Wednesday, December 4, 2013

Odd, But Poverty Is An Early Stage Of Economic Growth.

Involvement in a productive endeavor is a valuable exercise of social cooperation and all kinds of social cooperation, including work, stir ideas and innovations. Greater confidence and acquired skills combined with an income stream and the possibility of savings leads to a furthering of the process of economic growth from the ''ground up."

Humans use their income to buy what they need, to subsist. If their income exceeds subsistence then they can save, which is how capital becomes a productive factor. Humans are social - physically, mentally, and spiritually - and so they recognize the blessings and advantages of cooperating. A small savings can become a pool of savings and a simple idea can be refined through consultation. This is part of the process of economic growth.
For the individual faced with poverty and for the nation that is relatively poor compared to other nations it is the ability to find work that is voluntarily chosen that begins the process of economic growth for that individual and for that society.
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