because they are poor." Do you agree with this statement? Give at...

"Poor countries are poor because they are poor." Do you agree with this statement? Give at least ten reasons to support your answer.

Solutions

Expert Solution

Answer - Here are the following reasons:-
In our modern world, wealth depends on trade, in goods or services. Trade depends on infrastructure, and infrastructure in turn depends on investment. This is the essence of development. The more ‘developed’ a country is, the more money it is capable of making. So in talking about poor countries, we are talking about Less Economically Developed Countries (LEDCs – This is a better term than ‘the developing world’, as some poor countries may not actually be developing, but standing still or even shrinking.) In asking ourselves why some countries are poor, what we need to work out is why they are not developing. And there are several reasons, with geographical, political, and cultural factors all coming in to play.
For Examples :-

Land Grabbing
Foreign Corruption
Foreign Meddling
Trade Regulations
Donor Dependencies
Dictatorship
War and Civil War
Corrupt Elite
Corruption
Poverty and Values
Responsibility
High Fertility Rate
Sense of Maintenance
Too Much Garbage
Unwelcoming Attitude
Thank You



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