The Poverty Trap
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- Опубліковано 3 жов 2024
- Why do the poor stay poor? How do people break the poverty cycle? #IHub #InternationalHub
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Funny how this relates to the intro of the movie Up. They keep their extra money in a jar so that one day they may travel but each time it's nearly full, there's a huge setback that happens that force them to empty the jar. And by the end of the introduction, their entire life has passed by and they never were able to travel.
I moved out of a developing country into a developed one. However, for the first 6 years I was stuck in a poverty trap. What I learned from my 7th year onward made me realise that being frugal and investing the extra money wisely would make me slightly richer than most people as long as I have a stable job, even if this was back in the developing country. Now I have "friends" contacting me out of the blue, expecting me to hand out free money in exchange for their company. I'd rather live alone in a cabin somewhere not worrying about my next meal than being around the wrong type of people.
So did you have a steady job for those 7 years? What did you do to invest the money? Would you say that your escape from the poverty trap was just a slow gradual accumulation of wealth from working over a period of years?
Not only does the poverty trap exist for financial reasons, but mental health plays a defining role on if you can get out even with external forces
And of course, with rare exceptions, poverty leads to degraded physical and mental health which, in turn, makes it harder to escape poverty. This was a factor in my family (decades before I was born). When my father had been a kid in the 1920's, his family were poor immigrants, but they were getting by, until my father's father suffered a crippling injury on the job that prevented him from working. This was in the era that Republicans call the "good old days" when there were littler or no government health and welfare programs. As a result, my father had to start working full time as a teenager (while completing high school) and a college education was out of the question. It took him decades of hard work to climb out of poverty to a lower-middle-class life. In late middle-age he had three heart-attacks, the last of which killed him -- possible due to the stress of his life. TAX THE RICH AND HELP THE POOR.
We live in a very sick hierarchy.
The poverty trap does not just apply to underdeveloped nations. It is a major factor of why even in America the poor stay poor. No matter how wise your financial decisions, if your income only rises to 95 - 105% of survival costs, you cannot build the savings to overcome a setback.
that sucks
I agree. Because civilization is a Team Effort.
America has this problem, because Egoism is more prominent here.
I mean: Why fight over a Watering Hole?
When you can get some Engineers together. And build and Aquaduct.
For the whole Community.
Exactly. If you’re putting your earnings towards bills and survival, you can’t save and certainly not invest.
This x 10^6. Adam, please make your own vid. I was expecting this vid owner to make this obvious conclusion. Oh well...
the poor in America only stays poor until someone in that family has the will to break the poverty line
Poverty trap is when you don't have inherited wealth from parents or relatives.
Amen, I think lots of people who get kicked out of their family home are thrown into the poverty trap.
Words can't explain how much your videos help me, Thankyou!
Work all day, sleep all night and don't have time to think. Generational poverty ends here
In the US, there is also a benefits trap or benefits cliff. If you earn very little, you qualify for various types of aid, but as you earn more, these are all taken away. If a single person earns $12,000 a year, they can get free health insurance, food assistance, housing assistance, help with heating costs (LIHEAP), etc. If they work hard and begin earning $20,000 a year, all those benefits go away, and they will likely find themselves no better off (or maybe worse off) than they were earning $12,000.
this is exactly my situation. i wish that there was a solution
@@sandermez3856 don't do it
There is, have you ever worked 80+ hours a week? Aside from going to college and studying the right fields, you'll need the money to pay for your tuition.
The fight for universal basic income is a fight to eradicate poverty.
Drop out
there is a solution, you just don’t have the will to break the poverty line
This is also a problem in the US. I hate that people give food or coupons to the poor here instead of money and permenant housing and leave them alone. There's also some individuals who entrap people trying to get out of homelessness by "helping" them with food and resources, and then guilt and shame them to do whatever service they want. I hate that, it steals that person's dignity and keeps them in a bind.😡
As a student of economics, I really like your videos. Keep it going!
I'm from India and my family is in this poverty trap from many years and covid pandemic things got even worse.
