What roles does the poor play in the Economy?

[Sayeds56]

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 play a very crucial role by providing major portion of labor force for various sectors of the economy. They take up labor intensive jobs, in construction, manufacturing and service sectors.Thereby contributing for the continuous functioning and growth of the economy. Their dedication and hard work in these roles help drive development and sustain various industries.

It is essential to acknowledge and express appreciation for the contribution made by poor to keep our industries and services functioning seamlessly.

[Yogee]

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 play a very crucial role by providing major portion of labor force for various sectors of the economy. They take up labor intensive jobs, in construction, manufacturing and service sectors.Thereby contributing for the continuous functioning and growth of the economy. Their dedication and hard work in these roles help drive development and sustain various industries.

I'll just add more details to this. Once they get their salaries or wages then they can at least purchase their basic needs or even their wants. This means that the money continues to circulate within the country. This group's consumer spending also play a vital role in measuring a country's overall Gross Domestic Product score.

[Nwada001]

Huge! The poor masses have so vital a function in the economy. In the first place, they are the milking cows of businessmen. I can only speak for my country, though.

That's the art of life, sir. For example, for the completion of work that is manpower in nature, you definitely need the name of a worker who can complete the job according to the required technical specifications. Now. what I'm thinking now is whether there are rich people who want to work like poor people. Of course not the answer. Because their social status is the same. that's why rich people must also have taste, don't ever think they are their cash cows.

That's not art for me. I'm seeing exploitation, oppression. But I'm not simply speaking of laborers working. That's not necessarily unfair. They got their level of skills. They gotta find work where they function best. That's all right provided they're not overworked in an unsafe and inhuman condition, and extremely underpaid.

How can you not consider the masses the cash cows of businesses when they are comprising almost 60% of the entire population?

To some point, all I see is Nature. Although I don't know by what standard you guys consider one to be poor, just because one is poor doesn't mean he or she will not have a choice; that does not mean they will be maltreated; that does not mean they will be oppressed.
 
There are still some Rich companies out there that regard every human as one, irrespective of what level they are at. When I talk about my point regarding low pay for labor, this is based on level of qualification, not oppression.
 
To me, if I were to employ labor to come work for me in any industry, I would rate their pay based on how they present themselves. There are people who know what they are actually doing, but because they lack the opportunity to showcase their talent and are always afraid of losing their opportunities, they themselves request a low pay on a job that they could have charged a high price for. So when such an opportunity presents itself, as a good economist, you will always choose the option that will cost you less. But they will be respected, not oppressed, because they have nothing.
 
There are also people out there who use any little chance that they have to oppress those they believe they have more power over, either financially or in their position; they use their position natively. We have a lot of such people in the labor market and in every society, but that does not define how everyone else will treat their employees, and that's not how the poor are also wrongly treated everywhere.

[naira]

But another major thing that I believe the poor usually offer to society is cheap labor. That's to say, since they don't have money, they will likely do work that requires a higher pay and take a low pay as payment since they are, at some point, just after any payment that can just foot their bills for that day.

True, when people don't have high-paying skills, they can still do simple jobs (but with low salaries). Without people who take that kind of job, the economy would slow down or maybe the society would even crumble. If no one cleans streets, toilets, etc., it would be a disaster. Also, most people are poor at some point in their life, and they can escape poverty by continuously learning and working hard. In other words, it serves as competition and competition is good for the economy.

As another example, we can prove that not all the work of the poor can be done by the rich, and vice versa. Even if there are no poor people there are no so-called rich people. Apart from that all social status is only a status and will complement each other so that there is an economic cycle where the rich need the services of the poor to complete their projects. Without the position of the workforce, whatever the rich build will never be completed.

[kryptqnick]

The problem in the way the op formulates the main question is that the answer would lead to justifying the existence of poverty. That's why I want to start by saying that I believe it's important to work on ending poverty. It doesn't mean that everyone should have the same income, but it means that nobody should be below the reasonable minimum, required to cover basic life expenses. People who are poor often aren't unemployed and actually work a lot. The jobs they do can be very important, as manual labour gets a lot of things we take for granted done, such as food being organized and put on shelves of the supermarkets, streets being cleaned, etc. I believe that people who work full-time must receive salaries that always keep them above poverty. But that often just isn't the case, so people work, do their best, and yet remain poor.

