Have you ever thought that poverty and the widening gap between rich and poor can be stopped? Or did you always think that the solution to this problem is somewhere beyond your understanding, that it would be too difficult? This speech should make you look with greater optimism at our mutual social future. Poverty can be overcome by expanding agricultural development. Also, structural financial development affects the reduction of economic problems. Resource allocation practices can also be very helpful in this regard. These are some of the strategies, the subsequent application of which would significantly reduce the level of poverty around the world.
First and foremost, the international government should consider innovative strategies for agricultural expansion. The use of such introductions could increase the amount of food produced and, as a result, lower the final price for the purchaser (Ivanic and Martin, 429). Thus, the problem of hunger in many countries and poor regions would be overcome, which is a step towards overcoming poverty. Moreover, one should pay attention to the distribution of finances. Using various methods of calculation, scientists increasingly come to the conclusion that good financial management at the federal level can solve the problem of poverty (Rewilak 169).
Last but not least, government allocation of natural resources and investment in environmentally friendly initiatives are important. This problem seems to be the most ramified since its solution depends on the administrative skills of local authorities. The distribution of natural resources by professionals who are aware of the close connection between the economy, ecology, and society could significantly ease the living conditions of many people. Many countries and their economies are directly dependent on their ecosystems. Contrariwise, deforestation and soil erosion can have an extremely negative economic impact on the country’s inhabitants.
Thus, there are several strategies that, if applied at the local, federal and international level, could significantly reduce the level of poverty. They all exist in interconnection, as they require the allocation of resources and finances. In conclusion, one can say that it is from the help of a skilled state apparatus and investment in advanced economic programs that poverty around the world can eventually be reduced.
Works Cited
Ivanic, Maros, and Martin, Will. “Sectoral Productivity Growth and Poverty Reduction: National and Global Impacts.” World Development, vol. 109, 2018, pp. 429-439.
Rewilak, Johan. “The Role of Financial Development in Poverty Reduction.” Review of Development Finance, vol. 7, no. 2, 2017, pp. 169-176.