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Position Paper 2
Position Paper 2
SCHOOL OF TECHNOLOGY
POSITION PAPER
KARLA C. ASPACIO
INSTRUCTOR
Poverty is a state or condition in which one lacks the financial resources and
essentials for a certain standard of living. Poverty can have diverse social, economic,
Material prosperity and high quality of life are universal goals for
potential, it is difficult to predict the next new idea or to understand how genius may
thus depends on the expansion of human capital in its broadest sense, such that
individuals can more fully participate in the economic, social and cultural patterns of
Defining development in this way, and contrasting it with growth gives sense
of the business cycle and the conditions that gave recondition opportunities that
economy. This includes altering the industrial structure, the educational and
occupational characteristics of the population, and indeed the entire social and
institutional fabric.
prosperity and quality of life realized through innovation, lowered transaction costs,
and the utilization of capabilities towards the responsible production and diffusion of
in norms of openness, tolerance for risk, appreciation for diversity, and confidence in
the realization of mutual gain for the public and the private sector. Economic
creation, income generation, and improved living standards. Bartik argues that when
opportunities for individuals living in poverty. This, in turn, enables them to earn a
stable income and escape the cycle of poverty. Economic development fosters
Income inequality and economic growth for years has been seen as the major
contributor to poverty, and higher initial inequality tends to diminish positive growth,
and reduced growth impacts on absolute poverty. Moreover, it is now widely agreed
that economic growth alone is not a sufficient condition for achieving the poverty
poverty rates, since without economic progress we would not have an increase in the
average income, thus increasing the poverty rate through time. Nonetheless, this
income distribution as well. The greater the share of any growth that the poor
measuring the extent to which economic growth reduces poverty. It offers several
propositions to demonstrate that the initial levels of economic development and
income inequality can have significant impacts on poverty reduction. It offers several
demonstrates that the poverty tradeoff between growth and inequality can be
Moreover, Sinding (2009), stated that, economic development can help the
institutions and public authorities on sustainable development can also support the
Economists and demographers for the most part agree that important ingredients of
improved living standards, such as urbanization, industrialization and rising opportunities for
non-agrarian employment, improved educational levels, and better health all lead to changed
parental perceptions of the costs and benefits of children, leading in turn to lower fertility.
the poverty to the wealth of nations” the importance of targeted interventions, such as
investments in education, healthcare, and infrastructure, as well as the need for effective
what institutions can promote economic growth, reduce poverty, and conserve the
environment through the borrowing of technology. The book serves as a valuable resource
poverty.
Conclusion
opportunities, allowing individuals to earn a stable income and escape the cycle of poverty.
With more jobs available, people have the means to provide for their basic needs and
productivity and innovation, which in turn drives economic growth. As a result, the overall
wealth of a nation increases, providing more resources for poverty alleviation initiatives.
are essential for breaking the poverty cycle. Access to quality education equips individuals
with the skills and knowledge needed to secure better-paying jobs, while improved
rise above poverty and achieve upward mobility. By creating equal opportunities for all,
economic development addresses the root causes of poverty and paves the way for a more
inclusive and prosperous society. Economic development plays a pivotal role in combating
Working Paper.
Bourguignon, F. (2002). The distributional effects of growth: case studies vs. cross-
12(6/7), 6-33.
Feldman, M., & Storper, M. (2018). Economic growth and economic development:
Godo, Y. (2005). Development economics: From the poverty to the wealth of nations.
OUP Oxford.