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September 12, 2019

What if there is no poverty?

what if there is no poverty?
What if there is no poverty?
About 2.5 billion people in the world live in extreme poverty, mainly in regions such as Africa, South America, and Central Asia.

Nearly 10% of the world's population. That's nearly one billion people living below the World Bank's $ 1.90 per day poverty line.

And nearly half of the world's population (nearly 4 billion people) live on a family income of less than $ 2.50 a day.

Extremely poor people live without support on the margins of society, monitoring economic growth and prosperity. They are rejected by the world economy. They live abundant lives in scarcity.

What would happen if there were no zero poverty in the world? And how much would it cost other richer countries and regions?

First of all, people start to eat. They would begin to consume products that they could not afford while living in poverty. People could now afford to buy lactose products, cereals, and meat for which there is already strong demand. This would rapidly increase the demand for the previously mentioned products and for all food products for easy import. In this case, the price of these products would start to increase rapidly.

Second, humans who had just been lifted out of poverty would now start using electronic devices, which consume electricity. Humans would start using their own cars and could now use more resources than in the past. For example, we can look at what would happen if there were no poverty in the Central Asian region. This region has a border with Russia. Russia is one of the largest exporters of resources, if not the largest in the world. For Russia, this would mean increased demand for their resources and higher demand, higher prices. The main victims of these non-poor regions would be Europe, especially Eastern Europe, Central, and Southern Europe, as well as Finland and the post-Soviet countries, which depend on Russian resources. Prices for them would increase rapidly. If we look at the global scale, more than 2 billion people are now able to own a car and use it on a daily basis.

The price of oil is now expected to skyrocket because of demand. Air pollution would also be a bigger problem.

Finally, people who have just emerged from poverty would now have the opportunity to start their own business and perhaps create something innovative. The new company would now involve more competition for other companies. For example, if these countries were now starting to produce electronics, it would mean a drop in electronics prices, which means that people will now use more electronics. This could have a negative impact on the economy of some nations. This new production in these countries could also mean more waste pollution.

In conclusion, after considering this scenario, I believe that for many countries it is not cost-effective to eliminate poverty, as this can have a negative impact on their economic stability. What impact will you have if there is zero poverty in the world?

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