Poverty and Low Earnings in the Developing World

Abstract

More than three billion people are poor by international standards, and essentially all are to be found in the low-and middle-income countries of Asia, Africa, and Latin America. The issues for understanding poverty in the developing world -among them, self-employment and household enterprises, agricultural work, casual employment, and informal work -differ from those in the developed world. Different policy issues predominate: stimulating economic growth, harnessing the energies of the private sector, increasing paid employment, and raising the returns to self-employment. This chapter details how the poorer half of the world's people work and gives an overview of lessons from around the world on what has helped improve their earning opportunities. The chapter concludes with suggestions for future research. Abstract More than three billion people are poor by international standards, and essentially all are to be found in the low-and middle-income countries of Asia, Africa, and Latin America. The issues for understanding poverty in the developing world -among them, selfemployment and household enterprises, agricultural work, casual employment, and informal work -differ from those in the developed world. Different policy issues predominate: stimulating economic growth, harnessing the energies of the private sector, increasing paid employment, and raising the returns to self-employment. This chapter details how the poorer half of the world's people work and gives an overview of lessons from around the world on what has helped improve their earning opportunities. The chapter concludes with suggestions for future research. JEL ClassificationsI3, J3, J4, O1

Cost–benefit analysis of controlling rabies: placing economics at the heart of rabies control to focus political will

“…In the Philippines and Tanzania, only about 1% of patients received RIG, while just 9% received RIG in South Africa (21). The cost of PEP is out of reach for many people in developing countries, where daily wages are often only US$ 1 or US$ 2 (22).…”

Effect of Economic Vulnerability on Competitive Advantages, Enterprise Performance and Sustainability

“…Moreover, past studies have proven that entrepreneurship does reduce the inequality in income distribution (Halvarsson et al 2018), and increases household wealth and income (Gentry and Hubbard 2004). Thus, entrepreneurship has been regarded as livelihood strategy as it complements salaried employment, raises income and labor utilization (Fields 2012), and addresses economic vulnerability (Verrest 2013).…”

“…Moreover, prior studies have proven that entrepreneurship can decrease inequality in income distribution (Halvarsson et al 2018), but increase household wealth and income (Gentry and Hubbard 2004). As such, entrepreneurship is translated into a livelihood strategy, mainly because it complements salaried employment, raises income and labor utilization (Fields 2012), besides overcoming economic vulnerability (Verrest 2013). Hence, it is assumed that superior performance, which increases income and assets accumulation, may aid micro-enterprises owned and managed by those from low-income households in coping better with unexpected shocks, aside from minimizing economic vulnerability.…”

“…Hence, entrepreneurship has been regarded as a livelihood strategy as it complements salaried employment, raises income and labor utilization (Fields 2012), and appears to be the answer to overcome economic vulnerability (Verrest 2013). Additionally, Ma (2000) asserted that it is highly likely for an organization to offer added-value product and/or services for customers to attain better performance.…”

The Capabilities Approach and Worker Wellbeing

“…These conditions are widespread in many developing countries today (Fields, 2011(Fields, , 2012. As we noted earlier, the capabilities approach looks to a 'social choice' exercise to bring about the required change.…”