The Positive Impact ‘Ending Extreme Poverty’ may drive on the Global Economy and on the Environment (Part 2)

Throughout the course of Humanity, people have undertaken Actions over the years which has driven Positive Impacts in human society. Humanity is the human race, which includes everyone on Earth. It’s also a word for the qualities that make us human. Humanity means helping others when they need our help, whenever possible, at times ignoring our interests, extending unconditional love to each and every living being on Earth.
The present article is derived from a book (collection) titled “Positive Impact to Humanity“, available on Amazon and on Morebooks.   As the World is witnessing Environmental, Social and Health Crises occurring in the countries, the Book “Positive Impact to Humanity” is written to  for inciting Humanity on the need for the implementation of Positive Actions in human societies for improving Life on the planet.
The Book “Positive Impact to Humanity” is a collection comprising three works:
  1. an analysis on how reducing Extreme Poverty will drive a Positive Impact on the Global Economy and on the Environment.
  2. a narrative presenting the Positive Impacts Benjamin Franklin, the 15th of a family of 17 children, forced to leave school at the age of 10 due to financial difficulties, has contributed to make in Society throughout his life journey.
  3. the story about the martyrdom of the only surviving grandson of the Prophet Mohammad of Islam and descendant of a long line of divinely appointed Messengers, the Imam Hussein, along with his family and companions, in an epic battle between Good and Evil 1335 years ago in Karbala, which laid the ideological foundations for drawing Humanity’ international borders.

The Positive Impact ‘Ending Extreme Poverty’ may drive on the Global Economy and on the Environment.  (Part 2)

( The Part 1 of the present analysis can be accessible here, http://www.lteconomy.it/blog/2019/11/01/impact-of-ending-poverty-on-the-global-economy-and-the-environment-part-1/)

 

 Extreme poverty globally remains unacceptably high

There has been marked progress on reducing poverty over the past decades. In 2010, Five years ahead of schedule, the world attained the first Millennium Development Goal target – to cut the 1990 poverty rate in half by 2015. Despite the progress made in reducing poverty, the number of people living in extreme poverty globally remains unacceptably high. And given the forecasts on global growth, poverty reduction may not be fast enough to reach the target of ending extreme poverty by 2030.

Below are some statistics that show the scale of global poverty (Stats 1-3: World Bank, 4-5: UNICEF) :

1) 767 million people, or 10.7 percent of the population, live in extreme poverty with less than $1.90 per day, an amount which is impossible to support a healthy livelihood in any part of the world. 2.1 billion people live on less than $3.10 per day. Nearly 1/2 of the world’s population — more than 3 billion people — live on less than $2.50 a day.

Africa is the continent with the largest number of people living in extreme poverty. Below is a breakdown of where people living with less than $1.90 per day are located.

383 Million in Africa

327 Million in Asia

19 Million in South America

13 Million in North America

2.5 Million in Oceania

0.7 Million in Europe

We can also see that India is the country with the largest number of people living in extreme poverty (218 million people), with Nigeria and the Congo (DRC) following with 86 and 55 million people, respectively.

2) 328 million children are living in extreme poverty. 1 billion children worldwide are living in poverty. At least 17 million children suffer from severe acute undernutrition around the world. Severe acute malnutrition is the direct cause of death for 1 million children every year. According to UNICEF, 22,000 children die each day due to poverty. Every single day, 1,000 children under 5 die from illnesses like diarrhoea, dysentery, and cholera caused by contaminated water and inadequate sanitation.

The World Bank estimates of global extreme poverty does not take into account high-income countries. But how well does this simplifying omission capture the reality of people living there? A simple look at the reality of homelessness in high-income countries suggests that we need to take this question seriously. This discussion of data limitations in the context of World Bank poverty estimates highlights an important fact: any estimate of poverty—of either its level or its change over time—is surrounded by a margin of error. Income and consumption, as measured by household surveys, are not usually perfectly comparable. Despite efforts to broaden the definition of incomes for the purpose of measuring poverty, in many countries the definitions used by statistical agencies still fail to account for the consumption that occurs out of ‘non-income’ resources such as savings and assets, borrowing, and some forms of government welfare benefits.

The World Bank’ definition of Extreme Poverty is indeed extreme – living on $1.90 per day is very difficult. Hence, it is both interesting and important to measure poverty with higher poverty lines. The World Bank reports poverty headcount ratios using a higher line at 3.10 int.-$. Measuring poverty through headcount ratios fails to capture the intensity of poverty – individuals with consumption levels marginally below the poverty line are counted as being poor just as individuals with consumption levels much further below the poverty line. The most common way to deal with this is to measure the intensity of poverty, by calculating the amount of money required by a poor  household in order to reach the poverty line. In other words, the most common approach is to calculate the income or consumption shortfall from the poverty line. 

 

In the table below, we look at some of the top causes of poverty around the world

Inadequate access to clean water and nutritious food, Epidemic diseases (such as AIDS, malaria, the Covid-19’ global pandemic … ) … Little or no access to livelihoods or jobs, Emigrations caused by conflicts or environmental disasters. …
Conflicts at communities levels, and at countries levels Inequality, a Culture of   poverty. …  
Poor education …

 

Climate change,  Environmental Issues. …
Countries’ lack of resources, production capabilities, and infrastructure, Lack of economic growth in countries … Limited capacity of countries’ governments, Overpopulation.
The Cultural context, the priorities, the lack of commitment for populations’ well-being, the political context, and the policies in the countries or the communities. … Lack of assistances or no easy access to assistances in the countries or the communities, Lack of awareness on the existing opportunities…
People’ inabilities to cater for themselves due to disabilities, physical insecurities, health issues, age or mental issues … Jobs losses, Businesses bankruptcies, debt with no income stream …

( The article is to continue in Part 3)

Fadairo Kelly Wilfrid, is a contributor editor for the Long term Economy Blog

 

 

 

 

Kelly Wilfrid Fadairo

The Major Purpose of my Life is to contribute to the Global Effort undertaken for Building a Better World to be left as inheritance for the Coming Generations. I am a Christian

Kelly Wilfrid Fadairo has 4 posts and counting. See all posts by Kelly Wilfrid Fadairo

Kelly Wilfrid Fadairo

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