How To Break Vicious Circle Of Poverty?

Break spiritual bondage of poverty

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This vicious circle of poverty is what many call a poverty trap. The concept of a poverty trap is crucial to understanding why foreign aid is necessary to lift impoverished countries out of stagnation. A poverty trap is anything that perpetuates poverty and is self-reinforcing. For example, the prevalence of malaria in the African Sahel perpetuates poverty by reducing health and standards of living, and is also self-reinforcing because the poverty that it creates precludes the people living there from funding any practical solution. So the cycle continues, with malaria creating poverty and poverty reinforcing malaria. That is, of course, until something can break the cycle.  Many places in the world are substantially disadvantaged by their geographical characteristics. Sub-Saharan Africa, in particular, is prone to poverty traps simply because of where it is. A hot, dry climate means the malaria parasite will be particularly powerful. It also becomes extremely difficult to farm. Because so many countries in Africa are landlocked, they have no easy way to trade or fish.  In terms of what causes poverty traps, diseases like malaria have already been mentioned. Lack of infrastructure can be a poverty trap. For example, businesses won’t want to invest in a new factory if the country lacks roads, electricity, water supply, etc. Since nobody will want to invest, the government will continue to lack the funds to build roads, supply electricity and water, and so on.  In fact, extreme poverty itself can be a poverty trap. Think about how investment is usually funded. There are lots of ways – but no matter what it requires some kind of personal savings. Businesses need individuals to invest in equity, bonds, etc. But when a significant portion of a population is so poor that they must spend essentially all of their income on simply staying alive (known as subsistence level income, a condition that is true for vast majorities of people in numerous countries), then they can’t afford to save. Since individuals can’t save, the country’s economy isn’t going to grow. This is evidenced by many Sub-Saharan African countries, who have had tiny, zero, or negative growth rates for the last few decades largely because there simply isn’t any investment.  But, there is one good characteristic of a poverty trap – it can be broken. Since its existence relies on a cyclic, self-reinforcing mechanism, one must simply break one of the factors and the trap no longer exists. If families were given malaria nets to protect against the malaria parasite, their standards of living would go up, they would be able to spend less time being sick and more time working, and perhaps they would eventually be able to afford their own malaria nets. If subsistence farmers in impoverished countries were given food, water, and other basic goods, they might be able to finally save some of their income to start a small business. Eventually, they would be able to support themselves without any aid.  For more on poverty, and what the U.S. Can do to help, see The Borgen Project, a national nonprofit focused on ending global poverty.

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