Issues Contributing to the Slowing of Economic Development (Essay Sample)
Write a journal entry in response to Chapter 3 of Jeffrey D. Sachs: End of Poverty. "Why Some Countries Fail to Thrive."
- 250+ words.
- Questions to Answer
Sachs provides an analogy of a family in a least developed country and the hardships that it may face. According to Sachs, what are some challenges that this hypothetical family could face?
On page 56, Sachs says that the most common explanation for why countries fail to achieve economic growth often focuses on the faults of the poor. Why, according to Sachs, is the explanation much more complex than that common assertion (please provide some examples/analysis)?
A constant theme in the text is the proverbial “economic ladder.” Based on Sachs’ suggestions and your own observations, how can poor countries achieve a foothold on the economic ladder and begin to climb out of poverty?
Do you think that it is a government's responsibility to provide welfare assistance or should it be the responsibility of charities? Why?
Journal Entry: Economic Growth
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Journal Entry: Economic Growth
Sachs' hypothetical family may encounter many challenges, such as a decrease in maize production due to a decrease in soil fertility on their farm. Climate change, which results in drought and a lack of rain, can also contribute to malnutrition. When war breaks out, their operations are disrupted, and food production becomes an issue. If the family decides to have additional children, they will have more mouths to feed with the limited food supply, and they may risk hunger as a result. Finally, disease outbreaks might cause challenges to the family due to a lack of proper health care.
According to Sachs (2006), the economic system is highly complicated, and its failure can be caused by any number of variables, not only the poor. Poverty can result in economic failure. Poverty, on the other hand, is created by backward cultures that stifle growth and corrupt leadership; therefore, it cannot
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