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Poverty - Research Paper Example

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Poverty Name Date Introduction Poverty is the shortage of the basic things a person needs, such as food, clothing, and shelter. Nowadays, majority of individuals are haunted by poverty across the globe and not much has been done to eradicate it…
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Poverty

Download file to see previous pages... The global poverty empirical analysis is far from reaching a consensus on remedies and causes of poverty. Nevertheless, as a consequence, philosophers are extremely divided with regard to who might be held responsible for poverty (individuals or groups). Humanity has been privileged to solve various problems such as finding cure for the insidious illnesses and extracting energy from diverse sources. However, they are unable or unwilling to find solutions to the greatest problem (poverty). The termination of the 20th century was characterized by a commitment by several countries to eradicate poverty. The same period was marked by success in the achievement of price stability. Credit was given to the Central Bank as a result of its adoption of new technologies in the conduction of monetary policies. Currently, some central banks have adopted inflation targeting. With this strategy at hand, the rate of interest is the principal tool used by the central banks in their endeavor to implement monetary policy (Helder & Jose, 2007). Impact of Poverty on the Society The impacts of poverty are closely related, so that a single problem seldom occurs on its own. For example, poor sanitation triggers new and old diseases, whilst lack of adequate water and hunger make people continue living in poverty. Communities and societies that are impoverished mostly suffer from discrimination. As a result, they are prawn to poverty cycles. It results in lifelong troubles and handicaps that are transferred from generation to generation – for instance, lack of school education, lack of basic hygiene, and disease transmission (Jones, 2003). Poverty results in extremely low incomes and unemployment – for example, creates the environment where children cannot simply attend school. For those individuals who have the privilege of attending school, they don’t perceive how their hard work can improve their lives. This is because their parents do not improve on their everyday tasks despite their efforts. Sociological readings have also proved that the impacts of poverty are always transferred from generation to generation. Routine, family values, and living standards leave a minute room for an individual to develop. The enduring need to provide for shelter and food has made individuals to forget other duties such as providing their children with satisfactory life through education. The impacts of poverty are similar, as they do not satisfy an individual need satisfactorily. People living in poverty are often unwell and emaciated, and due to this their lives become shorter. The normal impacts of poverty are lack of opportunities, physical and mental aliments, addiction and drug abuse, increased rates of crime, woman and child abuse, homelessness, education deprivation, and debt pressures. Economic Policy Solution to the Problem To find solutions to poverty, individuals should come up with a strategy that aids those people who are poor for purposes of getting them out of poverty and eliminating conditions that enable them to remain in poverty. The policy and strategies should take into consideration the holistic assessment of issues that contribute to an individual wellbeing, such as health care and financial services. Global poverty is the most challenging problem that can be addressed by organizational scholarships. A variety of issues related to poverty have been discussed at the World Economic ...Download file to see next pagesRead More
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