INDIA has huge rates of social and economic inequality made worse by the current government
@@karimtabrizi376 Nope , Current govt has done more for the poor than than any other govt . A lot of people got out of poverty . For ex- Many of my family member fled from east pakistan with nothing . Today all of us having a good life .
@@karimtabrizi376 right
You mentioned about "money trap" - where one is unable to earn enough for either basic needs (e.g. food, shelter), or for unexpected events like disease / job loss / repairs, which do happen from time to time for everyone. What is even worse when it comes to poverty is "mind trap": loss of self-esteem or feeling that one's actions do matter, addictions and aggression as means of dealing with that, and (in countries with good welfare systems) avoiding employment because as soon as a poor person gets work (usually not paid well), they lose some or all of the welfare benefits, so it pays off more to be a lifetime welfare system client.
I like it, but the poverty trap argument is so obvious when applied to underdeveloped nations. Would have been more interesting to hear how the homeless guy in America would fare.
not well.
AMERICANS lives on cars, on developing countries, they have no cars. that's it.
I agree. That's why I clicked on the video, too.
@@sparcx86channel42 That's NOT it. There are many excellent economics treatises on poverty in the US and why it's counterproductive to compare America's poor with developing nations' poor.
@@sparcx86channel42 Every developing country in the world has cars.
Just described my life.
Most people in this world are in this trap. Even in places like America, Canada, and England. It will only continue to stay that way.
Without the poor we couldnt have the rich and poorness is a necessity to balance of this primal world
No
I may have read the comment wrong the first time my bad I agree with what your saying
@@scottwilliams645 no he's actually right our system can't work without most people being poor. It was designed that way and was never intended to help everyone
@@elias8294 oh wait it looks like a read it wrong my bad
Are you fuckin' kidding me?
It is harder to make it when you grow up poor, but it can be done, it depends on what you are willing to sacrifice and how hard you are willing to work.
No one said it's impossible. Just that it shouldn't be so hard.
Most poor people work hard. Working hard isn't enough.
Nah bro, hard work alone can't make you wealthy. True wealth is within you already. 😊
Not necessarily, see latinamerica for example. México is one of the countries that works the most. The avarage mexican works harder and more hours than the average American, but they earn almost 10 times less.
Very useful for my studies! Thanks for making it a very detailed explanation!
Social Class is based on what Resources and Conveniences you have access to.
(Internet, Showers, AC, Running water, Take-out, Health Care, Transportation, etc.)
When you don't have adequate income for these things: The only alternative is to actually own something.
But that also costs money. So, that's how you get this cycle.
(Unless you are able to get it via Community Resources. For Low-Income people, it makes their life a whole lot easier. And it helps in climbing up the Social Class level.)
When you live in a culture that's more "Every Man for Himself":
You get a lot higher of a Poverty Rate.
And more Long-term problems.
THIS IS GREAT!!!! thanks for your videos omg luv u
Why doesn’t anyone tell you that after college doesn’t guarantee a good job
Didn't you hear the guy say "potentially"?
Because they've never been in that situation.
They just assume that it's the same for everyone...
It's called the Just World fallacy.
this is only true if you are not on worthless coleges like social justice crap
Exactly!! Only the best and the people who have references will help get there . But then many millionaires were dirt poor.
Exactly.
Sunday Twenty-First of June Two Thousand And Twenty.
08.59ante meridiemBST.
"Dear Sir or Dear Madam. Good-morning, how are you? I trust you are well."
"I, first heard of the Poverty Trap, at Primary School. Never, really understood it, untill now. Anything, connected with Poverty, scares me. But thank you ever so much, for a well thought out video."
Yours With The Greatest Respect.
Mr Francesca Al Kray.
Postscript: Thank you.
82.
Why do you type like that
Accurate and informative. Shows the International poverty trap.
Would love to see a description of the very real situation of Poverty Traps in first-world nations. America is a great example because we have the world's most-poor living along side the wealthy global elite.
Being POOR is EXPENSIVE.
