New Microsoft Office Word Document (3) - THE CO-OPERATIVE...

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THE CO-OPERATIVE UNIVERSITY COLLEGE OF KENYA FACULTY OF CO-OPERATIVES AND COMMUNITY DEVELOPMENT UNIT: SOCIALIZATION PROCESS NAME: JUDY NJERI NDUNGU REG. NO: BCDC01/0022/2015 UNIT CODE: CUCC 2106 DUE DATE April, 2016
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Poverty is passed from one generation to the next. But we may fight poverty in our society through the following ways; 1. Employment and productivity Economic growth has the indirect potential to alleviate poverty, as a result of a simultaneous increases in employment opportunities and labour productivity. However, employment is no guarantee of escaping poverty, the International Labour Organization (ILO) estimates that as many as 40% of workers are poor, not earning enough to keep their families above the $2 a day poverty line. For instance, in India most of the chronically poor are wage earners in formal employment, because their jobs are insecure and low paid and offer no chance to accumulate wealth to avoid risks. This appears to be the result of a negative relationship between employment creation and increased productivity, when a simultaneous positive increase is required to reduced poverty. Increases in employment without increases in productivity leads to a rise in the number of "working poor", which is why some experts are now promoting the creation of "quality" and not "quantity" in labour market policies. The services sector is most effective at translating productivity growth into employment growth. Agriculture provides a safety net for jobs and economic buffer when other sectors are struggling. This study suggests a more nuanced u Economic liberalization 2. Economic liberalization Extending property rights protection to the poor is one of the most important poverty reduction strategies a nation can implement. Securing property rights to land, the largest asset for most societies, is vital to their economic freedom. The World Bank concludes that increasing land rights is ‘the key to reducing poverty’ citing that land rights greatly increase poor people’s wealth, in some cases doubling it. ending government sponsorship of social programs is sometimes advocated as a free market principle with tragic consequences. For example, the World Bank presses poor nations to eliminate subsidies for fertilizer that many farmers cannot afford at market prices. The reconfiguration of public financing in former Soviet states during their transition to a market economy called for reduced spending on health and education, sharply increasing poverty. Trade liberalization increases total surplus of trading nations. Remittances sent to poor countries, such as India, are sometimes larger than foreign direct investment and total remittances are more than double aid flows from OECD countries. Foreign investment and export industries helped fuel the economic expansion of fast growing Asian nations. However, trade rules are often unfair as they
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