Aid in its simplest form is a basic income grant, a form of social security periodically providing citizens with money. In pilot projects in Namibia, where such a program pays just $13 a month, people were able to pay tuition fees, raising the proportion of children going to school by 92%, child malnutrition rates fell from 42% to 10% and economic activity grew 10%.[33][34] Aid could also be rewarded based on doing certain requirements. Conditional Cash Transfers, widely credited as a successful anti-poverty program, is based on actions such as enrolling children in school or receiving vaccinations.[35] In Mexico, for example, the country with the largest such program, dropout rates of 16-19 year olds in rural area dropped by 20% and children gained half an inch in height.[One of the proposed ways to help poor countries that emerged during the 1980’s has been debt relief. Given that many less developed nations have gotten themselves into extensive debt to banks and governments from the rich nations, and given that the interest payments on these debts are often more than a country can generate per year in profits from exports, cancelling part or all of these debts may allow poor nations “to get out of the hole”.[47] If poor countries do not have to spend so much on debt payments, they can use the money instead for priorities which help reduce poverty such as basic health-care and education.[48] Many nations began offering services, such as free health care even while overwhelming the health care infrastructure, because of savings that resulted from the rounds of debt relief in 2005.[49]Universal public education has some role in preparing youth for basic academic skills and perhaps many trade skills, as well. Apprenticeships clearly build needed trade skills. If modest amounts of cash and land can be combined with a modicum of agricultural skills in a temperate climate, subsistence can give way toward modest societal wealth. As has been mentioned, education for women will allow for reduced family size—an important poverty reduction event in its own right. While all components mentioned above are necessary, the portion of education pertaining to the variety of skills needed to build and maintain the infrastructure of a developing (moving out of poverty) society: building trades; plumbing; electrician; well-drilling; farm and transport mechanical skills (and others) are clearly needed in large numbers of individuals, if the society is to move out of poverty or subsistence. Yet, many well-developed western economies are moving strongly away from the essential apprenticeships and skill training which affords a clear vocational path out of modern urban poverty.
The Essay on The Wealth And Poverty Of Nations
In The Wealth and Poverty of Nations: Why Some are so Rich and some are so Poor, David Landes sets out to elucidate the causes of the divergent destinies of different economies. In doing so, he presents economic history as a profoundly Eurocentric anecdote. He posits that Europe’s industrial revolution is the epicenter of modernity and the means of how some–largely western Europe and ...
Efficient institutions that are not corrupt and obey the rule of law make and enforce good laws that provide security to property and businesses. Efficient and fair governments would work to invest in the long-term interests of the nation rather than plunder resources through corruption.[3] Researchers at UC Berkeley developed what they called a “Weberianness scale” which measures aspects of bureaucracies and governments Max Weber described as most important for rational-legal and efficient government over 100 years ago. Comparative research has found that the scale is correlated with higher rates of economic development.[53] With their related concept of good governance World Bank researchers have found much the same: Data from 150 nations have shown several measures of good governance (such as accountability, effectiveness, rule of law, low corruption) to be related to higher rates of economic development. [54]
Funds from aid and natural resources are often diverted into private hands and then sent to banks overseas as a result of graft.[55] If Western banks rejected stolen money, says a report by Global Witness, ordinary people would benefit “in a way that aid flows will never achieve”.[55] The report asked for more regulation of banks as they have proved capable of stanching the flow of funds linked to terrorism, money-laundering or tax evasion.[55]
The Term Paper on Central Bank Euro Currency European
Brief History and Implementation Schedule On January 1, 1999, eleven European countries replaced their national currencies and introduced a single European currency, the Euro. Some feel the euro is simply the ECU (European Currency Unit) renamed since the ECU's were exchanged one-for-one for new euros. Bills and coins for the national currencies will remain in circulation as sub-denominations of ...
Examples of good governance leading to economic development and poverty reduction include Thailand, Taiwan, Malaysia, South Korea, and Vietnam, which tend to have a strong government, called a hard state or development state. These “hard states” have the will and authority to create and maintain policies that lead to long-term development that helps all their citizens, not just the wealthy. Multinational corporations are regulated so that they follow reasonable standards for pay and labor conditions, pay reasonable taxes to help develop the country, and keep some of the profits in the country, reinvesting them to provide further development.
The role of women in poverty have also contributed to the cause of household survival. Thus, poverty reduction can only be actively done by understanding the level of gender role and gender differences within households. This will help reduce factors of poverty aside from the obvious income disparities.[58] When given more rights and opportunities women begin to receive more education, thus increasing the overall human capital of the country; when given more influence women seem to act more responsibly in helping people in the family or village; and when better educated and more in control of their lives, women are more successful in bringing down rapid population growth because they have more say in family planning.[59]
Another approach that has been proposed for alleviating poverty is Fair Trade which advocates the payment of an above market price as well as social and environmental standards in areas related to the production of goods. The efficacy of this approach to poverty reduction is controversial.
Community and monetary economist Thomas H. Greco, Jr. has argued that the mainstream global economy with its debt-based currency has built-in structural incentives that create poverty through keeping money scarce. Greco points to the success of modern barter clubs and historical local currencies such as the Wörgl Experiment at revitalizing stagnant local economies, and calls for the creation of community currency as a means to reduce or eliminate poverty.[60]
The Essay on Economic Ukraine Development State
Ukraine is situated in the southeastern part of Central Europe and has its own territory, government, national emblem, flag, and anthem. It borders on Russia, Byelorussian, Moldova, Slovakia, Romania, Hungary, and Poland on land and Russia, Georgia, Bulgaria, Romania and Turkey on sea. After Russia, the Ukrainian republic was far and away the most important economic component of the former Soviet ...
The Toronto Dollar is an example of a local currency oriented towards reducing poverty. Toronto Dollars are sold and redeemed in such a way that raise funds which are then given as grants to local charities, primarily ones oriented towards reducing poverty.[61] Toronto Dollars also provide a means to create an incentive for welfare recipients to work: Toronto dollars can be given as gifts to welfare recipients who perform volunteer work for charitable and non-profit organizations, and these gifts do not affect welfare benefits.[62]
Poverty has historically been accepted as inevitable as non-industrialized economies produced very little while populations grew almost as fast making wealth scarce.[1] Poverty reduction, or poverty alleviation, has been largely as a result of overall economic growth.[2][3] Food shortages were common before modern agricultural technology and in places that lack them today, such as nitrogen fertilizers, pesticides and irrigation methods.[4][5] The dawn of industrial revolution led to high economic growth, eliminating mass poverty in what is now considered the developed world.[2] World GDP per person quintupled during the 20th century.[6] In 1820, 75% of humanity lived on less than a dollar a day, while in 2001, only about 20% do.[2]
Today, continued economic development is constrained by the lack of economic freedoms. Economic liberalization requires extending property rights to the poor, especially to land.[7] Financial services, notably savings, can be made accessible to the poor through technology, such as mobile banking.[8][9] Inefficient institutions, corruption and political instability can also discourage investment. Aid and government support in health, education and infrastructure helps growth by increasing human and physical capital.[3]
The Essay on India, China Economic Growth
India with about 1. 2 million populations and china with about 1. 3 billon population are two big demographic and emerging countries in the world . Over a past few decade India’s combination into the economic has been accompanied by remarkable economic growth (World Bank 2011¬). India is having the 3th position on the economy in purchasing power parity (PPP) terms (The Economic Times, 2012). ...
