Causes of Poverty | List of Main Reasons Discussed
Poverty is a state of lack of sufficient resources for living and well-being.
People in many countries face it and find it difficult to overcome.
Poverty is not a condition but is a situation in which one has to live through.
The only way to overcome poverty is to make some monetary transactions.
But till last few decades, the means of the transaction were limited to food, clothing, jewelry and a few other materials.
Now, ways for financial transactions are many due to the advent of the internet and technology.
Anyone with proper education and knowledge can overcome poverty through hard work and stay away from poverty world.
10 Causes of poverty.
1. Lack of education: Lack of education is one of the root causes of poverty. Education is one which has enabled many people to overcome poverty. Hence you can see almost all the nations in the world spend a lot on education. They provide even scholarships to those from economically backward families. Because of education, there was a spread of scientific knowledge. Hence there was progress regarding the production of automobiles, electronic gadgets which made enormous profits for the manufacturers. There was also a rise in employment due to such growth in economic benefits. So on careful observation, one can notice that poverty countries are those who lack sufficient education among their population.
2. Lack of resources: People or nations with some natural resources could eliminate poverty. Middle East countries which are previously considered as desert countries are now some of the wealthiest nations. This is due to the availability of petroleum resources by which they could generate massive income from exports. These countries are also afraid of the decline of oil reserves. Even if the other means of energy generation for automobiles like hydrogen technology arise, then these countries will witness poverty again.
But when the human population grows, these resources can decline fast and lead to poverty. So poverty is one of the important overpopulation problems.
3. International sanctions: Many nations were affected by international sanctions due to the acts of their governments. Countries like North Korea, Iraq, Russia suffered from international sanctions or economically advanced countries like the United States, European Union, Japan, etc. When these sanctions are levied, these countries are exempt from the benefits of foreign investments and imports. Then the people in those countries had to suffer from hunger and economic problems.
4. Invasions: Countries like England, France, etc. which invaded other nations looted them. For these nations, after getting freedom, it is very hard to recover from poverty. Thus many countries which were economically well off or had a lot of natural resources before had to suffer. Similarly, few countries were exploited for ivory, diamonds and other minerals by other nations. This invading and loot always left the people of host countries under poverty. Even countries like the united states of America had to work hard after being freed from colonial rule for economic empowerment.
5. Internal riots and protests: There are countries where lack of proper law and order contributes to poverty. This is because there cannot be the proper environment for business or work in places of no law and order. Many countries in the middle east, suffer from poverty due to communal violence, terrorism, etc.
Another way to see poverty is these people do not believe in the concept of money. They do not believe in the idea that they could be happier by having more money. They instead feel that possessing cash and other valuables will hinder spiritual growth. It is even quite true that having wealth always drive away peace of mind. Some religions also prescribe abandonment of wealth as a means to attain spiritual progress. Check differences between spirituality and religion for more idea.
Hence we can see many monks who have nothing but simple clothes to live in. They stay away from all the worldly pleasures which require money. In doing so, they tend to have more peace of mind and focus more on their spiritual progress.
7. Physical disability: Many people get disabled due to accidents. Some of them get it from birth while others become so in the course of life. For those disabled, it is very tough to perform routine tasks.
They cannot perform well on the job or even make a better businessperson. So those with a physical disability would be unable to generate income and may remain poor. Also, being disabled makes them feel inferior to others, and hence, they cannot take steps to create more wealth with confidence.
8. No family support: Many people are rich in life due to the wealth obtained from their family members. A person without a proper family rarely lives a prosperous life. Adequate family support helps one take up education and also the right decisions in business or investments. If not family, one at least needs good friends and well-wishers to live a better and prosperous life.
9. Ill health: If one develops ill health, then it would be difficult to perform their jobs. Even, they cannot make plans or goals to progress in life. Also if they have any plans, lack of proper health will help them impossible to execute. Thus they would not be able to achieve fullest potential and success. So one needs to take care of health to live better and perform well. This good health can be regarding both and physical and mental health. At least having physical illness would not potentially hamper a person’s financial progress. But having mental disorders like depression, anxiety would hinder him drastically and may even run him into financial losses. So better psychological and physical health contributes to wealth.
Also, Read Effects of poverty.
10. Lack of planning: This is also one of the prominent cause of poverty. Lack of financial plan for the future or old age also leads to poverty. Many old age people suffer from poverty due to a lack of regular income or savings at that period. Apart from physical weakness, poverty hurts them a lot. They cannot acquire nutritious food, medicine and also support to ease the stress of old age. So we can notice many old age people trying to get some monetary help. Nowadays it is quite easy to avoid such situations by opting for old age pension plans, making sufficient savings, etc.
11. Rampant Corruption: Corruption is a means by which people in positions would steal the funds meant for the welfare of the public. Many developing and underdeveloped countries suffer from this corruption. The people in power would divert the funds for personal purposes by corrupt means instead of spending on education, infrastructure, health facilities needed for the country population. Hence, you would notice countries with least corruption are well developed and vice versa.
11. Foreign aid: Lack of foreign aid or misuse of it are the causes of poverty. Few countries do not receive foreign assistance due to international sanctions. In other countries, this fund is misused by rulers instead of investing in education and other social welfare schemes.