Poverty is a state of economic and social inadequacies that often results from poor living conditions and low purchasing power. There are many causes of poverty, especially in developing countries. A nation can become poor due to economic, political and social factors. Unfavorable economic climate such as increased unemployment among the young population, a high number of the population depending on the working class and weak monetary systems contribute to high levels of poverty in a country. Additionally, poor agricultural methods that do not embrace modern technology result into less than average annual crop production that cannot sustain a country’s population leading to food insecurity and by extension heightening poverty levels.
The increase in the young and unproductive population that end up depending on the few working class population weigh down the nation’s development programs. This comes as a result of social and conflicts that hinder family planning methods in developing countries especially in Africa and Asia. Also, cultural practices that demean girl child education and prefer early marriages contribute to the vicious cycle of poverty in developing nations. Also, the majority of the population in developing countries fear taking financial risks such as investing is a business or getting loans that can help them earn a living or invest and create job opportunities.
Political systems in developing countries also contribute to increasing poverty level. Due to faulty parliamentary and judicial systems, a lot of funds are embezzled, corruption levels are high, borrowing of the international loan and endless civil wars that destabilize the economy by scaring off investors. At the end, the citizens of the developing countries repay the loans through heavy taxation that also contributes to poverty yet the infrastructure remains underdeveloped. Global poverty levels are increased due to poor governing and economic systems of some developing countries. A lot of financial aid is channeled to the developing countries, global markets collapse at the expense of countries that take loans are unable to repay.