Poverty Assignment Example | Topics and Well Written Essays - 500 words - 1

Poverty - Assignment ExampleThe outcome will be the increase in the per capita income and improving the living standards of the passel. This is also attributed to the fact that people will take resources and rearrange them in a manner that is more valuable to them.When a country invests in the new technology, the potential output of the run and goods will increase. This is because the technology will make the production process to be more efficient. For instance, the widespread mechanization that happened in 18th and in 19th speed of light enabled the United Kingdom to produce more output from very few resources. This enabled them to become one of the fully industrialized economies. Recently, the Chinese government experienced a rapid rate of growth callable to application of the new technology in their process of manufacturing (Romer, 5). Therefore, an economy can never grow if few resources ar allocated to the capital good.Some of the causes of poverty in third world countries include the third world debt, lower exportation race, poor agricultural practices, wishing of food, lack of technology, overpopulation and some of the individual behaviors are some of the causes of poverty. The causes of poverty has becomes complex in the global economy. Additionally, the increase in income inequality leads to poverty, this is because the inequality lowers the living standards of people due to income differences (Romer, 6). For instance, the income gap has been on the rising trends in the US since 1970s, the income gap reflects the changes in the international trade, technological change, and a reduction in the unionization of all evidence within the rising income gap.I do agree with Christine Svellinger, because it is true that the poverty issue has grown to be a pervasive and massive issue. Countries have attempt developing the economies with technology and industry with varying success level. Most of the third world countries lack the necessary raw materials and skills from the