Table of Contents
Advise to Solve Poverty in Republic of Chittagong
How to solve the Republic of Chittagong’s poverty problem. First of all, the prime minister, Dr. Amina Aboubakar especially requested to me about trying to solve woman, religion, ethnic, and young people poverty. Before starts to advising, to solve Chittagong’s poverty problem, we should know about the word meaning of poverty. Poverty is defined in a dictionary as being poor or having no basic needs.
Which means those people does not have money to live with the economic system but also does not fulfilled with appropriate shelter to live, foods to eat, and clothes to wear. There are several reasons to maintain the poverty problem. But the biggest reason for national poverty in developing countries is the national society structural unbalancing. Republic of Chittagong’s prime minister, Dr. Amina Aboubakar also realize that problem. That is the reason to hire me to get some advice about that.
So, solve this problem, I will suggest 4 main different policy. One is improvement educations with the healthcare system. Another one is built basic infra-structures for improving the market system. Improve labor force in a short time. And very lastly, I will suggest Basic Livelihood Security System. However, we consider it first about social system. But Through the request paper, the prime minister is female. Which means this country has an opportunity to eliminated poverty and promoting economic status appropriately.
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For the first, I would like to suggest the improvement of basic education and the improvement of health care. Which method could be the longest term of the policy to output to recognize this country’s economic improvement. First of all, economic indicators in each OECD country show that the purpose of encouraging basic education is to provide more and more economic marginal benefits by receiving the education. But the biggest problem with this policy is that it takes too long to reach the aforementioned economic growth. So, the marginal costs are too high to solve such a single problem as poverty resolution. However, there is a saying that is atmospheric in the proverb of the Asian country. This word is similar to the term High-Risk High-Return.
This means that even though economic growth is so slow and seemingly unable to deal with the problem of poverty, the children who are educated can eventually grow up and raise the overall economic community, including poverty. Second, basic health insurance is essential for this growth. If the government discounts hospital costs and privatizes them, the people who are economic players will be able to concentrate more on their next-generation education. And this could raise the possibility of poverty and economic growth. For these reasons, the goal of development to solve a poverty problem was set as the first policy that combines completely different things together.
A second option would be the construction of infrastructure for the vitalization of the basic economic market. Before explaining this alternative policy, I will suggest South Korea’s 5year-economy development plan from 1962 to 1996 (Wikipedia). This plan is the part of the first succeeding case of the Marshall plan in Asia. Past President of the Republic of Korea, Park planned this. This pan is basically built a highway load through South Korea’ Seoul to Pusan. Because of this highway, most of the firms in South Korea can transport their goods to everywhere within 1 day. Thus, the Republic of Korea, under the leadership of the government, selected and constructed the most important transportation facilities for the economy.
This method has been voted one of the biggest successes in the history of Korean economic development, as the plan has created additional jobs that will consume an abundance of labor. Based on these successful examples, the country can implement infrastructure plans to address poverty and create additional jobs to help relieve poverty among the poor. It can also be used to stimulate the economy by injecting labor-enabled resources into the economic market. It is too expensive and has to be burdensome as a country because it even has to borrow from abroad. However, this is a high-risk, high-return policy just like previous policy alternatives.
Moreover, if the budget is misaligned and implemented, it could be the first time that the nation is bankrupt. Once completed, however, it is easily maintained unless the nation is destroyed by war or disaster. It also has the effect of a very active market economy, resulting in more and more rapid economic growth and more jobs created. So, in my opinion, Republic of Chittagong accept this and wants to execute land reform as, like my idea, they need very good donator countries to support the Republic of Chittagong or need to find the Non-government organization that can be supporting them.
Next, the long-term change in policy costs a lot of opportunity costs, so I suggest a way to improve the workforce in a short period of time. Unlike previous policy alternatives, it shows a very fast and remarkable economic growth and the solution to poverty. To explain this a little easier, consider how much labor spectrum will be added to the economic market. Firstly, the Republic of Chittagong can be considered to have a woman in the Senate, it seems women’s rights are not suppressed like those of Arab countries. However, we do not know about the Republic of Chittagong’s religion. So, if their religion suppressed like Arab countries, this solution can be prevented because of the religion.
However, if the spectrum of the workforce is expanded until adult women rather than just let labor force as an adult male, and the economic activities of orphans such as part-time jobs are possible, the poverty problem for women and children can be solved and a large number of workers can be obtained at the same time. In addition, intervention in women’s economic markets enhances women’s rights. To see what it’s good for, it’s like giving wings to women who have enough talent but are restricted in their activities. That is why the economy will be replaced by skilled people and those without abilities will be demoted or culled. Which means we can do more competition for a better job. This means that they also have the net function to eliminate those who are powerless and corrupting the economy from a high position.
Therefore, if you want a single effect even if religious issues are prevented, this policy will be the best option. If religious and ethical problems arise, the government should prevent and manage them from the perspective of the government. However, in this point, the woman who is once suppressed, freely join the economic market, they could fall into feminism or something like that. That which can make higher divorce rate because of the difference in man and woman. So, when we are choosing this policy should have to solve male chauvinism and feminism.
