Custom papers academic service


Propose the most effective way of reducing and or eliminating absolute poverty in the world

Explore the latest strategic trends, research and analysis In 1950, people in South Korea and Pakistan earned roughly the same amount of money annually.

Today, the two countries are scarcely comparable. Better economic outcomes mean empowering entire populations with better health, more education, longer life, and less vulnerability to challenges like natural disasters. But not all targets are equally good.

10 Solutions to Poverty

One of the least desirable targets seems laudable at first: Unfortunately, this is a dream, not a target. Economies need some unemployment to allow workers to change jobs, and most governments already focus on job creation. Research suggests that politicians and interest groups would use a full-employment target to support expensive, protectionist policies that generate great jobs for some but drive many into the informal economy.

So it would probably end up doing less good than it would cost, and it is certainly not the way to reduce extreme poverty. But, in addition to the financial cost, there would be huge administrative challenges, along with corruption and institutional deficiencies.

The best ways to fight extreme poverty

That is not a bad return at all, but there are many better ways to help. One possibility is to triple mobile broadband penetration in developing countries. This would provide small-scale business people such as farmers and fishermen with market information, enabling them to sell their goods at the highest price — and to boost productivity, increase efficiency, and generate more jobs. An even better intervention addresses migration. More than 200 million people today work outside their home countries.

As rich countries age, they need more workers. At the same time, people from developing countries are more productive in a developed country. Such migration would also be good for the developing countries, because migrant workers send home remittances.

The single development target that would have the biggest impact on global prosperity would be the completion of the Doha trade round. Lowering trade barriers would mean that all countries could focus on doing what they do best, making everyone better off.

Moreover, freer trade would accelerate economic growth, owing to increased innovation and knowledge exchange. Heavy reliance on trading in a global market was one of the main reasons that South Korea has developed so rapidly and essentially eradicated its poverty in the last 65 years.

Report Abuse

The number of people living in extreme poverty would fall by 160 million. And herein lies the problem. Trying to do 169 different things at once would be foolhardy. In fact, our research shows that there are 19 phenomenal targets that — like freer trade — should be prioritized above all of the others. The final decision about which targets will become global policy will affect the flow of trillions of dollars over the next 15 years.

Propose the most effective way of reducing and/or eliminating absolute poverty in the world.?

In September, when world leaders gather in New York, they need to focus on the smartest ways to boost global prosperity. This article is published in collaboration with Project Syndicate.

  1. Today, the two countries are scarcely comparable. But, in addition to the financial cost, there would be huge administrative challenges, along with corruption and institutional deficiencies.
  2. At the same time, people from developing countries are more productive in a developed country. Asia These 10 solutions to poverty illustrate that while there is a difficult road ahead, there is a viable path forward in pursuit of alleviating global poverty and creating a world in which all people can prosper.
  3. When governments are accountable to their citizens for their action, or inaction, in different areas of the federal budget, the citizens will be able to accurately assess how well their leaders are leading their country.
  4. This would provide small-scale business people such as farmers and fishermen with market information, enabling them to sell their goods at the highest price — and to boost productivity, increase efficiency, and generate more jobs. The MDGs helped to lift more than one billion people out of extreme poverty, to make inroads against hunger, to enable more girls to attend school than ever before and to protect our planet.

Publication does not imply endorsement of views by the World Economic Forum. To keep up with the Agenda subscribe to our weekly newsletter. A woman waits at a camp for people who have been displaced by a landslide at the Koslanda tea plantation near Haldummulla.