Poverty is a tremendous issue in many countries around the world, and it can be strenuous to break out of the cycle of poverty. The poorest in the world are often undernourished, without access to basic services. The World Bank estimates that around 685 million people could be extremely poor by the end of 2022, and that poverty is now declining at a very slow rate of only 2 percent a year. Put another way, 685 million people presently lack basic assets and/or do not see a return on the assets they have. For most people, this forms a cycle of poverty that, without any outside intervention, they are unlikely to break out.
Concept of the Vicious Cycle of Poverty
The phrase "vicious cycle of poverty" alludes to the idea that poverty causes poverty. When someone with little money finds themselves in debt, they will often take out additional loans in order to pay off the original loan, resulting in an ever-growing amount of debt. This ongoing cycle of debt is then passed down to their children, trapping them in a cycle of poverty. Another example is, someone who is poor may not have enough sustenance; being malnourished, they may be frailer than richer people; being physically weak, their working capability is diminished, leading to their income being lowered, which implies they would not have enough to eat and so on.
Causes of the cycle
One of the common causes of the formation of the cycle is physical illnesses. They lead to income loss which implies additional bills. The lowered standard of living can cause further health issues and bills. Some believe that the hopelessness of the people in poverty is the major cause of the cycle and the main reason for the difficulty of breaking the cycle. A Dartmouth College (2016) study reported that probabilistic decision-making follows prior-based knowledge of failure in similar situations. Rather than choose success, people respond as if failure has already taken place. Those who have experienced intergenerational poverty are most susceptible to this kind of learned behaviour (Wagmiller & Adelman, 2009). Without hope and the belief that life can be better, the motivation and energy needed to break the cycle are very low. People living in poverty would have lower motivation to find opportunities to break the cycle which leads to intergenerational poverty. The lack of education for children of poor families intensifies the situation. Poor parents cannot afford to provide tuition, books, tutoring, or after-school programs which are required for efficient education. Older children may be pressured to drop out of school and work, for immediate wages at the expense of education that could provide higher long-term wages.
How does the poverty cycle affect children?
Children are dependent on their guardians and cannot pull themselves out of the cycle of poverty because of their young age and lack of resources. They are likely to remain poor if their family is living in poverty due to a lack of access to education. The most basic education – reading, writing and arithmetic – which can open doors to futures, are likely not provided to people living in extreme poverty due to the families not being able to provide them fees. Children, especially girls, are at greater risk of exploitation and early marriage if they are not in school. They may have poor health conditions due to a lack of healthcare access or malnutrition. They may not have access to a safe water source and enough food.
How to break the poverty cycle?
How can this seemingly endless chain of devastation be broken? To solve this problem, outside intervention is needed. According to the GAP Report NLIHC, over seven million Americans with extremely low incomes spend more than half of their incomes on rental housing and utilities. If governments can provide affordable housing, parents can spend more money on their children’s future, such as education and healthcare. This may allow their children to escape from poverty. Governments can also provide free education for poor children. According to Xu Wenqing, director of the Center for Human-Environmental Systems, education is not only for children but equally important for their parents and the entire community, including their ways of living and understanding of the outside world. It is more likely for children to acquire high-paying jobs and break the vicious cycle when they get the skills and knowledge required.
Conclusion
Poverty is a major issue that affects individuals and communities around the world. The vicious cycle of poverty can be difficult to break, but it is possible for the situation to be improved. To do so, a multi-faceted approach must be taken, focusing on improving access to education, housing and other resources. Only then will we be able to break the vicious cycle of poverty.
Want to know more? Check out our sources!
What is the cycle of poverty? https://www.worldvision.ca/stories/child-sponsorship/what-is-the-cycle-of-poverty
WHAT IS THE CYCLE OF POVERTY? https://www.concernusa.org/what-we-do/cycle-of-poverty/
The Cycle of Poverty: https://www.nccaa.net/post/the-cycle-of-poverty
Breaking the cycle of poverty: https://www.unicef.cn/en/stories/breaking-cycle-poverty
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