The term rich and poor is paramount in the relative sense. Among the Irish peasants, they maintained on the verge of starvation by the wrung among from them to maintain the luxury of the absentee landlord of Paris. As such, the wealthy are those that have enough, or more than enough, wealth in gratifying all reasonable wants and by the poor, those who have not. As such, being poor or wealthy are, nonetheless, qualitative different experiences from being better or worse along a continuum. Arguably, both involve social exclusion from the societal norms. Additionally, neither can exist without the other but are rather better presented as very divergent.
Wealth can be dealt with from divergent perspectives that include; individual wealth, nation wealth, social wealth and cosmopolitan wealth. Personal wealth amounts to the wealth amassed by individual as well as personal qualities such as skills and intelligence. Tentatively, social wealth refers to the abject or materials owned by a society. On the other hand, cosmopolitan wealth refers to the wealth of various nations.
Wealth is imperative in all sectors of the economy, for any given country to nurture economically it has to be endowed with a lot of wealth. The developed countries do everything within their power to affirm the acquisition on resources from the developing countries. Arguably it assumes to be poor in the case when a state/country cannot control the resources within their reach. The United Nation defines wealth as monetary measures, which comprises of, human physical assets, as well as, its natural resources.
Human capital implies the populations educated and skills which country or a region has. This asserts to be the most valuable resource for any institution or a country. Tentatively, a country with high population of skilled and educated personnel projects to be wealthier.
Poverty, is a state of lack; it is a condition where one lacks material possession. A poor person may lack basic needs like food, shelter, and clothing and even better health care. From the above definition, it is clear that poverty is about the lack of resources and being unable to support oneself in various activities.
Evidently, in South Africa for instance, due the reliance on adults for the provision of the basic human needs, poverty centers more on the youth and adolescents. For instance in Whiteford and Van Seventer approximated 67% of children in the age groups 0-5 years, as well as 6-15 year, were living in households that erned less than the minimum Living Level (Whiteford, 2002). Consequently, Woorlard analysis based on the 1999 October Household Survey, presented that 10 million children are poor (Woolard, 2002).
Tentatively, poverty in South Africa has a strong gender dimension. As such, the poverty rates among the females tend to be higher in comparison to their male counterparts; therefore, the female are poorer. The Human Development Report of 2003 showed about 50.9% was females. Arguably, a household headed by a resident male has a 28% probability of being poor, whereas a household having de jure female head has a 48% chance of being poor. On the other hand, a household with a de Facto female head has a 53 % chance of being poor.
Additionally, there exist a linkage between education levels and the standard of living in South Africa. Woolard, asserts that 58% of the adults that lack education experience were poor; 53% of adults having less than seven years in experience, in education, were poor ; 15% adults that completed secondary school are poor and only 5% of adults with tertiary education were poor (Woolard, 2002).
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In the last decade, the center has exclusively been on the half of the inequality equation that ends the extreme poverty. Extreme wealth and extreme poverty that contribute to it seen for the growth that helps boost the poor. As such, there exists great progress in the fight against extreme poverty. Oxfam asserts that reducing inequality is an essential part of fighting poverty, as well as, securing a sustainable future for humankind. As such, in a finite world with resources, poverty reduction would be realized by the reduction of inequality (Milanovic, 2012).
In the words of the adage, ‘money equals power’ thus more powerful societies are a representation of the threat that is meaningful to democracy. As such, power can be exercised legally, with hundreds spent each year in numerous countries on politicians lobbying. Financial liberalization led to massive power of the financial industry that lead to further liberalization. As such, capture of politics by the elites is prevalent in the developing countries that result to policies that benefit the richest few and not the majority poor.
In most cases, poor people lack capital resources and income. They can also lack human capital in that they have poor education and lack of good medical care. Tentatively, poverty is a way of thinking; where individuals tend to think of what they do not have in place of what they have. A person is what he thinks he is if he he/she thinks with a negative perception like poverty thus an individual becomes poor.
On the other hand, waste, on the other hand, implies that not only useless consumption –extravagance but dissipation, can also mean destruction or death. Contrastingly, waste refers to loss in value of certain objects/materials. Want conversely divides into two: conversely, it means desire or yearning for something; on the other hand it means poverty, need or lack. The two words form the garbage and consumer culture. The chosen topics intend to reveal the social and cultural, household trash. Busch asserts “the throwaway ethics in America” provides wealth information and valuable resources especially on the bottle and paper products. Change in technology offers an angle on the adoption of new material and methods as it has led to some disposed material.
In the case that innovative technology incorporates in production, it results the disposition of the old technology. The unused material as a result of the innovative technology becomes a waste which might be essential in other production sectors.
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Trash is as an issue that regards to the standard working of the household as well as the economy in general. The economic position is comprehensible once the number of people, the standard of living, and the growth of the market economy tabled. Innovative products, as well as services, rely on continues disposal of old materials. Disposal means production distribution, purchase and use. This process is as a result of the want as a result of an augment in population and the desire to change the standard of living of the people. Waste will result from the process which will be a product; as a consequence of people’s discontinued usage of certain products and prefer others instead.
Country or individual who are in the pool of poverty may not able to take care of a valuable resource hence disposing them to the well up countries and individuals. The developing countries known for selling their mineral resources to developed countries at a throw away price. These are resources which they could have used to develop the economy, however, due to poverty these important resources end up the hands of the rich countries In the past household did not have loads of waste, in fact, everything was equally significant. The modern urban cities have changed nowadays people prefer to use things in only one activity; this is a waste of resources that could be useful for the development of an individual or the country in general.