Why Some Country Rich but Others Poor - 2449 Words

Why are some countries rich while others remain poor? How does globalization contribute to the wealth or poverty of nations? To tackle these questions we have to recognize that both are very open and it is probably very hard to have a definite answer. My purpose with this essay is to analyze what I consider to be the most important aspects of these questions taking into account my research, background and experiences. I will try first to address both questions and at the end present conclusions that interrelate the answers to both of them. Why are some countries rich while others remain poor? The fact is that we live in a world of inequality, and the gap between rich countries and poor countries is growing as measured by some†¦show more content†¦Aid does need to be better directed and monitored. It also needs to focus on such basics as health and education, and to make use of local knowledge. Recent studies show aid works better when given to countries that already have reasonable governance and economic policies. Yet there is little use in lecturing countries in which the population is dying of hunger or AIDS on the need to open their markets and become more competitive. Chronic hunger stunts brains as well as bodies, ensuring children will never reach their full potential. People who are sick and weak from lack of food do not march in the streets demanding the overthrow of undemocratic governments. Some countries need aid, and a great deal of it, before they can even begin the process of development. While birth rates are declining in rich countries, the populations of the worlds least developed nations are expected to triple over the next 50 years. Global stability is one important reason why rich countries should strive to raise the living standards of people in the most poverty-stricken countries. An even more important reason is our shared humanity. How does globalization contribute to the wealth or poverty of nations? Clearly, globalization is a fact that can be seen almost everywhere, and this process has a very powerful impact in every aspect of current societies. How can Less Developed Countries (LDCs) take advantage of globalization? There is extensive research that backs upShow MoreRelatedWhy Are Some Countries Rich While Others Poor?1502 Words   |  7 Pagescenturies: why are some countries rich while others poor. This is a question about economic growth. Take Korea for example. Korea had been divided into North and South Korea since 1948. These two countries share nearly the same geography, history and culture. However, the GDP per capita in the South Korea is only 3.22% of the South Korea. Another phenomenon is that the rapid growth had been observed in East Asian in recent years. This is another key economic issue: whether the growth rate of poor economicsRead MorePoverty in Third World Countries1654 Words   |  7 PagesHelping poor people is ethical behavior and everyone should do it in order to continue our lives. Every year, there are millions of people at risk of going hungry. There are ways people can end poverty all around the world. People can eliminate poverty if we work together to fight it and avoid selfishness. Rich countries often give financial aid to poor countries, but it does not solve poverty. People always say they feel sorry for poor people and the rich love them, but they never do their partRead MoreWhy Do People Come America? For Corn Dogs?1332 Words   |  6 PagesWhy do people come to America? For Corn Dogs? The Statue of Liberty? To be deported? If you were to ask someone who immigrated to America why they came they would not respond with any of those answers. People come to America for a chance at the â€Å"American Dream†, but what exactly is the â€Å"American Dream†? The American Dream is the belief that everyone has an equal opportunity to achieve success through hard work and determination. Through this there would be little to no class system permanently fixingRead MoreWhy Do People Come America? For Corn Dogs?1332 Words   |  6 Pages Why do people come to America? For Corn Dogs? The Statue of Liberty? To be deported? If you were to ask someone who immigrated to America why they came, they would not respond with any of those answers. People come to America for a chance at the â€Å"American Dream†, but what exactly is the â€Å"American Dream†? The American Dream is the belief that everyone has an equal opportunity to achieve success through hard work and determination. Through this, there would be little to no class system permanentlyRead MoreThe Reasons for Global Inequality1428 Words   |  6 Pagesbe an ever pressing issue of concern across many subjects and specifically that of economics. The industrial revolution and globalization are great catalysts to why some nations are so rich and others so poor as they allowed for competition and specialization. There are many other factors as to why certain nations are poor and others rich, arguably historical reasons, structural reasons, abundance of resources and fops, lack of diversification, political issues and systems, geographical issues andR ead MoreSocial Classes Of The Rich And The Poor1535 Words   |  7 Pagesthe Republicans. This is evident in other systems because of the increased need in humans to gain and take whatever power that they might be able to. Not far off from government, this is seen in the economy, but it isn’t a longterm, straightforward battle. The two forces fighting against another are the social classes of the rich and the poor. This isn’t a battle for power on the side of the poor, but for equality and stability, while control is what the rich have, and what they intend to keep aRead MoreRich And Poor Countries : The Economic Conditions Of The World1245 Words   |  5 PagesBecause of this, many countries quickly prospered thanks to the industrial revolution and technological advances, while other countries stagnated in poverty. These actions defined the current socio-economic conditions of the world. Today, there is a considerable difference between rich and poor countries. Th at is, developed countries do a very good job in providing the basic necessities for their populations such as food, education, healthcare and more. Meanwhile poor countries lack of these resourcesRead MoreEconomists Estimate Wealth And Poverty1736 Words   |  7 Pagessanitation, and other phases of human well-being. Usually, wealth and poverty measured regarding income. Information on income is readily available, credible, and relevant, particularly in discussing poverty in the United States, wherever the inherited wealth is a small factor, and most people live on wages and salaries. It s beneficial to think of wealth and poverty about one another. That s because income inequality is truly the underlying issue in poverty, particularly in developed countries. In theRead MorePoverty : The Third World915 Words   |  4 Pagesextremely poor. Lack of money will not let them buy the most necessary materials that every single human being in this world needs such as enough food, cl othes, a house where they can live safely. This lack of materials can lead those people to various other diseases which they are unable to get treatment for. It is known that the number of poor countries is more than the number of wealthy countries. I do not believe most of the countries were rich the time it was found. They became rich by involvingRead MoreThe Cause And Causes Of Poverty1325 Words   |  6 Pagespoverty is a â€Å"Condition where people s basic needs for food, clothing, and shelter are not being met†. Due to the serious effects and causes of poverty, it has always been an important issue throughout the world. Causes of poverty vary from country to country but the biggest and most common causes are things such as national debt., disabilities, health issues, war, social inequality, lack of education, and natural resources. Poverty comes with many negative effects on the world such as world hunger