Poverty Effects and How They Are Handled

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Table of Contents

Poverty effect on the mental capacity of individuals and entire societies
The role unemployment plays in the effects of poverty
How the poverty situation is handled by the national and world leaders
References

Poverty effect on the mental capacity of individuals and entire societies

Poverty is one of the most common challenges that the entire world faces. Every continent and state is working harder to ensure that they overcome the challenge. Research shows that financial strain increases the chances of developing mental health in society (Lahat, 2018). Inequality in society, malnutrition, limited access to quality education, and other social discrimination aspects bring mental struggles. It is, therefore, essential to provide jobs with a decent income to ensure that poverty is eradicated. In this way, it will be easier to control mental health in a way.

The role unemployment plays in the effects of poverty

Unemployment is a major issue contributing to poverty, while underemployment also plays a significant role. The only element that poor people have to improve in their well-being is provision of labor. Creating and establishing competitive and productive job opportunities will play an important role in reducing poverty in societies. Quality jobs will provide income to the younger people and women in the community. Economic growth will lead to the rapid reduction of poverty. Upon expansion of the economies, the number of jobs created will be massive, and the income levels will scale up. Therefore, in the equation of poverty reduction, job creation should take the central stage.

How the poverty situation is handled by the national and world leaders

Most of the leaders in the world handle the persistent poverty problem from the same angle, since the strategies they employ focus on expanding the agricultural sector and rural development. The focus on developing and facilitating small and medium-sized enterprises (SMEs) is a great strategy but more needs to be done in this area. Indeed, empirical evidence shows that SMEs play a leading role in creating employment opportunities and enhancing productivity, especially in developing countries (Abisuga-Oyekunle et al., 2019). Such outcomes contribute significantly to poverty reduction efforts. When dealing with the number of jobs to be created, the qualitative aspect should also be addressed. Many enterprises can be launched, but the qualitative part of them might be very low. The taxes imposed on small and medium enterprises are sometimes too high that eliminating poverty through them might be hard.

How should governments consider both the qualitative and quantitative aspects of job creation?
Why should job creation and income targets focus more on women and younger people?

References

Abisuga-Oyekunle, O. A., Patra, S. K., & Muchie, M. (2020). SMEs in sustainable development: Their role in poverty reduction and employment generation in sub-Saharan Africa. African Journal of Science, Technology, Innovation and Development, 12(4), 405-419. Web.

Lahat, L. (2018). The effects of knowledge about poverty, exposure to poverty and trust on policymakers’ perceptions about poverty.Social Policy & Administration, 52(3), 611-630. Web.

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Poverty Effects and How They Are Handled

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