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Assignment On Political Economy-2

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5 views

Assignment On Political Economy-2

Uploaded by

numanahmed0080
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Assignment on Political Economy

Submitted by:
Name: Numan Ahmed
Department: Economics
ID Number: 20401107
Session: 2019-20

Submitted to:
Md.Aftab Hossain
Lecturer,Department of Economics
University Of Chittagong
Question: Poverty as a social problem in underdeveloped countries. Insights into
the state's role in creation an recreation of poverty.

Ans:

Poverty is a multifaceted social problem that plagues underdeveloped


countries, causing a wide range of negative consequences for
individuals, communities, and nations. It is a complex issue with deep-
rooted causes, and addressing it requires a comprehensive and multi-
faceted approach.
The state plays a crucial role in both the creation and recreation of
poverty in underdeveloped countries. Here are some key insights into
this role:

Creation of poverty:

* Economic policies: Neoliberal economic policies that favor


privatization, deregulation, and free trade often lead to the concentration
of wealth in the hands of a few, while the majority of the population
struggles to survive. These policies can also result in job losses, wage
stagnation, and increased inequality.
* Political corruption: Corruption is rampant in many underdeveloped
countries, diverting resources away from essential social services and
infrastructure. This can lead to poverty, as people are unable to access
basic needs like education, healthcare, and clean water.
* Lack of investment in human development: Governments in
underdeveloped countries often prioritize economic growth over human
development. This results in underinvestment in education, healthcare,
and social safety nets, which can trap people in a cycle of poverty.
* Conflict and instability: Conflict and instability can displace people,
destroy infrastructure, and disrupt economic activity, leading to poverty
and hardship.

Recreation of poverty:
* Structural inequality: Once poverty is established, it can become self-
perpetuating. Structural inequalities, such as discrimination based on
caste, religion, gender, or ethnicity, can limit opportunities for people to
escape poverty.
* Lack of access to education and healthcare: People living in poverty
often lack access to quality education and healthcare, which can prevent
them from acquiring the skills and knowledge needed to secure better
jobs and improve their livelihoods.

* Debt: Poverty can lead to debt, as people are forced to borrow money
to meet basic needs. This can create a cycle of debt, as people struggle to
repay their loans and are forced to borrow more.
* Lack of social safety nets: In the absence of social safety nets, people
living in poverty are vulnerable to shocks, such as illness, disability, or
job loss, which can push them further into poverty.
Addressing poverty requires a comprehensive and multi-faceted
approach that involves:
* Economic policies: Implementing economic policies that promote
equitable growth and create jobs.
* Good governance: Strengthening institutions and combating
corruption to ensure that resources are used effectively and efficiently.
* Investment in human development: Investing in education, healthcare,
and social safety nets to empower people and provide them with the
opportunities they need to improve their lives.
* Addressing structural inequalities: Taking steps to address structural
inequalities and discrimination.
* Building resilience: Helping communities and individuals to build
resilience to shocks and stresses.

It is important to note that addressing poverty is a long-term process that


requires sustained effort and commitment from all stakeholders,
including governments, civil society organizations, and the private
sector.

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