Promotion policies make it possible for people to break out of the poverty trap, to get out of poverty for good. Promotion policies like education, health care, microfinance and poor-area development, with complementary public information campaigns, are potentially life-changing interventions.
The country that cut poverty the most the last 30 years is China, and China is a testimony to the efficiency of promotional policies, argues Ravallion. Alleviating poverty the cheapest way possible? Despite widespread poverty in many countries, we have made impressive progress against extreme poverty.
However, it is not just a story about one country. Poverty is easier to deal with when the levels are not too high, the interventions needed are not too costly for the non-poor, hence they are more feasible. High poverty rates are a Catch Poverty impedes the overall growth process.
This makes it harder to finance social programmes and implement pro-poor reforms, even in democracies, says Ravallion. Redistribution would imply tax burdens on the non-poor which would not be accepted, says Ravallion.
However, we have also learnt that the right social policies can be an important complement to policies for promoting economic growth. Hence the creation of productive employment opportunities is essential for achieving poverty reduction and sustainable economic and social development. It is crucial to provide decent jobs that both secure income and empowerment for the poor, especially women and younger people.
Equity relates to a degree of equality in the living conditions of people, especially in terms of income and wealth, that society considers desirable. Reduction of inequalities is then justified by equity considerations. Millennium Declaration - Millennium Development Goal 1. MDG 1 aims at eradicating extreme poverty and hunger. A , achieve full and productive employment and decent work for all, including women and young people 1.
B , halve, between and , the proportion of people who suffer from hunger 1. As theme for the Decade, the GA established at the end of the following: "Eradicating poverty is an ethical, social, political and economic imperative of humankind. Copenhagen Declaration Social Summit. Being the largest gathering of world leaders at that time, this event represented a crucial milestone and pledged to make the conquest of poverty, the goal of full employment and the fostering of stable, safe and just societies overriding objectives of development.
Chapter 2 is entirely devoted to eradication of poverty with a particular attention to the strategies to be adopted to achieve concrete results in this matter, to improve access to productive resources and infrastructure, meet the basic human needs of all and to enhance social protection and reduce vulnerability. To ensure that the million people who remained in poverty at the end of MDGs period can escape requires investing in programs that aim at building effective states.
Otherwise, an end date for poverty will remain elusive. This article is published in collaboration with Project Syndicate. The views expressed in this article are those of the author alone and not the World Economic Forum. What was COP26? How can energy, cities and the natural world save the climate? Just some of the questions answered on World Economic Forum podcasts.
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