Running Head: BUSINESS Name: Tutor: Course: Date: University: 1. Briefly describe the economic problem you have selected (Worldwide Poverty). Poverty has been a big economic problem in the world that has for many years affected the living standards of a majority…
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Taking for instance, lack of income is brought out as poverty, but it is unreliable to measure. It may also be related to consumption. Poverty is mostly what is seen to be and what has been measured. The comparisons of these provide a scope that has an endless debate. Another angle can be taken as material lack or want. In this, it tries to refer to little wealth or lack of some of assets like shelter, clothing, TV’s and radios. The other definition refers to the deprivation in capability, so much focusing in what one can and what one cannot do or cannot be. This goes beyond the lack of want to further include the physical capabilities or even the self respect from the society. [Squire, L, 1993] In this era, where there is a global meltdown, the evil, which is breeding in most of nations, has increased poverty levels among people. The world is now faced with a condition where the rich are getting richer while the poor are continuously getting poorer. The global cause of poverty is less talked about and, therefore, very little has been done as a direct strategy in alleviating this poverty directly. There are interconnections, which are assured by the globalizations as well as the rules. Also, practices and the judgments that apply internationally count in these interconnections. These are mostly from the leaders of the affluent countries or the major global actors like the international organizations, corporations and the powerful people. With such manipulation from the global leaders, the governments of those who are underprivileged and the people who are in them are so much helpless in alleviating the poverty that affects them. It is in this that one sees many of the people struggling for survival while the few continue enjoying the riches at the expense of many. The statistics on poverty show that even in nations like the US, which are developed, 15 to 25 percent constitutes of poor people. They are not able to provide for basic needs like food, shelter and these have high populations. Where there are many adults and children as well. Most of the population lives below a dollar a day. 2. Discuss the major impact to society of the problem The society has been affected by poverty in a very great way. Poverty as seen has deeper roots that if not uprooted properly, will lead to a cycle of poverty better known as the vicious poverty cycle. It is a process of activities that are in a cause and effect state. The sociological readings have revealed that poverty is transferred from one generation to another, from family values, from these routines and standards of living, which leave little room for development and which are beyond anyone’s day to day operations. The situation of a family inclined towards a moment to moment viewpoint. The main concern, which is to provide for food and shelter, has been the major concern. Being able to provide a better habitat for the children to live in, being self sufficient and having futuristic plans are very vital. The effect as of poverty has been seen to have the same effects as the consequences of not gratifying the needs of the individuals. It has been noted that the poor are mostly emaciated and unwell. They mostly live in under standard conditions. Poverty leads to drug abuse and addictions that affect the health of the people involved. The poor are not able to afford the drugs that are needed to cure the diseases that are affecting them. [IMF, 2001] They end up using those that have been left out.
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