What roles does the poor play in the Economy? - page 9.

panganib999

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Quote from: Framelover on June 24, 2023, 06:58:53 AM

In what ways have the people living in poverty impacted in the economy?
Share your ideas on the importance of the poor masses in economy sustainability.

The poor bears the brunt of the whole hierarchy. It might comes as a surprise to everyone, but the poor pays all. Let me explain how.

We all know that stuff is twice as expensive if you're poor, since you'll be forced to buy products and services that aren't that great, and when they fall short and break you'd have to buy them again and again. They also are one of the biggest consumers in the market, surprisingly. Since compared to middle-class and rich people who could purchase services and products with money they could take a loan out of in the bank (which is still money generated anyway but I digress), the poor will always be forced to buy stuff with cash and facilitate monetary circulation. They also are the easiest to please out of the three since you just need to give them the basic necessities for survival and they're all set.

Ever wondered why the government's not doing anything of substance to eradicate poverty? Well there's your answer. They need the poor to be there otherwise there won't be anyone to subject to these kinds of ethically inhumane practices.

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Quote from: Yamifoud on June 24, 2023, 04:03:52 PM

Quote from: Framelover on June 24, 2023, 06:58:53 AM

In what ways have the people living in poverty impacted in the economy?
Share your ideas on the importance of the poor masses in economy sustainability.

Rich people can't live without poor people as they will hire them to work and serve them. It was the fact that the poor people can't be eliminated in the community, they still exist because even though they wanted to improve their living but their thought about being contented to work with rich people who were also good to them, they stop dreaming big. Their labor participation helps the economy become sustainable as their role is to give service who are in need and we give thanks to them. That is why we must also be kind to them, not by taking advantage of their status.

there are so many jobs for them that rich or middle-income families don't want to get a dip on. so yeah, everyone needs the service of the low-income earners. and sometimes, it is the source of some abuse from their respective employers. as they don't have the education, some are taking advantage of their lack of understanding of their rights.
small shops requiring person/s to attend to, housekeepers, construction workers and other blue-collar jobs, they need these people. if all are rich, who would take those jobs? this is why they are also important to our community.

Mr.right85

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Quote from: Framelover on June 24, 2023, 06:58:53 AM

In what ways have the people living in poverty impacted in the economy?
Share your ideas on the importance of the poor masses in economy sustainability.

If I can’t say much on this then I’ll tell you only one thing,
The rich thrives on the poor. Without the poor, the rich can’t survive or stay in their status.

That’s how vital the poor are for a stable society. They actually create the wealth many enjoy by buying in bits and pulling up their resources both human and natural to make systems work.

It’s a good thing everyone can’t be rich but, we do hope for less suffering in our world at least. Means to a near comfortable dwelling for many.

bayu7adi

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Being an end consumer with affordable product prices.

For individuals facing poverty, it's challenging to compete as producers due to a lack of initial capital to start a business. They also have to contend with well-established companies in the industry. There are limited opportunities unless they engage in small-scale home-based production.

As distributors, individuals in poverty often lack knowledge in this area. The world of sales is ruthless, filled with resilient individuals who fight daily for sales and revenue.

nurilham

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Quote from: Nwada001 on June 24, 2023, 07:45:57 AM

So providing cheap labor is one of their other contributions to a country's economy since payment, which could have been used to pay 1 laborer, could now possibly be shared among 3 for different jobs. Companies reduced expenses.

Agree. Without poor people, there will be no cheap labor in a country. Although it seems like very unfortunate for them, they deserve cheap payments due to limited skills and knowledge. If all people in a country are educated people with rich status, there will be no cheap labor. And we may see a slow growth of companies because they require a lot funds to pay their operational fees.

Quote from: mindrust on June 24, 2023, 08:40:58 AM

Poor people are great at making the rich even richer. That’s the purpose of their existence. They work in low paying jobs and they buy the shit they don’t need because they know they will never get rich saving money so they spend every penny they get.

I don't think it is the purpose of poor people existence. Rich people get the advantage of poor people because the poor people have no choice. Actually, the rich people can increase the minimum payment of the poor. But they don't do it because they don' want to spend too much money. While the poor must want sufficient payment, they accept cheap payments because they can't do anything.

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Quote from: Framelover on June 24, 2023, 06:58:53 AM

In what ways have the people living in poverty impacted in the economy?
Share your ideas on the importance of the poor masses in economy sustainability.

Rich people can't live without poor people as they will hire them to work and serve them. It was the fact that the poor people can't be eliminated in the community, they still exist because even though they wanted to improve their living but their thought about being contented to work with rich people who were also good to them, they stop dreaming big. Their labor participation helps the economy become sustainable as their role is to give service who are in need and we give thanks to them. That is why we must also be kind to them, not by taking advantage of their status.

mvdheuvel1983

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Quote from: Framelover on June 24, 2023, 06:58:53 AM

In what ways have the people living in poverty impacted in the economy?
Share your ideas on the importance of the poor masses in economy sustainability.

