Causes of the Poverty in Developed and Undeveloped Countries

    How would you feel if in your country $100,000,000.00 were turn it into $1? This situation occurred in Venezuela, a country rich in natural resources, but whose inflation exceeds the unimaginable. According to the International Monetary Fund, “The inflation in Venezuela will reach 10 million percent this year,” turning the economy of this nation into one of the most miserable in the world. Inflation is an economic term related to the increase in the price of goods and services. In other words, inflation decreases the purchasing power of people, who with the same salary can acquire fewer and fewer products.  Therefore, inflation is one of the main causes of poverty in the world. It is estimated that extreme poverty reached 15% of the world population in 2017, a lower proportion with respect to the value of almost 43% register in 1990 (Bono 85). However, to continue with this projection and eradicate extreme poverty worldwide, we must first begin by knowing the origins of this global scourge, whose causes differ between underdeveloped and developed countries.  

    Among the main causes of poverty in underdeveloped countries we can name: Lack of resources, armed conflicts or wars, dictatorial political regimes, natural disasters, and corruption. In fact, Democratic Republic of the Congo (DRC), is one of the poorest African countries in the world due to corruption. It is estimated that 76.6% percent of its population lives below the poverty line, that is, 52.8 millions of people live on less than  US$1.90 per day (World Bank).

    Although the causes of poverty in underdeveloped countries vary from one country to another, it can be affirmed that corruption is one of the main causes of poverty in third world countries. When we speak of corruption we refer to the diversion of money for personal purposes by officials who are in power; consequently, the economic growth of the countries will be negatively affected.. Michal Paulus and Ladislav Kristoufek of Carolina University in Prague, Czech Republic, found a correlation between corruption and Gross Domestic Product per capita (GDP) of a country. Both claim that countries with lower monetary value of GDP  are also the most corrupt and put Somalia and North Korea as the countries that top the list of most corrupt nations.  

    However, underdeveloped countries are not the only ones in the world that need to fight against this political, economic, social and cultural problem; actually, many developed countries also face the challenge of combating poverty.

    Not all people living in developed countries live in acceptable conditions. There are certain segments of the population that fall behind in cycles of poverty whose main causes vary from unemployment, disability, social and economic inequalities, mental problems, additions, low wages, persistent racism and the high cost of housing. For example, in the United States, 40.6  million people live in poverty - that's around 12.3% of the population (Fontenot, Kayla, Jessica Semega, and Melissa Kollar). The reason for this phenomenon varies from inequalities in the concentration of wealth to the absence of affordable housing. Although the cost of living varies from one state to another, the part of the population most affected will always be minorities. Indeed, African-Americans and Native Americans "Are more than twice as likely to live in poverty as whites" (“Mapping poverty in America”).

In conclusion, poverty affects the standard of living of the population in both developed and underdeveloped countries. Combating this global problem is everyone's task. To reduce the rates of poverty in the world, we need to demand from our governments, the sectors of power, and the owners of capitals to take the necessary actions to achieve a more equitable distribution of wealth in the world.

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