Microfinance & Education

In: Business and Management

Submitted By jolabi
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Microfinance & Education (A Research Study)

Poverty, and the alleviation thereof, has been a discussion that has spanned centuries, specifically in the Unites States of America (USA). Now while those discussions have taken shape in various itineration’s (ie: political platforms, debates on entitlement structure, or simply encouraging individuals to help those less fortunate), everyone seems to agree that its ultimate remediation is beneficial to society; however, in terms of the actual path of forward, we open up a gambit of opinions and approaches. While the disagreement is real, we can take solace in the fact that there appears to be significant consensus on the actuals drivers that play a significant role in empowering the poor, being Capital, Knowledge, and Opportunity.
In discussing poverty, it’s important to note that, contrary to common belief, poverty is an epidemic not specifically reserved for developing nations, and continues to be a major problem in the US. The below graph, derived from the US Census Bureau highlights the level of poverty, per race within the US in 2011. Some interesting observations include the incredibly high poverty rates among African American and Hispanics, and the obvious intra-race poverty disparity.

Regardless of ones opinion on poverty and the mechanism to alleviate it, it’s worth noting that poverty possesses a heavy cost not only on its victims, but on society as a whole. There is significant statistical correlation between high poverty rates and elevated crime, higher utilization of government safety net programs, and poorer personal health (resulting in unexpected hospitalization.) These costs are ultimately borne by tax payers through higher taxes. Additionally, it’s worth nothing that the victims of poverty typically do not individually have the tools to escape their circumstance, and without help in addressing the…...

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