The Poverty Trap
*800 million in developing countries are starving or malnourished
*World produces enough food to feed all its inhabitants - hard to get the food to these area's though
-No knowledge of how to mass produce this food to send to other parts of your country
-Everyone also only grows food for themselves and their family, so when something happens to their land they have a problem because everyone is thinking the same way
*Vicious cycle, developing countries have a Very hard time breaking the cycle
*Country living in constant poverty
*Child labor is both a Cause and a consequence of poverty
*Kids don't get and education which when their older they can't get a job
*Then their area stays in poverty and so then their kids have to work again
*Starting schooling and education programs could help the problems but could take at least 20 years to actually have educated people start working
*Developing countries are in debt to the developed countries
*New income goes on this debt rather than take care of their own = Burden of debt
*Solutions = structural adjustment programs
*Developed countries have called for an easing of debts owed by HIPC's (Canada is a forerunner in this)
*World produces enough food to feed all its inhabitants - hard to get the food to these area's though
-No knowledge of how to mass produce this food to send to other parts of your country
-Everyone also only grows food for themselves and their family, so when something happens to their land they have a problem because everyone is thinking the same way
*Vicious cycle, developing countries have a Very hard time breaking the cycle
*Country living in constant poverty
*Child labor is both a Cause and a consequence of poverty
*Kids don't get and education which when their older they can't get a job
*Then their area stays in poverty and so then their kids have to work again
*Starting schooling and education programs could help the problems but could take at least 20 years to actually have educated people start working
*Developing countries are in debt to the developed countries
*New income goes on this debt rather than take care of their own = Burden of debt
*Solutions = structural adjustment programs
*Developed countries have called for an easing of debts owed by HIPC's (Canada is a forerunner in this)
Summary
The poverty trap is a vicious cycle that is very hard to break, which its continuous effects if would take at least 2 generations to stop it and start improving the economy.
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