The menace posed by poverty is a gross challenge affecting both the underdeveloped and developing economies. This paper specifically explores the subject of poverty as a modern social challenge by examining the causes and solutions that have been proposed to minimize the growing economic disparity among the rich and poor nations.
Rugina, A. N. (1998). Dehumanization of modern civilization and a new, schumpeterian explanation of poverty. International Journal of Social Economics, 25(5), 661-692.
Rugina (1998) attributes the modern trends in the growth and development of poverty to elevated levels of capitalism that is being practiced by several economies across the world. The author asserts that the challenge being posed by the high poverty levels has not been addressed adequately especially by policy makers and those who describe themselves as thinkers.
One of the most outstanding thinkers of the 21st century was Schumpeter Joseph. The author has pointed out that the latter managed to expound the inherent reality of the modern trends in capitalism.
While poverty has often been perceived as a localized problem in some poorly performing economies, there are myriads of underlying complications that are yet to be unearthed by modern economists. Schumpeter attempted to describe the nature of capital formation in relation to the manner in which new projects are funded.
Although some developed economies have propagated both local and foreign direct investments as the core solutions to eradicating poverty, Rugina (1998), through the arguments posed by Schumpeter Joseph, reiterates that members of the modern society have been compelled into “forced savings” in the pretext of alleviating poverty.
The author adds that the benefits that might be derived from such investments are redirected to those who are economically empowered instead of uplifting the standards of people living below the poverty line.
On the same note, the actual incomes of people are ingeniously reduced due to forced savings as compared to voluntary savings. Any other surplus value generated by an economy is shared out among the capitalist individuals and governments. In any case, the surplus value may not be generated by the private sector due to stringent economic regulations that are often capitalist in nature.
Ana, C. C. (2002). Life chances and modern poverty. Urban Design International, 7(3), 223-224.
Ana (2002) tends to offer a unique perspective on the concept of poverty by maintaining that economic conditions of individuals should be used as the only benchmark of assessing their status of poverty in society. It is vital to understand various dynamics that constitute challenges in life. The same dynamics may also be instrumental toward the rapid growth of poverty in the modern society. Hence, both the political and socio-cultural conditions have contributed in the growing trends in poverty.
There are vital similarities and differences that can be drawn from the concepts of the developed and developing economies. It is definite that countries that are poorly developed are equally facing dire levels of poverty.
The developed countries also experience their own classifications of poverty trends. Nonetheless, it is factual that there is a growing economic gap between countries that are considered to be rich and those that are still struggling with basic needs such as adequate food supply, healthcare services and illiteracy.
In addition, the author notes that countries that belong to the developed world are quite few compared to the entire world population. They are about 35 in total. This implies that the remaining countries (over 170) have been classified under the developing world.
Nonetheless, it I pertinent to note that poverty is a glaring reality across the globe. Although the author does not expound on the various factor that enhance the growth and development of poverty, it is vivid that the world population in the modern society is facing a common economic threat.
Shah, A. (2013). Causes of Poverty. Web.
This article analyses the available information on poverty status across the world. The information provided in the article notes that up to half of the world’s population lives within the poverty bracket. The author also recognizes the fact that the combined wealth of the 41 poorest nations in the world cannot match with the wealth of seven richest nations in the world. The world had promised to minimize spending on weaponry and utilize the money in fighting poverty although this has never been implemented (Shah, 2013).
Illiteracy is also a major issue that is highlighted in this article. Almost one billion people are illiterate in the current century. Poverty is so pronounced in the world that for every two children in poor economies, one is subjected to poverty. Furthermore, almost one million children lack the basic human needs.
The author highlights the causes of poverty and acknowledges that the world has enough resources to deal with the menace. The systems in place that are managed by poor economic policies and corruption have resulted into poor living and dilapidated living conditions.
The information in this article is very important to my research since it provides enough data that can enrich the study. The data will also make improve the conclusion part of the research since it is relevant in terms content.
Srinivas, H. (2012). Causes of Poverty. Web.
This article analyses the detailed causes of poverty. Poverty in this case is determined by several factors based on individual and aggregate theory. Some of the individual factors that encourage poverty include intelligence, level of education, age, health, discrimination, sex, and culture. Unless such factors are addressed adequately, the menace posed by poverty will continue to thrive (Srinivas, 2012).
The analyses of the aggregate theories of poverty (namely the case and generic theories) offer an in-depth understanding of the dynamics of poverty and the various causes. The author of this article is quite specific on how poverty starts and grows. The relevance of the study as an academic source is irrefutable. This source is therefore important in assessing the various levels at which poverty is understood by scholars. This will help me in the development of the problem statement.
Moran, B. (2008). Race and Wealth Disparities: A Multidisciplinary Discourse. Lanham, Maryland: University Press of America.
This book is also a rich source of information on poverty status around the world. The author begins by describing how the current disparities in wealth distribution began. A historical overview of the current differences in racial wealth distribution is also documented.
The book offers thorough analyses of the current policies that encourage poverty in the United States and across the world. A factor such as corporatism and how it enhances inequality has also been discussed. The sociological perspective of the poverty status is deeply analyzed based on the differences among races.
Education is a key factor that brings out differences in the social status of people. It also creates a gap between the poor and the rich individuals. The author identifies the roles played the current laws and policies in propagating disparities in the modern society (Moran, 2008).
This is definitely a rich source of information on critical analysis and in-depth understanding of the issues surrounding poverty. It is an excellent source of information that exposes a lot of information behind the current economies disparities among various economies across the globe. The use of such a source will enhance the credibility of the study on poverty.
References
Ana, C. C. (2002). Life chances and modern poverty. Urban Design International, 7(3), 223-224.
Moran, B. (2008). Race and Wealth Disparities: A Multidisciplinary Discourse. Lanham, Maryland: University Press of America.
Rugina, A. N. (1998). Dehumanization of modern civilization and a new, schumpeterian explanation of poverty. International Journal of Social Economics, 25 (5), 661- 692.
Shah, A. (2013). Causes of Poverty. Web.
Srinivas, H. (2012). Causes of Poverty. Web.