Question

Write briefly about global poverty

Answer 1

Answer:

1990: The World Bank defined extreme poverty as people living on $1 or less a day. Around 1.85 billion people, or 36 percent of the world's population, lived in extreme poverty. Nearly half the population in developing countries lived on less than $1.25 a day......

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Answer 2

Global Poverty

Explanation:

• Global poverty is the original condition of the whole human race.  By a gradual process of greater social co-operation, based on the division of labour and capital accumulation, people have gradually attained higher living standards.   The main reasons why poverty continues are traditional and modern. The traditional restraints are  restricting trade with people from other castes or societies, and restricting capital accumulation because for example, the owner of capital has obligations to give it to others.  
• The main modern reason for poverty is government. Despite its claims to the contrary, just government does consumes capital, restricts trade, reduces the division of labour, and thus causes society to be poorer than it otherwise would be.  

The theoretical maximum of wealth that the world could attain is if the whole world was joined in one free trade zone, with free movement of goods, services, capital and labour. Again the main restriction on this is government.