Breaking the Poverty Trap
One of the reasons the rich get richer, and the poor get poorer, is because of the lack of not knowing and ignorance hindering half the world, allowing the cycle of poverty to continue. Poverty trap is as a spiraling mechanism, that forces people to remain poor binding many to no hope of escaping. The poverty trap has been an ongoing cycle within generations even those close to me, that has tremendously taken a negative toll on society and my family for nearly decades. Being a Haitian American descendant, I’ve not only seen that challenges my family faced, but my relatives back in Haiti are still facing till this day. I came to a deeper understanding it’s not late to save Haiti, and even the worldwide from poverty. We as a whole nation need to, enforce education, create business and increase jobs. Not only will these ideas change Haiti, but help their human development index world as a whole, and the induvial who are eager to leave poverty and are ready to end the inevitable cycle called the poverty trap. (Hubbard R. Glenn, 2009)
Most of the world has been taught to instill the importance of education to society, but in Haiti education is a luxury and if a child couldn’t afford the school they would get any seamless job to provide for their family. Which resulted in an uneducated population with limited economics opportunity for Haiti to advance. Many kids in Haiti today who have the chance to get an education still have a roadblock because of lack or resources for anyone to leverage their education. Which again initially causes the population of Haitians to be in poverty for decades. For example, a person in Haiti may never be able to save enough to escape poverty if they were to remain in a developing country with a small educated population but may have a better chance if they were able to move to a state with larger education population (Hoff Karla pg2, 2006). This lack of education is not only holding Haiti back. But making it harder to catch with up the world to advanced capitalist nations to leave the cycle. I stand firmly that useful education can positively transform every aspect of poverty. For instance, when I implied valuable training it’s indicating the need of more practical knowledge and skills their Haitians need to acquire that can grow its economy like learning to communicate which can help build a relationship then can get an investor to invest in their country. Another useful prime skill is learning how to leverage technology because it keeps on advancing, and more importantly, education can promote the young or even the old to become entrepreneurs and manage a business. Overall education in Haiti can promote agricultural knowledge, innovation, and efficient that can contribute incremental productivity to aid poverty in Haiti. (Perry, Guillermo,20016)
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In the light of, a prosperous country they realize the influential key factor of starting a business is essential for growth. Haiti has been known to have instability, and lack of governance which make it harder for them to advance because the country also has a shortage of business this impact their economy to promote establishing business would help add wealth to their country it could ultimately have a chance of escaping the trap. Many people today even American fail to see the actual values of having a small business and even large corporations to grow the economy and to initially end poverty. Trade is one of the great forms to embed poverty because it allows distribution of income, improvement in capital mobility, and overall generate cash flow. (Hoff Karla,2016) Generally speaking, if Haiti was able to allocate more corporations to accumulate money in their economy, it could help gain funds to fix rebuild their countries from the terrible natural disasters and no longer be an emerging country. A researcher has even clarified the root cause of poverty is prune to a lack of access to markets and resources. Additionally, we wonder why food and other sources are costly not only in Haiti but in poorer parts of the country. That’s due to lack of business because it can initially tackle the base of the pyramid it can’t bring fair prices to the people instead of forcing them to pay more. Starting a business that makes profits is one thing, but meeting the social needs to you buyers is another thing. For instance, if we were to create a business that not only helps the locals, and the whole country, by generating an excellent water supply to help prevent disease from spreading, and also creating technology security business that can help other parts of the world by stopping hackers. Why only have business within a country I tremendously believe greatly to help other around the world because that would add value to other countries and Haiti would be more prominent know which then can lead other business opportunity to them to branch out of poverty. Given that, these ideas can eventually turn into a profit for Haiti to advance it can’t happen if someone don’t take action and start planting seeds, so poverty can be gone in the next ten years there needs to be a process and dedication, and remember a government can’t reform overnight
We’ve all heard saying give a man a fish; you feed him for a day; teach him how to fish, and he will be able to feed himself for the rest of his life. This saying is so powerful because if you give someone money just for charity, it comes then go, but give someone a job their money will continue to be steady and grow. Undoubtedly, creating jobs is the most effective way to eradicate poverty, but also is an essential part, that many government leaders seem to ignore. Why continue to give Haiti foreign aid if we can create jobs. Creating jobs, it will generate employment, increase employability, and make the labor markets more efficient. (Karnani) It’s not possible for any country reduced poverty significantly without experiencing economic growth, but economic growth has had a widely different impact on poverty reduction across countries. A one percent increase in per capita GDP can reduce income poverty by as much as four percent or as little as one percent. The exact link between economic growth and poverty reduction is mediated by job creation. (Karnani) For example countries like China and India has seen drastic, rapid economic growth for several years primarily because of the process economic reform was initiated, but that’s not the root cause. Despite the reform, unemployment was a significant problem, but as soon as they created employment it approximately caused their per capita GDP to rise. Of course, job increase is a great way to reduce poverty, but in all reality putting more money in the economy and spending, and buying can aid, the market. In true reality, the poor need productive jobs that lead to higher income, and alleviate poverty.( World Bank,2002)
In the final analysis, it’s clear that many different routes can stop poverty trap. Whether its education that can allow Haitian people not to be ignorant of what’s going on around them, and it equips their people with skills and value to be responsible citizens. Overall education enables each individual to reach their full potential. As well as, creating a business to demonstrate that it grows their GDP, and overall have a higher capacity to assemble and maintain the growing progress of running a business and. Finally, creating jobs makes a huge impact regardless of the person being illiterate they can still put their hands to work to generate income and add to Haiti’s economy.
Overall, poverty to others doesn’t have to deal with just money many people who are living in poverty believe they are rich because of their mindset it starts with the end in mind so to end poverty it’s what you think that needs to be changed. Yes, there is more that goes in ending the poverty in Haiti and around the world, but there is still hope, where there is a vision it’s possible to stop that cringy word called the poverty trap.