- Each generation of the wealth has managed to stay wealthy, while each generation of the poor has stayed poor. The main reason why the rich get richer and the poor stay poor is a growing income inequality and wealth disparities. Without income, one cannot build wealth, and without any wealth, one cannot create opportunities. However, because only the wealthy had the ability to spread their wealth beyond their homes, they have been able to recover the majority of their wealth. In fact, wealth are the one creates the opportunities for others. But the problem is that not all people are given with an equal opportunities. The same opportunities that exist for the children of wealth families to stay wealthy are nonexistent in the poor rural and urban centers of the country. Among many other factors, education is what I truly believe as a starting point of a poverty. We need solutions in order to address the lack of opportunity. This cannot be simply done by the government or the private sector alone, rather it needs a joint effort. Otherwise, the cycle will eventually repeat again and again.
In your first sentence you say "each generation of poor stay poor" but what about South Korea!?!? Isn't that an example of poor becoming rich?
ReplyDeleteYes, I believe that South korea is a prime example that shows poor country became one of the richest country. But I think that's an extraordinary case. All the citizens desired to develop economy of Korea and that led our president Park, ChungHee to rapidly modernize Korea. Unlike other poor countries, South Korea was able to develop rapidly because not only the government, but also people voluntarily attributed and participated to develop the nation.
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