Essay On How Poverty Can Be Eradicated

Essay On How Poverty Can Be Eradicated-63
In Zambia, an average person living in such dire poverty might be able to afford, on a given day, two or three plates of cornmeal porridge, a tomato, a mango, a spoonful each of oil and sugar, a bit of chicken or fish, maybe a handful of nuts.But he would have just pocket change to spend on transportation, housing, education and everything else.The 1.2 billion people living in such extreme poverty, according to researchers at the Massachusetts Institute of Technology, might own land, but they are not very likely to own durable goods or productive assets — things like bicycles — that might help them raise themselves out of poverty.

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When I asked Jeffrey Sachs, the development economist, if the target seemed feasible, he said, “I absolutely believe so.” And Nancy Birdsall, president of the Center for Global Development, the powerful Washington policy group, told me, “In many ways, it’s a very modest goal.”In part, this is because the bar is set very low.

The World Bank aims to raise just about everyone on Earth above the $1.25-a-day income threshold.

Fortunately, this deadly and cyclical form of poverty is already on its way toward obsolescence, and much faster than many development economists expected.

The first Millennium Development Goal — to halve the proportion of the world population living in dire poverty by 2015 — was met five years early, as the rate fell to an estimated 21 percent in 2010, from 43 percent in 1990.

Given how big the world is, how big the goal is and how diverse economies are, it would take a multipronged approach, he said.

For parts of sub-Saharan Africa, it would mean huge electrification projects.“This is the global target to end poverty.”It sounds like the sort of airy, ambitious goal that is greeted by standing ovations but is ultimately unlikely to ever materialize. The end of extreme poverty might very well be within reach.“It’s not by any means pie-in-the-sky,” says Scott Morris, who formerly managed the Obama administration’s relations with development institutions.Back in Washington, while Kim delivered a sunny forecast for the developing world based on the premise that growth would continue, his counterpart at the I. F., Christine Lagarde, seemed stuck talking about problems — in particular, the economic malaise of the richest countries on Earth. “The developing world has gotten its act together,” Birdsall says.Would the Bank of Japan’s plan to end deflation by bathing the economy in yen work? Some economists had feared that the recession would arrest or even reverse the trend, given how interconnected the global economy is, but the improvement continued, unabated.Annual growth dipped for developing economies in 2009 but has since rebounded to about 5.3 percent a year, a figure dragged down by weaker peripheral European economies.In the early 1980s, East Asia had the highest extreme-poverty rate in the world, with more than three in four people living on less than

For parts of sub-Saharan Africa, it would mean huge electrification projects.

“This is the global target to end poverty.”It sounds like the sort of airy, ambitious goal that is greeted by standing ovations but is ultimately unlikely to ever materialize. The end of extreme poverty might very well be within reach.

“It’s not by any means pie-in-the-sky,” says Scott Morris, who formerly managed the Obama administration’s relations with development institutions.

Back in Washington, while Kim delivered a sunny forecast for the developing world based on the premise that growth would continue, his counterpart at the I. F., Christine Lagarde, seemed stuck talking about problems — in particular, the economic malaise of the richest countries on Earth. “The developing world has gotten its act together,” Birdsall says.

Would the Bank of Japan’s plan to end deflation by bathing the economy in yen work?

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For parts of sub-Saharan Africa, it would mean huge electrification projects.“This is the global target to end poverty.”It sounds like the sort of airy, ambitious goal that is greeted by standing ovations but is ultimately unlikely to ever materialize. The end of extreme poverty might very well be within reach.“It’s not by any means pie-in-the-sky,” says Scott Morris, who formerly managed the Obama administration’s relations with development institutions.Back in Washington, while Kim delivered a sunny forecast for the developing world based on the premise that growth would continue, his counterpart at the I. F., Christine Lagarde, seemed stuck talking about problems — in particular, the economic malaise of the richest countries on Earth. “The developing world has gotten its act together,” Birdsall says.Would the Bank of Japan’s plan to end deflation by bathing the economy in yen work? Some economists had feared that the recession would arrest or even reverse the trend, given how interconnected the global economy is, but the improvement continued, unabated.Annual growth dipped for developing economies in 2009 but has since rebounded to about 5.3 percent a year, a figure dragged down by weaker peripheral European economies.In the early 1980s, East Asia had the highest extreme-poverty rate in the world, with more than three in four people living on less than $1.25 a day. But other middle-income countries, like Brazil, Nigeria and India, have experienced significant growth, too — in no small part because tens of millions of the very poor have moved from rural areas to cities, where they become richer, healthier and more productive for their economies.Since 1980, the proportion of the developing world living in urban areas has grown to about 50 percent, from 30 percent, and according to the World Bank, that migration of hundreds of millions has been instrumental in pulling down poverty rates — and will be for a broader set of countries going forward.It also might mean replicating what has worked for those big, quick-growing emerging economies in poorer, poverty-stricken developing ones.More slums — as horrible as they are — could be a good thing. They are, but they do tend to find their way into the streets of Hyderabad, Accra and Lima.

.25 a day. But other middle-income countries, like Brazil, Nigeria and India, have experienced significant growth, too — in no small part because tens of millions of the very poor have moved from rural areas to cities, where they become richer, healthier and more productive for their economies.Since 1980, the proportion of the developing world living in urban areas has grown to about 50 percent, from 30 percent, and according to the World Bank, that migration of hundreds of millions has been instrumental in pulling down poverty rates — and will be for a broader set of countries going forward.It also might mean replicating what has worked for those big, quick-growing emerging economies in poorer, poverty-stricken developing ones.More slums — as horrible as they are — could be a good thing. They are, but they do tend to find their way into the streets of Hyderabad, Accra and Lima.

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