Similarly to the Cultural Theory of Poverty, which explains how belonging to a socio-economic class (specifically being in poverty) for generations produces a new family culture that is distinct from others. Here, people are placed into situations beyond their control and are forced to adapt to that environment, thus resulting in a culture of poverty (Small 8). While this theory only explains that a culture of poverty exists amongst families that experience poverty for generations, it does not explain why that poverty occurs in the first place, highlighting a flaw. The Structural Theory of Poverty offers explanations for this occurrence.
This is defined as the poverty line of income at which a person has only enough to exchange a certain amount of food; basic needs and factors, which covers a wide range of factors other than the income, including the need for the community to provide the necessary basic social services. In order to avoid this some people, fall into poverty; and finally the “get hold of the” ability (or empowering) factor, which means poverty represents the lack of certain basic skills. On the other hand, social scientists understanding of poverty, differs from economists. Economists believes that in the poor personal freedom of choice, individuals control their own destiny, so one should be responsible for their own poverty. Social scholars on how to measure the causes of poverty which they are not interested in the main study are generally the poor, such as culture, power, social structure and other major non-personal factors can be controlled.
Upon investigating some more, I discovered that the credit card has 0% APR the first 15 months and is a point rewards card. The APR falls in the national average and the exclusive $0 annual fee is way below the $37 average. However, this credit card has a 3% on foreign transactions and limited rewards. Bank of America Bank of America’s top tier credit card (BankAmericard Travel Rewards) has no annual fee and a minimum purchases APR of 14.99%-22.9%. The APR falls in the average and the $0 annual fee is way below average.
First, he explains that the so-called “poverty trap” is not the cause of poor nations’ slow or nonexistent growth, despite the claims of foreign aid organizations. Easterly argues instead that bad governments and their interference with their economies may be the reason for many countries’ slow growth. To fix this problem, many aid organizations attempt to assist poor nations by restructuring their economic institutions from the top down. However, Easterly claims that these attempts have shown to be futile time and time again. He argues that this is because restructuring an entire economy from the top down is almost always bound to fail.
Malthus’s work is criticized on the basis that it did not consider the replenishability of natural resources through technological advancement. Karl Max was of different view. He argued that poverty and income inequality would rather bring doom to capitalism. He stated that poverty meant less consumption for the poor masses. This would lead to unsold stock (gut) and a stop to further production.
This is in line with the results indicated in Table 4.16 where majority of the respondents firm invested insignificant amount in R&D. 75.82% of the respondents firm spend between 1 to 50000 yuan on R&D while only 7.69% firms spent above 1 million yuan per year in R&D. Study also shown that 9 out 100 SMEs did not invest on R&D at all. As shown in Table 4.17, most SMEs did not spend significant amount of resources on R&D, so the percentage of R&D cost in company yearly expenses is relatively small (5% and below). Only five firms spent above 11% on their total expenses on R&D cost.
Unfortunately this right has not been granted in certain African and Asian countries. Places like Afghanistan, Burma, and Nepal all have a Gross Domestic Product (GDP) rate of less than $2,000 per capita. In Africa, the Democratic Republic of the Congo, Liberia, and Zimbabwe live with an average GDP of less than $500 per capita. Poverty can be defined as the inability to achieve a certain minimal standard of living—the state of being inferior in quality or insufficient in amount. “Almost half the world — over three billion people — live on less than $2.50 a day.
Amartya Sen gave a broader concept of poverty. His argument is that poverty can be measured by how much capability an individual has to function in the society. Poverty arises when people are unable to address certain key capabilities, or have inadequate opportunities to health and education facilities, or insecurity, or the absence of rights such as freedom of
This paper sorts to explore and assess the various microfinance interventions available in the Volta Region of Ghana and their impacts on the livelihood of participants and poverty reduction, since the impact of microfinance is highly contextual and might vary based on several economic, social, geographical, and environmental factors. The socio-economic variables under investigation with the microfinance services include the income level of consumers, the access to education, and access to health care ser-vices and hygienic environments. In review, savings, loans, training and development, and insurances are the most basic services provided by MFIs in Ghana and clearly, there is no doubt based on the proven results that these MF services help reduce the vulnerability of the poor and help im-prove on the livelihood of the poor. The empirical results presented in the previous section show, that participants in microfinance initiatives experience an increase in their income level due to different business opportunities and diverse sources of in-come available to them. Even though there was no clear cut of the exact percentage of the total participants who experience an increase in their income level and those who could not measure their experiences, there has been a tremendous
Pakistan is a developing country day by day, and also facing poverty problems , nearly majority of Pakistan lives in below the poverty-line. According to UNDP- human development report (2008), Pakistan has been 136th position from 177 developing-countries. Nearly, 73% people struggling less than 2 dollar per day. If we position of the Asian countries on earning-poverty, Pakistan offer in last from all the Asian states. Throughout the last ten years ,Government of Pakistan spent compareingtrillions-rupees for poverty reduces programs.