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Greetings, everyone! I hope you're all in good health and high spirits. Today, I'm participating in this contest organized by Sir @irawandedy in this community. I believe this is a fantastic initiative as it addresses social issues. We were given the liberty to choose any topic within the main theme of "Social Innovation", so I've chosen "Poverty Reduction". Let's dive right in without further delay.

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Poverty

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Poverty is a condition where an individual lacks the financial means to meet even their basic needs, or in other words, they struggle to maintain a standard of living. Here, basic needs include food, clothes, shelter, and health facilities. Some people also consider water as a basic need. I haven’t mentioned it as it is usually freely available in many areas, but it's undeniable that there are regions where clean drinking water isn't easily accessible and has to be purchased.

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^{Image by brgfx on Freepik}

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When the government sets a minimum amount of money that people need to buy the things they need, anyone who earns less than that is considered poor. This is one kind of poverty, called absolute poverty. It means that people have a hard time getting enough food, clothes, shelter, and other basic things to live. This level of poverty doesn't necessarily correlate with economic growth, meaning even if a country's economy is growing, those suffering from absolute poverty may remain poor.

But poverty is not always the same. Sometimes, people are poor compared to others around them. This is called relative poverty. It happens when people make only half as much money as the average family in their country. They can afford the basic things they need, but they can’t buy anything extra. Relative poverty is linked with economic growth. If the economy of a country improves, the financial condition of those stuck in relative poverty also improves.

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Causes of Poverty

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It's important to note that poverty is a complex issue and there may not be one single "major" reason for it. Instead, it's often a combination of various factors that contribute to poverty. According to my understanding, some common causes of poverty are:

• Low level of education
• Population pressure
• Lack of skilled entrepreneurs
• Slow economic growth
• Inflation
• Unemployment

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Suggestions for Poverty Reduction

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Low level of education

In situations of low education levels, one effective approach could be to promote education. Education could be made free or inexpensive, thus allowing more people to benefit from it. Educational institutions could be improved to provide better education to children. The curriculum could be enhanced to equip children with necessary skills and knowledge for succeeding in life. Campaigns could be initiated to raise awareness about the importance of education and motivate people to pursue it.

Moreover, the number of teachers could be increased to ensure every child receives a quality education. Training for teachers could be improved to enable them to provide modern, relevant education. Teachers could be offered competitive salaries to motivate them to excel in their profession and provide better education to children.

Population pressure

To alleviate population pressure, promoting family planning could be an effective strategy. Family planning services could be improved to provide better information. Campaigns could be launched to educate people about the importance of family planning and guide them properly. Additionally, education about family planning can be provided so that people can understand its benefits and adopt it. Accurate information about family planning can help people avoid misconceptions.

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Lack of skilled entrepreneurs

To tackle the lack of skilled entrepreneurs, one approach could be to promote entrepreneurial education. People should be encouraged to step out of the job-seeking mindset because if everyone is only seeking government jobs, it will ultimately lead to a shortage of skilled entrepreneurs, harming the economy.

People could be educated about ecommerce to provide necessary skills and knowledge for succeeding in business. Campaigns can be initiated to highlight the importance of business and inspire people to start their own. Furthermore, facilities could be provided to start businesses. Affordable loans could be offered so they can start their own business, as the earning potential in business is typically much higher than in government jobs.

Slow economic growth

To accelerate economic growth, every possible step should be taken to promote economic progress. Better policies should be developed for economic growth. The tax system should be improved to make it easier for people to pay taxes, thus increasing government revenue.

In this era, it is also crucial to eliminate corruption, especially in tax-related matters. Often, poor people are the ones paying taxes while big companies evade them due to their political connections. Such tax-related corruption should be taken seriously, and measures should be implemented to curb it.

Inflation

To reduce inflation, controlling price levels could be an effective method. Appropriate measures should be taken to control inflation. Policies should be developed to control inflation. The prices of necessities should be controlled to ease the burden of inflation on the public.

Some people form mafias and hoard food items like sugar and flour, and then sell them at inflated prices when there is a shortage. Such elements should be curbed, and obstacles in the supply of necessities should be removed to ensure the availability of essential items to the public.

Unemployment

One significant cause of unemployment is a lack of skills. Our universities provide degrees, but those degrees often don't guarantee jobs because the graduates lack proper skills. This is largely due to our curriculum not being advanced. Students often cram and use traditional ways to earn their degrees but face significant difficulties in finding jobs later.

The government should promote technical education, especially focusing on the IT sector, because the world is rapidly advancing. To catch up with the developed world, we need to change our education system and make it more modern.

To foster a skill-based education system, the government should design and execute suitable policies. This would give the government the ability to generate employment options for those who are looking for work and aid those who wish to launch their own businesses.

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I trust that you found the information in my article to be valuable. 😊

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^{I would like to invite @lhorgic, @cruzamilcar63, @patjewell, @chasad75, and @josevas217 to join this contest through this link, if they have not already taken part in it.}

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^{Author: @waqarahmadshah | Date: 31-May-2023 | Achievement 1}