What would happen, if there would be no poverty in the world?
Around 2,5 billions humans are living in poverty around the globe, mainly they are living in regions like Africa, South America and middle Asia. What would happen, if there would be zero poverty in the world? And what that would costs to other, more wealthier countries and regions?
Firstly, people would start to eat. They would start to consume products which they couldn’t afford when they being in poverty. People could now afford lactose products, grains and meat which already have high demand for. That would rapidly increase demand for previous mentioned and for all food products which allow to be imported easily. In this case, this products price would start to rise rapidly.
Secondly, humans who just got out of poverty would now start using electronic devices, which consume electricity. Humans would start using their own cars and could now use more resource than previous. For example, we can take a look, what would happen if there would be no poverty in middle Asia region. This region has border with Russia. Russia is one of the biggest, if not biggest, resource exporter in the world. For Russia, it would mean that there would be more demand for their resources and bigger demand means, that there would be higher prices. The biggest victims of this non poverty regions would be Europe, especially Eastern Europe, Central and South Europe as well as Finland and post soviet countries who’s depend on Russia resources. Prices for them would grow rapidly. If we look in global scale, more than 2 billions are now able to own a car and use it in every day bases.
Oil price would now be sky rocketing, because of demand. Air pollution would be more serious problem too.
Finally, humans who just got out from poverty would now have chance to start their business and maybe to create something innovative. New business would now mean more competitions to other businesses. For example, if those countries would now start to produce electronics, that means there could be price drop for electronics, which means that people will now use more electronics. This could give bad impact to some nation economy. This new producing in this countries could mean more waste an pollution as well.
In conclusion, after reviewing this scenario, I think, that for many nations it is not profitable to eradicate poverty, because it can give bad impact to their economical stability. What impact will be on you, if there would be zero poverty in the world?
Author: Markuss Janis Svageris (Latvia) / Latconsul.
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