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Savage Economic - Wealth, Poverty and the Temporal Walls of Capitalism - Coursework Example

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From the paper "Savage Economic - Wealth, Poverty and the Temporal Walls of Capitalism" it is clear that Blaney and Inayatullah have really brought out some strong arguments concerning savage Economic: wealth, poverty and the temporal walls of capitalism. …
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Savage Economic - Wealth, Poverty and the Temporal Walls of Capitalism
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Download file to see previous pages Today, poverty is argued to be on the increase, while discussions to put efforts to revert the situation continue to be the main agenda every other day. Before the era of economic growth, it is argued that the gap between the rich and the poor was small, but apparently, most people lived in poverty (Blaney and Inayatullah 2010). However, after the realization of economic growth, a few people prospered while too many people continue to pine on the economic ladder. With these deliberations, different scholars have had different arguments on what poverty is all about. Smith, whom much of Blaney and Inayatullah’s work focuses on, have argued that complex division of labor generates economic growth while a simple division of labor limits economic growth (Blaney and Inayatullah 2010). In this regard, many of these scholars attribute poverty to a lack of economic growth. However, some scholars argue that poverty is not just as a result of economic growth, but as a result of lack of functionings and capabilities. Functionings and capabilities can be argued to be the primary concept to think about when tackling the issue of poverty. This is arguably true because, in the process of economic development, peoples’ capabilities need to be put into function in order to effect the change desired for economic growth (Clapp and Dauvergne 2008). Blaney and Inayatullah point out that poverty should not be faced directly since it might cause antagonism that prevents the closure of the social field. However, if a clear articulation of this argument is done, there are a number of issues to be concerned about. For example, in order to be able to tackle the issue of poverty, it is apparent that the first step would be acknowledging and accepting that poverty is there and it’s real (Clapp and Dauvergne 2008). This way, mechanisms of dealing with it would be derived from this acknowledgement. As much as one would want to agree with Blaney and Inayatullah, that facing poverty directly could bring complications. This notion could as well act as a barrier to motivation and energy needed to reverse the situation. In this regard, it can be argued that facing poverty directly could initiate the courage and potentials needed to curb the menace (Davis and Feng 2009). Poverty can be viewed as a secondary result instigated by primary conditions or problems, which if not dealt with directly could worsen the situation (Henderson, 2002). On a further account, Blaney and Inayatullah argued that facing poverty directly could be a too painful and difficult experience to sustain. However, encircling is Blaney and Inayatullah tends to endorse, can be argued to have more complications than facing the problem directly. For example, in the event of avoiding facing poverty directly, the pleasure gained as a result of using circling instead of direct approach could raise some temptations of compromising the ideal goal of fighting poverty (Blaney and Inayatullah 2010). As political economy sets the stage for what wealth and poverty entail, Blaney and Inayatullah argue that putting behind the past and policing the boundaries between the past and present is essential. They further argue that putting behind the past allows us to construct what counts as the present, which is as a result of experiences of the past encounters (Taylor 2008). ...Download file to see next pagesRead More
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