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Jaime Mogollón Michilot

Economic Student,

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How we can reduce poverty and inequality in developing countries?

I'm from Peru. A developing country. We are having a good perfomance in our economy, but we have to face a non resolved problem. One to 3 peruvians live on poverty conditions (see the link for wikipedia information bit.ly/17qs4Rw) .
How we can face this problem?

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  • Oct 26 2013: The capitalist competition enables winners to win and losers to starve. We need to modify the economic mode so that we all win in synergy. To achieve this we need to retain economic competition among companies while democratising the distribution to reflect our human desire to help. No one wants to be responsible for starving children or rendering human life miserable and opportunity free.
    The new situation can emerge from social business, charities and ethical consumers displaying their positive visible reputations online.
    Social business and charities can set up systems enabling ethical consumers and donors to display and build their reputations online on outgoing email and social media. Other people will join in the scheme not wanting to have a poor reputation among their peer groups.
    This will lead to a growth of the not for profit charitable business sector providing more produce - the sector growing in economic power and influence.
    Ethical producers / companies shall have lists of charitable causes which they wish to donate their profits to and ethical consumers can indicate to which causes they wish their portion of profit generated directed at.
    It is envisaged that as such a scenario develops the charitable unowned sector shall grow at the expense of capitalism.
    There may be a talent exodus away from capitalist producers towards the ethical sector. In addition through lifetime lagacies and wills company shares and wealth may transfer across to the newl sector.
    Ethical producers shall direct charitable donation towards the causes desired by ethical consumers. Ethical producers shall strive for sustainable production as desired by the consumers. Large inefficient ethical organisations would lose consumer support to newer growing organisations.
    The growing sector would encourage consumers to consume sustainably and a culyure of caring for one another may emerge. The world can move onto a sustainable footing within a fair and free ideology www.goviralbaby.com
    • Oct 27 2013: Despite what you make think.. everybody benefits from capitalism when it is balanced with a legitimized law system. Read my comment below.. Its the corruption between business and soveriegn political governments that create much inequality in a lot of developing countries.. India and South Korea are great models for developing countries to emulate.. before legitimate business can manifest there needs to be a legitimate law system that protects individuals against corruption and secures there personal liberties.. Watch the TED talk "7 Killer Apps"
      • Oct 27 2013: I agree that we have benefitted from capitalism. Social democracies in the west have raised living standards for all - however its the unending growth that capitalism drives on which is causing harm. We cannot all consume like a succesfull westerner, there are not enough resources to go around and our environment suffers. When does the growth stop? Its my view that the next evolution of capitalism will see responsible consumers insisting their demands are met for a sustainable environment for their children and future generations. There shall be demand for fair opportunities and an end to extreme poverty. The ethical demand shall be met with ethical supply.
        Ethical demand can greatly be encouraged when a system of reputation is introduced. On this TED system we build reputations which are visible and we behave responsibly within the system. On ebay visible reputations are built by buyers and sellers and loh and behold pretty much everyone is honest. Its my view that ethical suppliers, social business, charities can create online reputation systems which consumers can sign up to and build as they ethically behave. Others will join in not wanting to be left without reputation among their peers. Social business can then expand and be vibrant alongside and competing with traditional capitalism. I envisage a scenario that through lifetime legacies, wills, corporate ownership can be transferred to the unowned charitable sector. Can we have a world in which the corporations strive to make the world a better place as the primary objective? That after all is our true demand.
        I have a lengthy essay on www.goviralbaby.com if this sort of idea interests.

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