[Huppercase]

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 people doing the menial job?  they are the low standard people and are always regard as poor because their earnings are far below standard of living and without them, the economy will not function, without them, the rich will do the hard task by themselves, without their influence, the politicians wouldn't have manifesto to campaign, without them there wouldn't be grant for low level people and in short without them, you will have to do the farming work your self, the driver who do commercial work, the barber who cut your hair, the dry cleaners who wash your dirty clothes.

There are more I can mention about poor people impact on the economy but I will drop my pen here.

[|MINER|]

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.

Every person who works without sitting on the bench they must contribute to the economy. Those people doesn't any contribution on economy who sit idle without doing any work.  Our society consists of people from all classes, rich and poor, everyone has a contribution to the economy. If you own a company, you must employ people to run the company so that they also contribute to the economy by working. I think that in order to keep the economy of a country sustainable, the people of the country should not sit at home and work from their own positions, and as a result, when the number of unemployment decreases, then the economy of that country will be strengthened.

[isaac_clarke22]

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.

I mean yeah, no one desires to be poor, but imagine if everyone became rich. No one would want to work for anyone and that would be really a horrible shape in the economy. I also had thought of that back then, but then I found out that it isn't really a good idea to have everyone rich.

The Poor play a very crucial role by providing major portion of labor force for various sectors of the economy. They take up labor intensive jobs, in construction, manufacturing and service sectors.Thereby contributing for the continuous functioning and growth of the economy. Their dedication and hard work in these roles help drive development and sustain various industries.

It is essential to acknowledge and express appreciation for the contribution made by poor to keep our industries and services functioning seamlessly.

This is true just like what I mentioned on why having everyone rich would be a horrible idea. Just imagine building a business and no one would want to work for you because..... well they're already rich. What would they want to work for if they're already  economically sated.

[Desscount]

But another major thing that I believe the poor usually offer to society is cheap labor. That's to say, since they don't have money, they will likely do work that requires a higher pay and take a low pay as payment since they are, at some point, just after any payment that can just foot their bills for that day.

True, when people don't have high-paying skills, they can still do simple jobs (but with low salaries). Without people who take that kind of job, the economy would slow down or maybe the society would even crumble. If no one cleans streets, toilets, etc., it would be a disaster. Also, most people are poor at some point in their life, and they can escape poverty by continuously learning and working hard. In other words, it serves as competition and competition is good for the economy.

As another example, we can prove that not all the work of the poor can be done by the rich, and vice versa. Even if there are no poor people there are no so-called rich people. Apart from that all social status is only a status and will complement each other so that there is an economic cycle where the rich need the services of the poor to complete their projects. Without the position of the workforce, whatever the rich build will never be completed.

It's true, that's the fact, and I believe that this is all part of life,
God seems unfair to give a role to the poor but God knows better how to live a more balanced life,
what is clear as humans we need each other so never underestimate anyone.

[Nwada001]

God seems unfair to give a role to the poor but God knows better how to live a more balanced life,

You are going too religious here since you are already into it. Let me argue based on my knowledge.
I don't believe God made anyone Rich and others poor. That's just like saying God made some people human and others less human.
To me, everyone is created equal; we are now the ones who work hard and make a part for ourselves; it's the steps we take that help us most of the time half way to the level we could be seen at.

No doubt there are people who are born into a family where they don't need to stress themselves much for them to be able to secure a stable cash flow Job. But that's as a result of what their family background has labored for and set aside for them not to pass through the hard times that their fathers did in their youthful age.

what is clear as humans we need each other so never underestimate anyone

You are right on this one. In life, we all need each other to survive to some point; either directly or indirectly, we are all helping hands to one another. But some people still argue that there is no such thing and claim to be purely independent.

[Captain Corporate]

Even education is based towards "poor", sure you can be better than others when you compare yourself with the people you study, but the education for the rich kids are insanely different, its not even remotely similar. We do become "rich" in comparison with education if we are hard working and smart, like doctors and lawyers, or maybe a good engineer (bad one could be poor too) so all in all education can get you out of poverty. But the education system is not built for you to get rich, nor is it built for you to balance the wealth gap. Wit the insane gap we have between the wealthy and the poor, even if one person ends up becoming rich, there are still billions who are either poor, or won't have money to buy what they need. So all in all, poverty is a needed concept, poor people are needed in the system, without poor people none of this would work.