Finally, I would like to propose a basic living security system that may not aggravate the situation, although the effects of improvement are small, and in some circumstances may be the basis for economic development. The reason for this policy is that no matter how developed the economy, it is difficult for people like homeless people who have been so deprived in society to recover from the development of the economy. So, what they need as a tool to enter the market economy is social security policy to bring them into society. This is a way to fill in aid and aid supplies for the recovery of the ultra-low-income bracket, like taxes or donations from the middle-income bracket.
However, in many developing countries, people above the middle class will not appreciate it. It is because of individualistic selfishness about why to help others while saving their own money. This is one of the fundamental drawbacks of capitalist history. That is why it is difficult to change such a problem unless it is a national disaster or a state bankruptcy situation. But if these people can get them back to the economic world, they’ve almost solved the nation’s poverty problem. That is why saving the people at the end of the poor from the brink is thought to be the easiest way for the government to solve poverty. Of course, some of these people don’t even have the will to revival to jump into society.
But I propose supporting a basic security system for them so that basic need (shelter, food, and cloth) can be solved for them in minimally fulfilled. That is because these people are also human. So, at this point, we also solve the moral issues to reducing poverty. However, for the resistance persons who do not want to pay tax or charity for them, we need to create another policy as like more bonus credits in next tax return or so. And also, differentiate between taxes by income is needed to prevent another poor.
In conclusion, it is ideal that executing all of the above four methods at the same time are implemented in order to ensure economic growth. However, most developing countries which country trying to reduce poverty take on or two policies to solve it. Because of the fiscal year of national budget limitation. So, in my opinion, this method is not realistic in this country which is thought to be a developing country. Therefore, one of the four methods above are to choose two methods, the second is to increase infrastructure and the third is to increase the workforce, which is considered the best ways to reducing poverty in this country. In particular, a third alternative may be linked to ethical and religious issues in the country and counterattacks may occur.
However, if the problem is resolved gradually from the government level, the problem of economic poverty could lead to historical developments such as the miracle of the new Han River and the miracle of the Rhine River like the aforementioned one case in South Korea example. And if the national budget remains after the implementation of these two policies, I will suggest that undertaking to implement the first and last policy is one of the best ways to raise the bottom line of the nation’s poverty problem and a way to increase the maximum level of the index for economic development. Which above paragraph means, in my opinion, there is a specific step to deal with reducing poverty and growing economies.
Population Growth and Economic Growth
Many developing countries are encouraging childbirth as the first step in economic development or economic growth for the increasing the population. This is because, as with the problem, the increase in population increases the opportunities nationally to the workforce to get a job. Marshall, who first published ‘Principles of Economics’ in 1890, became the founder of the Cambridge School and saw it as a part of his research on economics and human research.
And population growth after decade whose baby-boomers (take babies more than 2, because of the government encouraging childbirth) children have more opportunity to get a high return waged job in the economic system. The main reason for this is that the profits from their education above basic education are higher than the wages for normal work. Therefore, population growth, especially long-term population growth, is an opportunity cost that will elevate the nation’s economy.
In addition, uneducated workers who are eliminated from this education maximize marginal benefits as well as the economy, develops the economy. That’s because the workforce, as the times improve, creates parts that need it. For example, farming or logging sites where machines cannot enter are the jobs of the uneducated working class that require a representative labor force.
The other options to increase population is trading with other labor abundant countries. Because most of the countries which are suffered lack of population problem have lots of high waged jobs. Because of that educated workers transfer their jobs to the capital abundant country for their wage increasing. So, when this country opens their trade barrier, they can get more workers. As a result, they can get a more population through the workers and get more chance to achieve their aiming growth rate in their economic system.
A good example of comparing population growth to economic growth is Korea and France. In South Korea, which saw a large increase in the number of young workers due to the rapidly increasing population of the baby boom generation in the late 19th century, suffered an aging society due to the low birth rate policy in the mid-20s, and is still in a difficult situation due to that effect. So, the rapid aging of the population due to the severe low birth rate has raised issues such as the support of the elderly, the collapse of the provincial region, the depletion of the national pension and the lack of labor force.
On the other hand, France actively implemented the birth policy by enacting the Family Act after experiencing a low birth rate and an aged society in the early 20th century. So, France is the only developed country to have a birth rate of 2.0 and is now a role model for population policy in many countries, which is suffering from low birth rates.
However, there is not only positive effects on economic growth with population growth. This can be made lack of jobs and infinite competition. Thomas Robert Malthus said that “population growth and income stagnation that he described. The change that had sprung Britain from the Malthusian trap.” (Bowles, 2017)
Above two population growing methods are the significant variables for growth in the economic system. The reason why I conclude like that can be explained in simply. That is because of that there is increasing in population in the country they are going to doing economic activities such as supplying and demanding. Than the currency will be cycled market by market, person to person. It leads more improve the economic status of this country. That is why I thought that population growth proportional to economic growth.
Work cited
- Bowles, S., Carlin, W., & Stevens, M. (2017). TECHNOLOGY, POPULATION, AND GROWTH. In The economy (1st ed.). Oxford University Press. Web. 2018 Dec, 10.
- https://en.wikipedia.org/wiki/Gyeongbu_Expressway
- https://core-econ.org/the-economy/book/text/02.html