I am totally traped in this situation i have no idea to get out if it
I am poor and trying to get out of there learning how to ge out of poverty and been learning why some people are poor and others are not living in a Country where there is a lot of money.
I dont know why you keep talking about less developed countries. This trap exists here in America, in almost every city and town.
Thanks for the informative video
there's literally a chinese word for Poverty Trap called 贫困，meaning when one is poor, one is trap or confine to be free.
The audio fluctuates very much from high to low volume throughout the video, and makes it distracting to listen to. However the subtitles are auto-generated in Dutch, thus the subtitles don't make any sense either. I hope you're able to at least re-generate the subtitles in English to make this more accessible! Thank you.
This is why I believe in UBI. If people could get out of just survival mode then they could begin to truly contribute value to their own personal lives, families, communities, countries, and ultimately the world.
1st How would that work with physical cash 2nd where would the money come from 3rd what other effects besides positive does it have 4th how would tax work
Many people in the first world are experiencing this right now
In new Zealand we call it living week to week
The example of the woman with the chickens is a great example. The poverty trap is not having enough money to save for emergencies and neither enough to make any investment.
So it becomes a cycle.
I reject the notion that poverty is a "trap" that people can't get out of, for several reasons. First is the fact that the majority of people in the poverty income level don't stay there for long. The poor are simply people at a certain point in their lives. One could be below the poverty line because she has graduated from college and got her first job, and is living on her own for the first time. One could be "poor" because he's trying to start a business, or because he just got divorced. Most of those who live under the poverty line go on to get better jobs, or work two jobs, and make more money as time goes by. They move out of that category. Of course, a minority of people stay, because they don't do anything different. If my income isn't keeping up with inflation, I need to do something to overcome that trend, rather than staying in the same situation and feeling trapped. Three-quarters of American workers who were in the bottom 20 percent in income in 1975 were also in the top 40 percent at some point over the next 16 years. As we get older, we gain experience and skills. We get married and get promoted.
The second reason I reject this characterization that there's nothing the poor can do about being poor (which is what we're saying when we say poverty is a "trap") is that I myself was poor. For much of my childhood into my 20s, I was poor. But I was ambitious. I worked 3 jobs at one point; a full-time job as an administrative assistant, a waitress a couple of nights a week, and a retail clerk on weekends. I cut expenses, saved my money, and owned a house by the time I was 35. Many of the people I grew up with -- who lived in the same foster home, went to the same inner-city schools, and lived in the same low-rent neighborhoods as me -- have pulled themselves into a middle-class, upper middle-class, or upper-class lifestyle. People who say that it's impossible to save money are not committed to saving money. It is possible. Millions of people at every income level do it successfully every year.
There will always be people who go through mental gymnastics to excuse their own laziness, lack of vision, or lack of financial self-control. They will say they can't get a break, that the world is against them, that inflation is keeping them poor, or whatever. These are the same people who eat out at restaurants more than three times a week, have a late-model cell phone, do not share their living space with any other families, spend hours a day on social media or video games, and have enough disposable income to have a pet.
Don't like being poor? Do something about it. Nothing changes if nothing changes. And when we don't change, that's a trap of our own creation.
I feel like a solution to poverty trap is also being an ethical opportunist not necessarily working hard but providing creative solutions to problems people are willing to pay for
Best detailed analysis!!!. I wish everyone reads this Lord !!
I suffer poverty now
I have a baby too I can’t take it anymore
How's the baby
2:8 good shot tho
Credit is slavery. Now go to work or lose all you trappings.
True
Poverty will end when Capitalism isn't a thing. A person shouldn't own more than somebody else because that person was born with money. A person should be rewarded for being kind and compassionate. Education and housing are free. The big houses and the luxuries go to the most compassionate and kind people. Money has no merit to it. A person shouldn't be rewarded with heaps of money just because that person came up with an idea that people like. People a literally giving that person power, with absolutely not checking the person's merit first. Capitalism needs to end for humans to be able to share. The world is based on greed. One count has an abundance of food, and that country has entertainment around the abundance of food, while other countries have little food. Through Intelligent Quantum Computing, each country will have its own Super Intelligence, monitory and share resources with other Countries' Super Intelligent Computers. Humans cannot be trusted with any kind of power. The attraction to a person that has plentiful of material, must end. Greed is to appear attractive.
