The level of economic development is the major indicator of the place that the country stands on the international economic scene or economic staircase. However those can be reduced gradually by several solutions which will be listed in details as the following description. This should be changed so that instead of being taxed on how much money goes into your account but on your salary. What do you think are the main causes of this difference and what do you think can be done to reduce the gap? There are many other cases in the commodity sector as well as in the financial sector. Gap Between Rich and Poor Nations Gap between Rich and Poor Nations How can we bridge the gulf between rich and poor within nations and between successfully developed and less developed economies? This paper will discuss two main factors that cause poverty in developing countries… 2102 Words 9 Pages difference between rich and poor is becoming more extreme, and as income inequality widens the wealth gap in major nations, education, health and social mobility are all threatened. Certainly many of Barbanti's observations remain true in this different context and time.
Firstly, the government should develop schemes and provide scholarships which will help people from the poor section afford quality education. It is the duty of the international bodies to help such countries in developing infrastructure suitable to use technology properly. Institutional Factors : While such things as technology and natural resources are obvious factors in economic development, less obvious factors may be of equal or greater importance. Thesis Rashbrooke discusses that inequality society often associate with the large income gap, as the result wealthy people feel more power to overcome people in poverty. Economic Policies and Institutions : Economic policies of the government also play an important role in determining the rate of growth and pattern of development. In this article, writers indicate the case of growing gap between rich and poor in Golden — Area A by filing plenty of data. Another, important function of government that effects economic development is its role in providing property rights—or failing to provide such rights.
Bridging this gap can only be done if equality was achieved in the basic needs like education and healthcare. Since there is no government policy to stabilize the rise in poverty, other factors help widen the gap that is the shrinking middle class. When the stock of unbroken nuts gets exhausted the capitalist system collapses for want of markets. That one percent makes over four hundred thousand a year. Instead of restraining their spending the government instead needs to allocate their budget in a more efficient and productive manner, such as investing in creating more jobs and implementing re-training programs and facilities, which would not only help people become eligible for more jobs but also help the weak construction industry if this is implemented nationwide.
What can we do about it? Although various geographic factors have played a major role in the economic opportunities available to various peoples, economic development also affects the influence of geography. In the long run, we should change the way how we understand about life. Find out about the intractable conflict-related work that others in the peace and conflict field are doing. Thus, development thinking rewarded rational behavior, linked to urban entrepreneurship and capitalist development. The agriculture sector promotes industrial growth in various ways. The global marketplace exposes retailers to an unprecedented number of customers. Sorry, but copying text is forbidden on this website! Hirschman in his discussion of unbalanced growth strategy completely ignored agriculture which, it was alleged has no linkage with the other sectors.
Given their capabilities and power, rich nations often recover more quickly than their poor counterparts. Is it possible to relate intractability to this divide? Increased immigration can cause an economy to fall. It is saddening that as the country economy keep growing the rich become richer while the poor continue languishing deep poverty. The poor did not necessarily get poorer but the gap between the poor and the affluent was continuously widening. Companies that do not necessarily want to support sweatshops feel pressure because of competition, competition that could offer lower prices and abundant amounts of production.
This brings conflict in different forms, as local culture institutions and structures have to adapt or risk dying out. The State of Agriculture 3. This has resulted in the paradox of the rich among the poor. A lot of people may argue that Americas problem is a racial problem. In my opinion, it has detrimental influence in aspects local stability and evolution. Such policies are to be designed, implemented and monitored by strong institutions which ensure high quality governance, to reduce the degree of corruption, to ensure efficiency of the public sector and to protect private property rights.
Even we are not rich, we can also take part in volunteer work to help those people. Underlying these ideas was the Weberian concept of modern rational, urban, disciplined versus traditional superstition, rural, undisciplined. As a result, they are not hired for a wealthy job. However, this phenomenon is out of control and puts the country into a stagnating growth phase which generates instability… greater part of the members are poor and miserable. If an acceptable ease was managed for the common people in their daily routines like public transportations and business facilities, that would also be helpful. The issue of gap between rich and poor has still been significant over recent decades in our society.
The separation of white and black corresponded directly with rich and poor. But first, it is necessary to clarify some concepts. This is one of the causes of failure of green revolution in many poor countries. So it is to believe that rich nations should provide any possible supports to poor nations in order to minimize this gap together as one. Lot of research studies has established the relation between the increase in global integration and growing inequality in developing economies. Nowadays globalisation is on everyone's lips.