1) State your problem as clearly and precisely as you can
Poverty is the lack of necessities, such as food, medical care, safety, housing, and shelter. Poverty is commonly known as a third-world problem, although the definition has been recently changed about several issues. To some people, poverty is the inability to purchase basic needs; the word necessity varies from individual to individual (Smith, 17). To other people, poverty is the lack of resources to participate in the customs of life. The government depends on the availability of accessible resources and therefore sets poverty thresholds for its citizens. For instance, excluding people from development is the root cause of poverty.
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2) What is your purpose, goal, and need for solving this problem?
Poverty prevents people from attaining their needs. For instance, limited financial resources mean limited access to education facilities. It is for this reason that most poor people are usually illiterate. Additionally, limited financial resources mean one cannot access proper medical attention. The rich can access proper medical care by providing coverage premiums (Machin 9).
3) Study the problem to determine the “kind” of problem you are dealing with. What kind of problem are you trying to solve? What do you have to do to solve it?
Poverty is associated with different factors. The cause depends on the definition of poverty. As seen earlier, the definition varies and depends upon the person defining it. This section shall discuss the different causes of poverty with their solutions based on the theories of poverty definition discussed earlier. The difference in social class is the primary cause of poverty. The social class extends to laws that favor the rich and make the poor even poorer. In theory, Karl Max says that social divisions cause even more poverty. He recognizes that societal laws contribute to even more poverty. For example, the political classes are the rich, and those have the power to make laws that favor them, alienating the poor.
4) What from your problem do you have control over, and what do you have no control over?
The social class divisions deny the poor access to essential needs such as healthcare and education. Discrimination involuntarily isolates certain individuals from particular levels in society. This discrimination goes to the extent of a lack of access to economic resources. Marx says that poverty can be eradicated through the enactment of anti-discriminatory laws (Jung & Smith 16). The poor are also not adequately represented in the political sphere, most of the representation positions are occupied by the rich, and therefore it is hard to advocate for the interest of the poor. He explains that adequacy in employment is the main ingredient of eradicating poverty. Simple and adverse actions, such as environmental pollution, make the poor suffer more (Jung & Smith 16).
5) What information do you need to solve the problem? Explain. How can you actively seek the information you need to solve the problem?
Unemployment is strongly associated with poverty; several factors, such as inflation, asset market bubbles, and high foreign debt, cause it. When the rate of inflation is high, then the rate of unemployment is likely to increase (Rank 903). High inflation rates cause high costs in production. With the high cost, employers will likely cut down on the number of employees or the wages and salaries.
6) What theory or theories can you formulate concerning this problem? Carefully analyze and interpret your theories and draw reasonable inferences.
High inflation rates also increase the prices of basic commodities. An inflation rate increase always increases the poverty rate (Sach 3). A very high foreign debt burdens taxpayers and will likely lead to unemployment.
7) What information do you need to solve the problem? Explain. How can you actively seek the information you need to solve the problem? 7) Determine your options for action. What can you do in the short term? In the long term? Recognize your limitations in terms of money, time, and power.
In my opinion, social class division causes poverty. When the society consists of the poor and the rich, likely, the poor will not access essential resources to get their needs. Social class division cause unemployment, limited access to credit facilities, limited right to vote, and limited access to education. Therefore, if the social class division is eradicated, then poverty will be eliminated.
8) Evaluate your options, determining their advantages and disadvantages. Adopt a strategy. Follow through on it. Evaluate and assess the implications of your action/strategy.
Where there is no social division, there is equal distribution of resources. The poor are in a good position to access basic needs such as education, food, and shelter. At the same time, they can participate in political decision making which is very important for improving their economy.
Jung, S. Young., & Smith, Richards.“The economics of poverty: Explanatory theories to inform practice.” Journal of Human Behavior in the Social Environment, 16, 2007
Machin Stephen “Education and inequality in eds.” W Salverda, B Nolan and T M, 2009.
Sachs, Jeffrey. “The End of Poverty.” Penguin: London 2005.
Rank, M. Rodgers. (2001). “The effects of poverty on America’s families: Assessing our research knowledge.” Journal of Family Issues,903, 2001.
Smith, Adam. “An inquiry into the nature and causes of the wealth of nations.” Methuen & Co., Ltd: London, 1776.
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