Severe poverty has led to lack of basic necessities and even deaths in many families from poor countries. Households that are mostly affected by low income and poverty are those led by unemployed, retired, home workers or…
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"To combat poverty and increase growth in the worlds poorest countries policy makers need to focus on decreasing world income inequality"
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In the second section I will be dealing with the effectiveness of the policies in reduction of poverty and growth of economy in poor countries.
I agree with the statement because, income inequality affects a country’s economy; which comes as a result of poverty in the society. Research done shows that income inequality is reflected in high relation to income poverty rates. Income inequality has also been linked with health problems. This is because income inequality is associated with many issues that affect the health of children adversely (Wilkinson 1996). Many health problems are also associated with the amount of income people earn. In a psychological interpretation, the health status of person affects their income and thus if one is unhealthy, there is a possibility of low income. Income inequality is also associated with mental illness. People with poor living standards are at higher risks of physical and mental illnesses as a result of stress and lack of balanced diet. According to Wainwright (72-69) to help in fighting poverty, equal distribution of income, developments in social and economic environments must be looked into. Income inequality affects the economy in ways and it leads to inflation too. It is therefore necessary for the government and the citizen to come up with policies to help curb income inequality which has lead to poverty in the society mostly affecting the poor countries.
To combat poverty and economic discrimination, there has to be application of polices that are made and implemented by the society with total assistance by all sectors of the government. The implemented policies should enhance and promote equal opportunities and offer access to basic social services, strengthen collective and individual participation and responsibility in the fight against poverty, establish specific
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It has not just economic, but political and social dimensions to it as well. The term poverty is used in relative sense rather absolute. Attacking poverty requires a practical definition and a benchmark for measuring poverty. International organizations like United Nations (UN) have always been a key player in policy formation of poverty eradication.
In the main, Paul Krugman thinks that income inequality is a moral issue because income inequality, from the experience o the United States, has moral consequences. By moral consequences is meant that income inequality has caused severe and substantial, demonstrated harms to society, and as such, falls into the sphere of right and wrong.
Income distribution can be viewed from two different functional perspectives. The first is the functional approach and the second one is the size. The functional approach relates to the distribution of income among factors while the second one, size relates to the distribution of income among individuals.
Poverty incident as measured by the social welfare index steadily declines in the South African region since 1980s. The government policies aimed at increasing international trade and removing economic discriminations against the rural markets largely contributed to the improvement of national poverty statistics in these Nevertheless the rural, urban and national poverty in some countries such as Zimbabwe and Nigeria are increasing (Sahn and Stifel, 2000).
n reality, this is not exactly the correct present day scenario, and for the last two decades we actually find that inequality is on the rise in almost all the countries worldwide, while poverty has shown only a slight decline. Though it is true that globalisation did not play a
Income may result from wages, rent, bank account interests, salaries or even profits made in business transactions ( Stiglitz, 2012).
In his hypothesis, Karl Marx foresaw income inequality in a capitalistic as a
This creates a situation whereby one will have to abandon some goods or services in order to enjoy more of others. In cases of inequality that is brought about by unequal distribution of wealth and resources, the budget lines of the individual citizens are highly
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