Is the Poverty of Poor Countries in Any Way Due to the Wealth of the Rich?

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Is the poverty of poor countries in any way due to the wealth of the rich? Up until the 19th century, the world had never experienced prolonged economic growth. Instead, their business cycle would rely on the harvest quality of each year. Nowadays, economic growth is due to several variables of which many economists such as Solow and Ramsey have used in models and theories to explain why some countries have grown more than others. The big question is why Britain followed by Europe and the US were the first to industrialise and take the first foot steps out of being impoverished nations and why countries such as India have taken longer to do so. What's more intriguing to know is was Britain to blame for third world countries such as India's trailing behind or did India's and other LEDC’s circumstances push Britain and the west to grow further. Is this down to social, economic, environmental or political reasons, is it due to a security versus development issue or is it just down to chance? In this essay I will explore whether poverty of underdeveloped countries (LEDCs) is due to or a cause of the wealth in more economically developed countries (MEDCs). Poverty is a term that can be split into two parts; relative and absolute. Relative poverty is where a person does not own or consume what the normal person will in the country. For example, if a family can't afford a television set in the UK they may be seen as in relative poverty. It is also income related so a family would be in relative poverty if they live on a certain percent lower than the average income (Palmer). Absolute poverty is the type which most would generally assume what poverty is. It means that a person does not own or consume enough basics to live such as food, shelter, water or clothing. Unlike relative poverty, absolute poverty is measured the same across all countries, for example, all people
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