Economics Paper on Poverty: Economic Globalization and Food Security

According to Andrew et al, half of the global populace live on less than a 2.50 USD each day (2015, p. 23). This number means over 3 billion people live on basic amenities. The Gross Domestic Product (GDP) of the 41 countries that are heavily in debt is less than the wealth of the 7 wealthiest people in the world (Andrew et al, 2015). The same research indicates that more than a billion individuals in the current 21st Century cannot read or append the signature of their names. Further, 1 in every 2 children lives in poverty across the world; without suitable lodging, no access to clean and health services and safe water resulting in over 29,000 child deaths per day (Andrew et al 2015). These statistics indicate that poverty and world hunger is a global concern and several policy actors have shared their approaches on how to eradicate it.

Some of the policies advanced to solve this issue are the United Nations’ goal of investing in agriculture and rural areas. The United Nations aims to reduce the world hunger by working with rural areas to produce more food for consumption and sale (In karnie & Biermann, 2018). Previously, the same body had the Millennium development goal (MDG) of eradicating life-threatening hunger and poverty. The three main objectives of MDG was to half the number of people with less than 1.25 dollars as an income, create a full employment that is decent and productive for all as well as halve the number of people who are hungry (In Karnie & Biermann, 2018). The main difference between the new policy and the previous MDGS is the involvement of key stakeholders to make it sustainable.

 

 

 

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In Andrews, N., In Khalema, N. E., & In Assié-Lumumba, N. D. T. (2015). Millennium development goals (MDGs) in retrospect: Africa’s development beyond 2015. 24th November 2018. http://www.fao.org/sustainable-development-goals/mdg/goal-1/en/

In Kanie, N., & In Biermann, F. (2018). Governing through goals: Sustainable development goals as governance innovation. 24th November 2018. http://www.fao.org/3/a-i7556e.pdf

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Commission on Global Poverty,, & World Bank Group,. (2017). Monitoring global poverty: Report of the Commission on Global Poverty.