Poverty has many causes and most of these are nearly same all around the world. Inadequate infrastructure, health and education deprivation, corruption and political unrest are some common causes for poverty. Poverty has a vicious circle of interrelated factors. Lack of education filches the opportunity to think big for new horizons and society remains uncompetitive and poor. Same is the case with other factors. These factors are the birth child of poverty and give birth more poverty.
Poverty and its causes have many key factors which are easy to understand and figure out but very hard to address.
One of the most devastating affects on overall income and cause of poverty is growth of population. Population growth rate is varies form 4.5% to -3.0% annually, the average growth rate of world is 1.13% its mean the population of world will be doubled in next 50 to 60 years.
In poor countries the population growth rate is higher and contrary the economic infrastructure is far less developed than developed countries. The resource of the country and foreign aid hardly meet the demand of life survival and no development activities can be flourished.
Inadequate Education and Employment
Literacy rate in underdeveloped countries are very low consequently less skilled persons and insufficient share in world’s business. With low economic activity it is very hard to handle poverty.
Global Distribution of Resources
Global business is in the hands of developed countries and they are reaping the fruit of resources of world. Investors finance large projects all around the world and take over the resources of underdeveloped countries and make huge profits. The under developed countries are dependent on developed countries as lack of finance, skill and technological resource.
High Standards of Living and Costs of Living
There is huge difference in cost of living when compared to developed country to an under developed one. A report tells that in last century the difference was 1:2 and in current time the difference is 1:70. There are still above three billion people below $2.5 daily wage. An average rich individual of a developing country may equal to a poor of a developed country.
some time countries geographical condition is unfavorable which lead to poverty for example African countries has harsh weather which doesn’t allow normal daily activity.
Economic and demographic trends, lack of individual responsibility, welfare dependency, Social inequality and corruption are also some main causes of poverty.
Solutions of Poverty
[adsense1]It is difficult to found any ready made solution for poverty. There is no universal formula that can be practically implemented in all parts of world. History proves this fact that every country who achieved good economic condition has tailored its route. For defining best tool to eliminate poverty form some country it is important to find out the root cause of poverty then start form addressing there onward there are brighter chances to get rid.
Poverty and financial happiness is to opponent extremes, so the best possible way to overcome poverty is creating ways for self sufficiency. Health and education are the basic solution which can work in all conditions. According the geographical and demographic conditions there could be customized solution. For example in Asian developing countries like Pakistan there is great opportunity to start working on agriculture. For this purpose there should be implementation of best methods to increase production of agricultural products and sell them to rest of the world to earn foreign exchange. Basic health facilities, Quality education, consistent and good political infrastructure, better management system, control over corruption and correction of balance of payments are some basic issues which are likely to be addressed on priority bases to get rid of vicious circle of poverty.