Is Business Best Equipped to Fight Global Poverty?

Today, the problem of the global poverty is one of the major global problems that affect a large part of the world population. The solution of the problem of global poverty is essential to prevent humanitarian and socioeconomic crises that inevitably occur in response to the growing poverty and disrupting the balance between the rich and the poor. The widening and disproportional gap between the rich and the poor often urges the latter to protest and undertake illegal and anti-social actions to change their life for better. The solution of the problem of global poverty is complex but business may be the best equipped to fight the global poverty at the moment.

To find the plausible solution to the problem of poverty, it is necessary to find its primary cause. The class divide between the rich and the poor, when the rich have all and the poor have nothing, is not the only cause and not the primary driver of the problem of poverty. The major problem of poverty is the lack of opportunities for the poor to earn for living and leading a decent life.  The poor cannot change their life for better because they have no decent job and their level of income is unacceptably low to make them capable to lead a decent life. The lack of education is another factor that deprives the poor of an opportunity to get a decent job and earn for living. Also there are such issues as scarce resources, historical traditions of class divide, and other issues that prevent the poor from changing their life for better.

In this regard, the government support or assistance of NGOs is not enough because they cannot resolve the problem of poverty because they cannot provide better job opportunities for all. However, many researchers (Polak & Warwick 145) believe that the government and philanthropy can resolve the problem of global poverty. In actuality, the poor cannot rely on the government support or philanthropy because it ends too fast to make the solution of the problem of poverty sustainable. For example, even now many governments just do not have fund to cover programs that fight the problem of poverty. If a new global economic crisis strikes, they will have even less resources to fund the fight against poverty in global terms.

Instead, business is the best solution so far because it opens fair opportunities for individuals to change their life for better through their proactive position and business ideas, which they can implement. In such a situation, the government and NGOs can just assist business to let the global poverty disappear through special training programs, tax credits, and other policies that can help businesses to employ the poor or that provide the poor with opportunities to launch their own businesses. Businesses do not need to sponsor the poor or offer them some benefits. Businesses just need to keep growing to resolve the problem of poverty. The government just has to let business growing and the problem of poverty will disappear steadily respectively to the growth of business activities and creation of new jobs. In addition, business can offer the opportunity to change their life for better by launching their own projects with the support of various financial institutions like banks offering loans to various business projects or mutual trusts.

Thus, business opens the way to the resolution of the problem of poverty because it offers the poor a tool with the help of which they can earn for living on their own without reliance on government of philanthropy.

Works Cited:

Polak, P. and M. Warwick. The Business Solution to Poverty. New York: Berrett-Koehler Publishers, 2013.

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[Accessed: September 29, 2020]

"The terms offer and acceptance." freeessays.club, 17 May 2016

[Accessed: September 29, 2020]

"The terms offer and acceptance." freeessays.club, 17 May 2016

[Accessed: September 29, 2020]

"The terms offer and acceptance." freeessays.club, 17 May 2016

[Accessed: September 29, 2020]

"The terms offer and acceptance." freeessays.club, 17 May 2016

[Accessed: September 29, 2020]