Even though it was not as severe as the Great Depression, it still dealt a heavy blow to our nation in general. The reason I am here talking about child poverty is so that we can work together as a nation to help decrease the rise of child poverty and make the future of our nation even brighter and stronger by starting from our children. But first, let us all look at some of the impacts child poverty has on our nation. First, it reflects badly on the government for being unable to prevent the child poverty rates from increasing and becoming the second worst of the developed nations. This also makes us citizens concerned about our future as the rates of child poverty is still increasing even though it is much slowly then how fast it was increasing.
Less developed countries are poor because they do not have adedquate capital resources for investment. Professor Nurkse stated that: “The main reason of vicious circle of poverty is the lack of capital formation”. A country which has poor finance is trapped in its own poverty. A country can get rid off from poverty if its rate of capital formation increases than the rate of population growth. Nurkse said: “On both sides of the problem of capital formation in poor countries a vicious circle exists.” So capital formation is the key to economic development by demand and supply of
Austerity policy is not good in the current situation, because it could cause revolution, increasing unemployment, decreasing GDP,export and government cannot afford money on education, so poor people became not to be able to go to school. I think austerity policy is for when country is in a good time, not recession. (Pettinger, 2013). Stimulus policy is much better than austerity policy though there is some problem. It leads to increase GDP, inflation, economic growth and decrease unemployment.
We must take in consideration that there are risks when investing in a volatily company. But in a few years, when this new money will settle down, it could be a great opportunity for investment. Meanwhile, it is important to be on the same page as the developed countries because if we are not, we will always be under other countries having the same poor life quality. Perhaps, prohibit people to use digital tokens isn’t the correct solution, but to educate them on how to build wealth by spending money
Welfare is crucial for the society to function. We’re able to give an opportunity at life that in certain ways, they cannot provide by themselves. It strengthens our economy and is essential for society to continue to function and progress. As it helps people to become more educated, the assistance provides a better variety/option for work. Welfare is definitely abused, but the positive effects it gives to our economy, strongly outweigh the negatives.
If the standard of living in a certain place's economic growth increases, people who earn a lower income would face big challenges to pay for their expenses and they might feel that they have no other choice besides to commit crime, or to live in poverty. Surprisingly, many people choose to commit crime to increase their own standard of living, rather than living in poverty. This obviously increases the crime rate and therefore, a sudden increase in the price levels in an economy may have a negative effect. This explains how not all economic growth is good. As I said before, if there is a good economy rate then prices will affect people with lower incomes and they would be classified as poor and may even live in poverty, which would be bad for the economy.
Economic policies should not be in place to produce growth without first establishing set political system. A government with no plan and only money is doomed by greed. I think that leader X is the easier choice as he/she provides false promises to escape poverty sooner rather than later, however, poverty is often more than a lack of money and can also include a lack of rights. Having basic human rights needs to be the first step out of poverty, otherwise some in society will always live at the expense of
This also includes the development of the living; the populist system will give chances for the poor people to have voices and to develop their own living as equal as the wealthy one. For the disadvantages are that First; it makes the economics to be come more fragile by increases the public debt by using lots of money to succeed the schemes. Second; the people who gets the benefits are in groups not entire. As the above paragraph has stated that some schemes are only suitable for some groups of people. Third; the system can leads to corruption because of the amount of money that the government use is a very large amount of money.
Developing countries, however, have a low standard of living, they compromise the standard of living for future generations and have a low level of economic growth and security. Developed countries are run by stable and non-corrupt governments whereas developing countries are run by unstable, unfair and corrupt governments who do not look out for the wellbeing of the country. Developed countries offer good education which enable the people of the country to gain the necessary knowledge to further increase the economic development of the country. Developed countries also have the necessary technologies to help preform the necessary tasks to increase economic growth and development. People in developed countries enjoy their lives as they maintain wealth, technologies such as mobile phones and televisions and maintain a limitless amount of safe
This originated from the Kuznets study where Kuznets compared his data on numerous countries and he showed that, among developing economies, those poor nations with low growth have a greater amount of equality than those middle-income nations with higher growth. So stemmed the view that there are trade-offs between growth and equality. Many economists have argued that, logically, if countries re-distribute wealth and capital among the population then it will be stretched too thin and savings and investments for future capital, and thus growth, would drop. Whereas if the wealth and capital were concentrated on a smaller minority, they will have greater control and ability to save and invest. According to them, redistributive policies which attempt to create equality can harm a nation’s ability to grow.