The paper "International Relations and the Global Economy" is a good example of macro and microeconomic essay. The accomplishment of the world in reducing poverty is rough, by any measure, remarkable. Even though scores of the new Millennium Development Goals (MDGs) like reducing maternal death by 75 percent will not be achieved, the goal of reducing global poverty by 50% between 1990 and 2015 was realized in 2010 (The Economist, 2013). Basically, the MDGs could have aided slightly, by generating a benchmark for progress measurement, as well as by concentrating minds on poverty iniquity.
However, nearly all of the acknowledgements have to go to capitalism and free trade, given that they have facilitated economies to develop, and this growth, has above all, alleviated poverty(Perry, 2013). Countries at the moment understand means of reducing poverty such as through targeted policies like basic cash-transfer schemes as well as social safety nets. Nevertheless, the principal measure of poverty-reduction is liberalizing all markets to allow a poor person to become richer(The Economist, 2013). That connotes freeing trade between nations as well as within them.
The essay seeks to critically evaluate the claim that ‘ the primary reason that nearly 1 billion people have been taken out of extreme poverty in the past 20 years has been capitalism and free trade’ . Discussion This claim is relatively not true considering that capitalism has failed to end poverty in countries like India or China, which have simply been largely substituted by an agrarian class exploitation system with slavery on wage. The similar process occurred in the 18th century in Britain at the time of the Industrial Revolution, and this was not a charitable act.
According to (Socialist Studies, 2013), Feudal economy exploitation was substituted by capitalist economy exploitation, and poverty, in this case, is not a natural condition of the human state. Arguably, poverty is actually brought about by commodity production and capitalism as well as exchange for earnings.
Brady, D., 2009. Rich Democracies, Poor People : How Politics Explain Poverty: How Politics Explain Poverty. Oxford : Oxford University Press.
Frank, R., 2013. Top 1% Control 39% of World's Wealth. [Online] Available at: http://www.cnbc.com/id/100780163 [Accessed 23 October 2014].
Marsden, R., 2003. Nature of Capital: Marx After Foucault. New York: Routledge.
McKie, D. & Munshi, D., 2007. Reconfiguring Public Relations: Ecology, Equity and Enterprise. New York: Routledge.
Perry, M.J., 2013. Take a bow, capitalism — nearly 1 billion people have been taken out of extreme poverty in 20 years, thanks to markets. [Online] Available at: http://www.aei-ideas.org/2013/06/take-a-bow-capitalism-nearly-1-billion-people-have-been-taken-out-of-extreme-poverty-in-20-years-thanks-to-markets/ [Accessed 23 October 2014].
Shah, A., 2006. Criticisms of Current Forms of Free Trade. [Online] Available at: http://www.globalissues.org/article/40/criticisms-of-current-forms-of-free-trade [Accessed 21 October 2014].
Socialist Studies, 2013. Is Capitalism Ending poverty?. [Online] Available at: http://www.socialiststudies.org.uk/article%20poverty.shtml [Accessed 23 October 2014].
The Economist, 2013. Towards the end of poverty. [Online] Available at: http://www.economist.com/news/leaders/21578665-nearly-1-billion-people-have-been-taken-out-extreme-poverty-20-years-world-should-aim [Accessed 23 October 2014].