Poverty is one of the most pressing issues facing our world today. It has a direct and significant impact on economic development, as it affects the ability of individuals, communities and countries to access resources, build infrastructure and create job opportunities. .Poverty is considered the result of a lack of resources, which leads to insufficient income and little opportunity to plan for the future. In this sense, poverty can be thought of as a long-term state that is difficult to escape from.Poverty alleviation refers to any actions taken by individuals or organizations with the goal of reducing poverty and its effects. Poverty alleviation initiatives can be both charitable and governmental in nature.
Poverty can lead to lower levels of education, health care and employment opportunities. This in turn can lead to decreased productivity, increased crime rates and reduced economic growth. It also limits the ability of individuals to take advantage of new technologies or participate in global markets. .The United Nations estimates that more than 1 billion people are living in poverty around the world. These people live on less than $1.25 a day and experience challenges such as limited access to clean water or sanitation, malnutrition or poor health care, poor housing and insufficient income for basic needs. . The poverty levels in the United States are currently at a record high. The number of people living in poverty has increased to 46.6 million people, according to the U.S Census Bureau's Current Population Survey report for 2015-2016 released on September 19, 2017.
The effects of poverty on economic development are far-reaching and long-lasting. If left unaddressed, it can perpetuate a cycle of poverty that is difficult to break out from. Therefore, it is essential that governments take steps to address poverty in order to ensure sustainable economic growth for their citizens and countries as a whole.
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