I want to know if you think poverty can be done away with...?

Question

I am writing a paper for economics and just wanted to hear some other opinions on whether you believe that we can do away with poverty in the United States... thanks :D

Answer 1

The definition of poverty is having less than half the median income. Eliminating poverty therefore requires elimination of the differences in earnings. Earnings are proportional to the amount of value a person creates for society (productivity). There is no way in our system to force the least productive people to be more productive, so within a capitalist system, it is not possible to eliminate poverty.

It is possible to eliminate poverty by using government force to redistribute earnings (socialism), but this is undesirable since disconnecting value creation and earnings greatly decreases productivity. You will eliminate poverty; but we would all have much less. (no one would make less than half the median income, but the median income would be much lower)

Answer 2

Poverty remains a harsh reality for people who are plagued by civil war, floods, droughts, and other problems. These factors are a nightmare to African subsistence farmers. Some have been forced to leave their homes and move to big cities or to live as refugees in a new country. Other rural dwellers move to cities because they are enticed by promises of a better life.
Overcrowded cities often become breeding grounds for poverty. There is very little space, if any at all, to plant crops. Employment is usually hard to find. Out of sheer desperation, many turn to a life of crime. City dwellers cry out for help, but human governments are unable to solve the growing problem of poverty. Referring to a United Nations report released in November 2003, The Independent of London stated: “The world is getting hungrier.” It added: “Across the world an estimated 842 million people are today undernourished—and that figure is again climbing, with an additional 5 million hungry people every year.”

Belief in a future paradise—in a new world without poverty—is not just a dream. It is solidly based on the promises contained in the Bible (Luke 23:42, 43, Isaiah 65:21, )

Answer 3

Although there is no guarantee that the world will solve the problem of sustainable development (i.e. poverty reduction and eventual eradication), there is nothing in modern growth theory or existing evidence to suggest that such an achievement is impossible. The standard path has always been increase in investment and bridging the domestic savings-investments gaps through FDI. The most important benefits of economic growth lie in its potential contribution to the long run struggle to raise living standards, to escape poverty and to minimize the tendencies and incidence of corruption. The cumulative effect of even small differences in growth rate becomes larger over a long period of time. It is also easier to redistribute income in a growing economy than in a static one. However, the opportunity cost of growth is the diversion of resources from current consumption to capital formation. Howbeit, for nations who are left behind in a rapidly changing world, the costs can be higher and more personal. Economic growth and development with their attendant benefits would be very hard to achieve if residents of an economy could not buy some goods and services from abroad and most importantly, export goods and services to generate revenue to pay for the imports. However, it should be noted that even the world super-powers like the US, still has about 30% of its citizens living in abject poverty. But then, it behooves nations to learn how to trade their way out of poverty as the Asian tigers have done in the 1980s and 1990s. Today, the Asian tigers are among the emerging markets and among the fastest growing economies. Indeed, they are on courses to eradicating poverty. However, how a nation achieves that will depend on the peculiarities of the economy concern. You may wish to contact me further

Answer 4

Only when mankind finally sees Poverty not as a situation but a state of mind.
Simply throwing money at people who have a Spirit of Poverty over their lives solves nothing. They only have more money to waste on poor decisions.
See Katrina Evacuees with FEMA Cards buying expensive clothes, purses, and lapdances.

Answer 5

No, not with the way society is defined now. There will always be a social ladder to climb as long as people are still trying to better themselves. As long as people feel the need to better themselves over others. Until we evolve into a society where there is no money or social status we will always have some form of poverty.

Answer 6

It could be done away with, but not as long as socioeconomic status is what defines some people and makes them who they are. The more people beneath them, the better they feel.

Answer 7

i don't think any country can avoid poverty. to be well stable, one needs a job, and there definitely not enough jobs as there are people needing jobs in this country or any other country.