Pros And Consequences Of Global Poverty

American entrepreneur and writer Adam Braun (2015) argues that “global poverty is a complex web of interlinked problems and there is no one ‘silver bullet’ that will solve global inequality.” Though the roots and consequences of this issue have long been the subject of academic research, its growing character has found no remedy from a large basket of interventions offered by the majority of economists, who do agree that a complex of measures should be proposed. (written by Nadya and Nastya) One of the approaches for both developed and developing countries is the progressive taxation system. For instance, economist Tony Addison (2014) suggests “a top rate of 65 percent rate on the top 1 percent of incomes”. The major reason why it might bring about a transformation is that it would make the post-tax income distribution less uneven. This system also would provide care for low-income groups through raising budget revenue to finance public expenditures, such as transfer payments, health and education spendings that would bolster equality, both economic and social. Addressing the challenge of income inequality, an emphasis should be simultaneously placed on the distribution of wages and capital income because, according to Ingrid Woolard et al. (2015), fiscal redistribution is unlikely to remedy the situation entirely. (written by Kira)

On a wider scale, hopes are put on the global trade, benefitting both importers and exporters - normally poorer countries. Thus, as