Financial Support for the Poor and Alternatives

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Table of Contents

Introduction
What Kind of Help is in the Best Interest for the Government?
Conclusion
References

Introduction

It is one of the government’s roles to address poverty and inequality in the country. However, the question arises as to whether any help can improve the situation or the methods vary in their efficiency. In this speech, I would like to address the issue of financial support for the poor and outline a healthier alternative that would work in the best interest of the government.

What Kind of Help is in the Best Interest for the Government?

The idea that giving money to the poor is counterproductive still seems controversial at best and cruel at worst. However, there is ample scientific evidence that shows that poverty impedes a variety of cognitive functions, which may prevent a person to put social benefits to good use. For instance, like Carvalho, Meier, and Wang (2016) report, being poor decreases cognitive capacity: the respondents showed low performance in completing spatial and problem-solving tasks.

Moreover, as stated in a study by Brito and Noble (2014) and Blair and Raver (2016), poverty counteracts creativity. Together with impaired long-term planning abilities, as proven by Crooks and Evans (2014), this combination may lead to adverse outcomes. This is especially true given that poverty is associated with the lack of self-control, meaning that those eligible for social benefits might as well waste their money (Bernheim, Ray, & Yeltekin, 2015). All these objective facts point to the necessity of helping the poor by educating them and improving their employment situation (Atkinson & Bourguignon, 2014).

Conclusion

A widening gap between the upper and the lower class may lead to the disappearance of the middle class, which is recognized as the backbone of modern society. Ongoing financial support might seem to be a feasible idea at first, but helping people escape poverty is trickier than it seems. Given the effects of being poor on the human brain, the government might be draining its budget and not amounting to anything significant. Helping the poor can and should be in the government’s interest, but only if it entails transferring skills and promoting literacy.

References

Atkinson, A. B., & Bourguignon, F. (Eds.). (2014). Handbook of the income distribution (Vol. 2). Amsterdam, Netherlands: Elsevier.

Bernheim, B. D., Ray, D., & Yeltekin, Ş. (2015). Poverty and self‐control. Econometrica, 83(5), 1877-1911.

Blair, C., & Raver, C. C. (2016). Poverty, stress, and brain development: New directions for prevention and intervention. Academic Pediatrics, 16(3), S30-S36.

Brito, N. H., & Noble, K. G. (2014). Socioeconomic status and structural brain development. Frontiers in Neuroscience, 8, 276.

Carvalho, L. S., Meier, S., & Wang, S. W. (2016). Poverty and economic decision-making: Evidence from changes in financial resources at payday. American Economic Review, 106(2), 260-84.

Crook, S. R., & Evans, G. W. (2014). The role of planning skills in the income–achievement gap. Child Development, 85(2), 405-411.

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Financial Support for the Poor and Alternatives

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