[erep]

I mean yeah, no one desires to be poor, but imagine if everyone became rich. No one would want to work for anyone and that would be really a horrible shape in the economy. I also had thought of that back then, but then I found out that it isn't really a good idea to have everyone rich.

You have to assess other aspects of the impact of poverty on the economy, look at the economic level of China as the second country on the list of the best economies in the world, the government has reduced poverty above 70% including people in remote rural areas because the government is concerned with people getting a stable economic status for their daily needs, so Do you think there are no jobs with low paying costs? of course there is because there are still small groups of people who still have poverty that has not been handled with government assistance.

This is true just like what I mentioned on why having everyone rich would be a horrible idea. Just imagine building a business and no one would want to work for you because..... well they're already rich. What would they want to work for if they're already  economically sated.

But know every country wants to eradicate poverty to improve economic status, but I'm not sure why you say such a terrible idea if there are no poor people, I hope you don't forget the history of the covid pandemic in the past few years, all aspects of the economy are paralyzed and most of your businesses are not running because they don't have money to buy anything they need.

[Mame89]

As another example, we can prove that not all the work of the poor can be done by the rich, and vice versa. Even if there are no poor people there are no so-called rich people. Apart from that all social status is only a status and will complement each other so that there is an economic cycle where the rich need the services of the poor to complete their projects. Without the position of the workforce, whatever the rich build will never be completed.

When viewed from an economic perspective, the relationship between the rich and the poor really need each other. Another example is the most basic and this concerns survival, because the rich and the poor will need each other for demand and supply in traditional markets, this could be a matter of basic needs, such as food, fruit and fruit, of course all of these are agricultural products the poor.

On the other hand, the poor also need goods or services which of course are provided by the rich because they have many companies, such as clothing, housing and health services. That way these companies will produce goods and services needed by the poor, this will also create very broad job opportunities for the poor here again both of them need each other. And vice versa, the rich need consumers from all walks of life, including the poor, to buy goods or other products. So it's true, as you said, the dependence of the two cannot be separated because the cycle is like that, they are interconnected.

[nur rochid]

But another major thing that I believe the poor usually offer to society is cheap labor. That's to say, since they don't have money, they will likely do work that requires a higher pay and take a low pay as payment since they are, at some point, just after any payment that can just foot their bills for that day.

True, when people don't have high-paying skills, they can still do simple jobs (but with low salaries). Without people who take that kind of job, the economy would slow down or maybe the society would even crumble. If no one cleans streets, toilets, etc., it would be a disaster. Also, most people are poor at some point in their life, and they can escape poverty by continuously learning and working hard. In other words, it serves as competition and competition is good for the economy.

As another example, we can prove that not all the work of the poor can be done by the rich, and vice versa. Even if there are no poor people there are no so-called rich people. Apart from that all social status is only a status and will complement each other so that there is an economic cycle where the rich need the services of the poor to complete their projects. Without the position of the workforce, whatever the rich build will never be completed.

It's true, that's the fact, and I believe that this is all part of life,
God seems unfair to give a role to the poor but God knows better how to live a more balanced life,
what is clear as humans we need each other so never underestimate anyone.

in terms of economic strata, there are indeed the poor and there are the rich, because that is the nature of the creator, but many rich people are not happy, while the poor can be grateful for life so they always feel happy. Both of them have their own problems, so they actually have to help each other. many rich people feel jealous of the lives of poor people, for example they can gather with their families as a whole, where rich people are actually preoccupied with the activities of each family member so gathering with family is a very precious moment

[Woodie]

Unfortunately the people we usually consider as poor are usually the guys behind the scenes doing all the labouring  or the dirty work to get things running..and them being poor is not always that they aren't working or arent skillful, but because of low paying salaries because of cheap labour coming from growing unemployment!!

Either way, poor or not these guys do a great job contributing towards the growth of the economy one way or another, also depending on how the country does its taxation the rich could be the high contributors or its the same for everyone.

God seems unfair to give a role to the poor but God knows better how to live a more balanced life,

-snip-

what is clear as humans we need each other so never underestimate anyone

You are right on this one. In life, we all need each other to survive to some point; either directly or indirectly, we are all helping hands to one another. But some people still argue that there is no such thing and claim to be purely independent.