Somewhere in Asia, there are underpaid cheap labour workers working day and night around the clock assembling the latest iphone so you can have a comfortable life.
Somewhere in Africa there are underpaid, underaged cheap labour workers working day and night around the clock in mines looking for diamonds and other precious stones so that they can improve the economy of other countries.

These are poor people who if they had better options, they wouldn't allow themselves to be exploited by these companies for pennies. They have an important role they play in the economy. In Asia and Africa, the assembly and mining done by the poor improves their economy by making them one of the most industrialized nations in the world. It brings money into the economy. Want to know how they impact the economy? Read this article - https://www.nytimes.com/2016/12/29/technology/apple-iphone-china-foxconn.html

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Quote from: Oshosondy on June 24, 2023, 07:07:04 AM

If people in a country are poor, it means the country is not in good hands of the government, it means the country's economy is poor. It means there is huge unemployment in the country. It means that what the country is producing and their man power is low.

Yes, if there are a lot of poor people in a country it means the country's economy is not doing well but it does always mean the country is not in the good hand of the government because the country's mineral resources will determine that.

Quote from: Oshosondy on June 24, 2023, 07:07:04 AM

Quote from: Framelover on June 24, 2023, 06:58:53 AM

Share your ideas on the importance of the poor masses in economy sustainability.

Poverty is not good and it has no importance to the economy. It can only make the rich people in such country to be more influential and be more respected by the poor people. But speaking of an economy, poverty is the opposite of a good economy.

Yes, but poor people play more significant roles when it comes to the economy than just respecting the rich because they will also pay taxes and also hold the key area in the country's labor.

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Poor is the service provider in my view poor plays an important role even more important role than the Rich class or you can say simply the elite class. What I meant here can be explained simply by the example, consider the poor as Plats who provide us with food similarly poor are the producers, constructors or you can say developers of the services we consume daily.

It's a balanced system by nature because the poor are eating because of the rich ones and the rich ones are rich just because of the poor, what if poor people stop providing their services there will be no rich no poor everyone will make their own efforts to survive.

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Quote from: Framelover on June 24, 2023, 06:58:53 AM

In what ways have the people living in poverty impacted in the economy?
Share your ideas on the importance of the poor masses in economy sustainability.

Consider how a country would be if everyone was wealthy. I believe they will end up hiring robots to do the tedious labor for them, which will be costly.

The poor masses are incredibly beneficial and crucial to a country's economic growth and development.
They handle the workforce behind the important infrastructural development of a country because rich people cannot undertake hard labor in any production industry; additionally, the usage of robots would be more expensive than manpower.

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Quote from: Mpamaegbu on June 24, 2023, 11:59:08 AM

What roles does the poor play in the Economy? Answer – They run errand for the rich 😆.

Mutualism symbiosis, both need each other and are equally beneficial.
The question is the same with the role of consumers and traders and other some things like that.

However, when things are out of balance, it is clear that there will be impacts that may not be good. In the economic development plan, the government needs to resolve the problem of poverty that occurs in the country or at least pay attention to poverty first so that the percentage is lower. The lower the poverty rate, the better the economic development of a country. So in general, poverty affects economic growth, so it will hinder progress if not handled properly.

judaspriest

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Quote from: BIT-BENDER on June 24, 2023, 01:53:06 PM

Well firstly no one hopes or pray to be poor it's just a condition they find themselves at, and I must say they have an important role to play in the economy of many nation.

Truth be told it's poor people actually play an important role in the community, most manual labours of any countries are done by the poor, the hardest of the manual labours in industries are done by the poor. The dirtiest but very important jobs of the world are done by the poor, it's sad that even though this set of people are payed less they play and important role in the labour market of any country.

Admittedly or not what you say is quite true and in the end the facts are like that,
just imagine if there were no poor people, of course no one would want to work in a dirty place or whatever with hard work and not big wages,
It is clear that everyone has their own role in life.

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Quote from: Framelover on June 24, 2023, 06:58:53 AM

In what ways have the people living in poverty impacted in the economy?
Share your ideas on the importance of the poor masses in economy sustainability.

The poor uses the least amount of resources while also being the ones that can self-sustain themselves the best as many of them can plant and grow their own food, while at the same time they are the economic motor of the country as in most countries they are the most numerous sector of the population, and the ones needed the most to be employed at the many different jobs available through the country, still the treatment they receive by society at large is lacking as they are treated as if their poverty is caused by their laziness, when in fact it is caused by our economic system.