Grace in Tanzania 🇹🇿 will never be in debt running into hundreds of thousands . There’s no poverty in Africa it’s all about mismanagement and bad governance.
2:08 good shot tho
Why did he have to use an African country as an example for poverty??... There are poor people in the europe and other developed parts of the world
jesus christ shut up
@@MichaelBrown-jb9mv hes right tough
When YT try to get on the sympathy train
@@MichaelBrown-jb9mv you should shut up..
@@basicsmoothbrain7624 what sympathy train??...
Poverty: They trap the opening voice.
Many things are cheaper being rich than being poor that’s why
@locktheseratchethoesup for example buying a house
Poor Grace
ugh hate poverty
These captions 😂😂
Why korea managed to get out of it
benefits to work. you will receive benefits for life then pay 70 per cent income tax when you get a job until you are better off in the standard current system then you swap to it
terrible idea
🐑📊What is lamb replacement?
I believe that there’s only two things that can keep in poverty. Having children before the age of 25, and not taking care of your physical and mental health. These two things will cripple your ability to build any wealth.
What about a disabled parent? Or student loan debt? Or living in a town with few jobs? There are a lot of things that can keep you in poverty.
Are you serious? Those are the ONLY two things that keep people in poverty?
I am well into my 20s and still poor. I guess I didn't get the life scripts memo.
Imagine being betrayed by a woman and being from the lower middle class ? Having Child support and being laid off from your job while out for a operation ! , It doesn't take that much to put you in the ghetto and eventually lead you to become homeless while waiting for public housing a very long time ! . The states housing Authorities have all kinds of traps set up to deny men ! . I will wait until Judgement Day if that is what it takes to get an apartment from The Tennessee housing authority !
it's a tarp!
11S AKAN STUDENTS WAGWAN
Wait, Grace has ... children??
I suppose a degree in Egyptian History is really going to get you somewhere Some people would/will be better off learning an honest trade, yep, one that gets your hands dirty!!
That's a trite argument that's been debunked by MANY economics scholars.
@@aiahzohar5636 elaborate on how it's a trite argument
@@getsmartquick Unfortunately, social media like UA-cam & Reddit isn't a place to debate. You waste time compiling citations to study after study that disproves commonly held beliefs, but no one has to read the studies. If someone really wanted to understand the evidence refuting the argument that graduates' financial precariousness results from them *studying the wrong disciplines* OR the argument that *if only people would pursue the trades instead of college and get their hands dirty they'd do well financially* they could just Google the evidence themselves. Both these simplistic arguments have already been debunked by multiple academic and government studies.
@@aiahzohar5636 I don't debate I have discussion so kindly elaborate why those things are trite and what's like your solution to this because I'm not blinded by belief I just want truth
Mark 10:29-31
[29]And Jesus answered and said, Verily I say unto you, There is no man that hath left house, or brethren, or sisters, or father, or mother, or wife, or children, or lands, for my sake, and the gospel's,
[30]But he shall receive an hundredfold now in this time, houses, and brethren, and sisters, and mothers, and children, and lands, with persecutions; and in the world to come eternal life.
[31]But many that are first shall be last; and the last first.
That’s why we need democratic socialism. Countries with this system have the happiest citizens in the world.
Simplest solution for poverty - skip university.
end capitalism todayyyy
Police
dumb people watch this video to make themselves feel better, smarter people watch videos on how to be successful
Ok mr 100iq
Ah, Tony. Yet here you are. :)
yet you’re here 💀
_Speech examples_
*_Filter on_*
Lowest IQ
IQ -50
_"dumb people watch this video to make themselves feel better, smarter people watch videos on how to be successful"_
What? That trap is just about every fing American.
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