Agreed, it all comes down to everyone playing their part and contributing towards the economy,  though not everyone will agree to this because  they feel their governments do not give back to the people and are better off not paying a dime to the govt.

[Dr.Bitcoin_Strange]

What are you even saying, @OP?

I don't see anything wrong with the OP's question. Like you have already said, everyone has their own role in society, like the poor in the economic development of a nation. So the OP just wants to know the exact position of poor countries poor citizens in a nation.

I think some questions are not asked out of curiosity or maybe because the person wants to learn anything; some threads are just created for no real reason or maybe just to add to their post. I unlikely find it difficult to believe that the OP doesn't know the role of the poor in the economy, but well, let it slide. At least now he is aware.

 

What is the government of their country doing to help eradicate the poverty of those people?.

I always argue that poverty can't be completely eradicated in an entire nation; no matter how hard the government of a nation tries, they can only reduce the poverty rate of that country, but they can't eradicate poverty.
[/quote]


Yes, you are right. There are a lot of challenging factors that make people fail in the pursuit of wealth, and most people really tried their best with the little help they could get from the government too, but most times it wasn't enough for them. Also, some people end up misusing the opportunities they also get, either from the government or a private firm. I will give you an example of what I mean. In my country, there was this time (some years ago) when the government gave scholarships to some students of a university in my country for them to go out of the country to go and study on a project that could make them excellent when they return back to our country with the skill and education they have acquired, but truth be told, out of about 500 students, I think it was only a successful endeavor for about 50 students or less. Most of those students misused the opportunity, and today even some of them are just tuktuk drivers and motorcycle drivers in my country. In essence, the government can't really help everyone in society. The reason why I asked the question was because, in some country or society where quite a lot of people are very poor than the rich, the question will always be there: in what way has the government helped them?



Cheers 🥂, Dr.Bitcoin_Strange 👺👺

[teosanru]

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 think poor play one important role which is to make sure the socialistic schemes of the governments don't really stop. If it wasn't for the poor i highly doubt that there would be any schemes by government to distribute freebies, these things ensure equity in the economy I feel. Moreover poor in the economy also act as the necessary labour force required for the manual tasks in the economy ranging from construction industry to manufacturing industry.

[Fortify]

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.

It's a bit of a loaded and twisted question, nobody wants to be poor after all. It's not a role they play by choice but all sorts of factors can conspire against people which make it harder for them to earn a higher wage. They might be a "hostage" to family circumstances, they might not have been able to get the higher level of education they sought or they may simply live in an area with limited job opportunity and are unable to improve that situation. I think most people, give the right opportunities, would take steps to improve their earning potential in life - unfortunately it is not always that simple.

[imamusma]

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 think poor play one important role which is to make sure the socialistic schemes of the governments don't really stop. If it wasn't for the poor i highly doubt that there would be any schemes by government to distribute freebies, these things ensure equity in the economy I feel. Moreover poor in the economy also act as the necessary labour force required for the manual tasks in the economy ranging from construction industry to manufacturing industry.

I can imagine if a country no longer has poor people, then the country will only depend heavily on imported products and materials. Nobody wants to grow crops, rice, wheat, vegetables and many basic necessities have to be imported from other countries. And when a country is very dependent on other countries in the case above, then other problems will arise.

The poor are those who run the wheels of a country's economic life. The balance in many ways comes from them, they are needed, but the balance in numbers must also be observed. When this balance is reached, the wheels of a country's economy will also be balanced.

[Faisal2202]

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.

People living in poverty does not mean they are free of paying taxes. I know few developed countries provide the financial assistance to there most poor sectors and even they have progressive tax system (in which poor are provided with relaxtion in tax while the rich ones are highly burdened with taxes).

But most of the countries do not provide these facilities and yet they also have regressive tax Taxation system (in which poor and the rich both are equally burdened with taxes).

In both cases, poor contribute to economy by making goods and by providing there services while in regressive tax, poor also pay taxes like me, and thus it is considered as contribution to the economy. And i just talked about taxes, there are lot of best teachers, mechanics, Engineers, Doctors, etc. Who belonged to poor sector and now due to there hard work they are making money and some of them giving it back to community by different ways and many are contributing to economy with taxes, donations and by helping in development plans.