Mate2237

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Quote from: Framelover on June 24, 2023, 06:58:53 AM

In what ways have the people living in poverty impacted in the economy?
Share your ideas on the importance of the poor masses in economy sustainability.

Op let me ask you this question before I answer mine. Now, what role do play for the development of the country economy in your locality? Probably you do the following, you buy things and possibly you are a business man buying and selling goods and services in your area.

If you have dog, hen or cat as a pet, you will give them foods even the ones that you eat remain will be giving to the pets to heat. That means you won't waste any food n your house. Because they will be helping you to eat the remnants.

Without the poor people in the society the rich can't live. All the rich people are doing one business to the other and the consumers of those goods are the poor so the poor has the most important role in the development of the Nation or the world economy. Without the poor the economy can't even grow. The poor makes everything good for the rice. The poor help themselves by buying and selling goods and services among themselves.

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Quote from: Framelover on June 24, 2023, 06:58:53 AM

In what ways have the people living in poverty impacted in the economy?
Share your ideas on the importance of the poor masses in economy sustainability.

I hate to say it, but the poor masses are generally the fillers of the grunt work in the economy to make sure that it runs. They fill in the position of dangerous jobs in the economy and are usually the 'expendables' in the grand scheme of things.

Also, a lot of poor people in an area signifies something isn't really working in the economy, because if everything is working as intended, no one will be poor, or at least their numbers aren't as alarming as they are. The menial jobs will pay much higher, and companies will actually care more about those workers in those jobs as they have the capacity to do so, unlike those in the areas wherein poverty is rampant and people are willing to work for a job that is hard and pays less just to get that paycheck for their family.

uneng

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First of all, if a poor class exists in society it's a signal the economy isn't working properly. The correct would be that every citizens had minimal dignity conditions to be part of the middle class, at least, since everyone can't be equally rich or millionaires.

Anyway, the poor plays a role in our economy like every other classes around. They usually compose the cheap labor force and get jobs on the most basic areas, such as delivery, attendant, maid, gardener, waiter, servant, auxiliary and so on for minimal wages.

They have a huge practical impact on the society and move large sums of money on the local economy, since it's the major class in most countries. The poor are also the main target of businessmen and media when launching their catchy marketing campaigns focused on mass consumption.

BIT-BENDER

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Well firstly no one hopes or pray to be poor it's just a condition they find themselves at, and I must say they have an important role to play in the economy of many nation.

Truth be told it's poor people actually play an important role in the community, most manual labours of any countries are done by the poor, the hardest of the manual labours in industries are done by the poor. The dirtiest but very important jobs of the world are done by the poor, it's sad that even though this set of people are payed less they play and important role in the labour market of any country.

Dr.Bitcoin_Strange

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What are you even saying, @OP? The question I would ask you is: What is the government of their country doing to help eradicate the poverty of those people? because I know very well that some people try all their best just to fight poverty, but they end up giving up once things are not working out the way they planned. Some people would also give up because there is no one to support their efforts financially or otherwise. But what you should know is that everyone has a role to play in society and the economy. Everybody is important in their society, whether they are poor or rich.

One role of the poor in the economy is that most commercial farmers use the help of those poor individuals by employing them to do some jobs on the farm, and if they are not available to do those duties, some things could still go wrong on the farm. Please know that everyone has a role to play.

Cheers 🥂, Dr.Bitcoin_Strange 👺👺

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Quote from: Framelover on June 24, 2023, 06:58:53 AM

In what ways have the people living in poverty impacted in the economy?
Share your ideas on the importance of the poor masses in economy sustainability.

Poor people are always of stupid quality because of which the rich get richer by exploiting them. so a poor man contributes to a rich man. and rich people help to develop the economic side of the country. So I would like to consider these and say that poor people also play a good role in the economic side. But it may be less than rich people. But the economic contribution of poor people cannot be denied.

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Quote from: Framelover on June 24, 2023, 06:58:53 AM

In what ways have the people living in poverty impacted in the economy?
Share your ideas on the importance of the poor masses in economy sustainability.

Poor people are the backbone of every infrastructure built in a country, maybe it was designed by someone but who actually works there are poor people. So more poor people means it will be easier for richer to make money cause they can hire workers for cheap as always no matter the inflation is hitting the sky.

Over the years policy makers made things which is fair for everyone but still people from overseas are misused in many countries especially in the infrastructure development by importing lots of people and make them to work for less money than what government decided as minimum wage. On the contrary we can never get financial equality like everyone is same financially stable so what matters most is to bring the difference in inequality to lesser.

Topic: What roles does the poor play in the Economy? - page 9. (Read 1620 times)