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The end of poverty: economic possibilities for our time by Jeffrey Sachs - Essay Example

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The end of poverty: economic possibilities for our time by Jeffrey Sachs

47% by the readings of 2008, from the 1990 to 2010 the rate of extreme poverty has increased and thus it is a great challenge to the world to reduce the levels of extreme poverty (News & Broadcast, n.d.).
It can be defined as a type of poverty where general needs are met. This includes countries where the estimated income falls from $1 to $2 per day. Moderate poverty is most common problem of the countries where hyperinflation exists.
It is defined as economic inequality in the location or society in which people live. If we refer to history we get to know that poverty had been mostly accepted as inevitable as traditional modes of production were insufficient to give an entire population a comfortable standard of living. After the industrial revolution, mass production in factories made wealth increasingly more inexpensive and accessible. Of more importance is the modernization of agriculture, such as fertilizers, in order to provide enough yields to feed the population. People who practice asceticism intentionally live in economic poverty so as to attain spiritual wealth.
Poverty is the part of any social culture that exists in this world. It can be termed as a negative element of the society that unfortunately is there presents everywhere. Developed or developing, countries also face poverty to some extent. The economic imbalance is very contradictory and is so far the main reason of poverty. Education, health, geography, infrastructure all relate to the subject.
How we define poverty is critical to politics, policy and academic debates about the concept as Lister (2004) has examined. However a lot of work is done to define poverty and policies have been made to at least reduce the extreme poverty. Individuals, groups or families in the population are said to be in the poverty when there is lack of resources, and the utmost necessities of living that includes diet, medication, shelter, transportation etc are not met. There are many countries in the world that ...Show more
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Summary

Poverty can be simply termed as the lack of money, or more described as the deprivation of almost everything in life. There can be three types of poverty:
According to the estimation…
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