-
Essay / Why are some countries poor? Poverty, macroeconomic...
Poverty is the fact of having little or no money and few or no material goods. The World Bank defines poverty as the inability of individuals to achieve a minimum standard of living, including low income, deprivation of basic needs, low levels of health and education, limited access to clean water and sanitation, insufficient physical security and lack of voice. According to the United Nations, poverty is “the inability to have choices and opportunities, a violation of human dignity.” Concern about poverty has a long tradition, and many economists have focused their studies on poverty and development. Why are some countries poor and others rich? This question has baffled many experts for centuries, trying to develop and construct theories to answer this debate and find a solution. Is there a universal answer and solution, or does each theory and result depend on the country? As we know, a crucial question in macroeconomics is government intervention: can markets, left to their own devices, achieve equilibrium in the long run, or does the government need to intervene? ? The reality is that all governments today intervene through their macroeconomic policies to achieve certain objectives and improve the overall performance of the economy. Throughout this article, we will encounter different theories and points of view that attempt to explain poverty and identify the link between poverty and poverty. , poverty reduction and macroeconomic policy. Why are some countries rich and others poor? This question has sparked speculation among many scientists who have used multidisciplinary approaches in accordance with explanatory theories. The reasons why the world has divided into socio-economic levels with further divisions within society itself are ...... middle of paper ...... favorable and the fact that a comprehensive approach may not give the best results for the country studied.BibliographyAcemoglu, D. & Robinson, J. (2012) Why Nations Fail. New York: Crown. Diamond, J. (1997) Guns, germs and steel: the fate of human societies. New York: WW Norton & Company Lipjhart, A. (1969) Consociational Democracy. World Politics, 21(2). Stiglitz, J. (2013). The Price of Inequality: How Today's Divided Society Endangers Our Future. New York: WW Norton & Company; 1 editionTsangrides, C. & Ghura, D. & Latte, C. (2000). Is growth enough? Macroeconomic policy and poverty reduction. Williams College. Hailu, D. and Weeks, J. (2011) Macroeconomic policy for growth and poverty reduction: an application to post-conflict and resource-rich countries. Economic and social affairs. DESA Working Paper n°. 108