Can an economy grow while the average citizen becomes poorer

[Zaka1221]

What's your take on this?

Economic growth does not always translate into better and improved living standards for ordinary citizens. Sometimes the economy grows, whereas the average citizens become poor. Countries can attract foreign investment; they can record impressive GDP growth and build advanced and new technologies but their citizens and ordinary people are struggling with the rising prices of rent, food, healthcare and transportation.
The problem is how the benefits of that growth are being distributed among people. Not every financial struggle is related to the economy alone. Investment, personal decisions, excessive amount of borrowing money and lack of financial discipline can also contribute toward the financial instability of a person. But we cannot ignore people who are making responsible decisions; they are working really hard and still struggling because they cannot keep up with the increasing prices of things. Economic growth and ordinary people are struggling; then that growth means very little to them.

[Lida93]

The level of suffering in underdeveloped countries would be consider as politicide in developed countries. I believe that most poor people in developed countries won't survive a week if they were poor in a developed countries.
Some countries are so poor that the government can't afford to pay civil servants salaries, execute projects let alone create jobs for its people. If you take Dr Congo for instance, the government can't afford to give people a good life because they aren't generating enough revenues, so majority of people there is expected to be extremely poor.

Into the reality of what I know to be, there's no particularly poor country in actual sense but just countries with politicians that are with immeasurable appetite for looting and embezzling of public wealth to their personal riches.  Every country is naturally endowed with one resource to another which can be managed by the government create and distribute wealth evenly in a country thereby suppressing all indication of suffering and growing poverty among her people. But what has become the norm now is the reverse of this conditions and these countries are taken to be poor countries. 

The DR Congo you mentioned as an instance is actually sitting on mineral resources worth over trillions of USD but still regarded as one of the poorest countries in the world for the reason I mentioned up. This is a clear picture of the conditions I try to explain up there among these countries designated as poor.

[348Judah]

An economy can't function when the average citizens are becoming poorer; instead, they should take advantage of their condition and try to work hard to join the economy for their own sustainability. This will create room for them to be able to participate in every sector of interest in the economy and contribute their own quota. Active participation is one of the key ways in which everyone can discover their own potential and contribute to the growth of the economy altogether.

[Roseline492]

To me i feel the financial stability of a country has little contribution to the welfare of a citizen, though there might be some positive outcome about that concerning job opportunities and all that, but I just have this feeling that someone can be in a developing country and also still be getting into debt and still get poorer.

What's your take on this?

You could say this to some countries but not all because there are most rich and developed countries who always use there financial resources to help those who are disabled and also those who are struggling, even in health care most countries government devoted their service in making sure that everybody has a good medical care whenever needed so actually on this case we wouldn't say they're not contributing immensely on their citizen welfare. You are right being on a develop country doesn't mean we cannot see people who are suffering because they have a lot but although not all their condition was because of what there country made them but however it was because of the life they choose.

[cxtreenal]

To me i feel the financial stability of a country has little contribution to the welfare of a citizen, though there might be some positive outcome about that concerning job opportunities and all that, but I just have this feeling that someone can be in a developing country and also still be getting into debt and still get poorer. It might be due to some wrong choices or some wrong investments but not everyone would always be rich or would I say not everyone must be successful, I don't know if I'll say it's the rule of life as a whole, but it's something that's common. Some can even get the chance of hitting it big for a lifetime and still fumble the chance maybe due to unforseen circumstances or some misplaced priorities. Meanwhile some actually don't have the chance to make it big ever.

What's your take on this?

The financial stability of a country is beneficial for its citizens. If the citizens are not able to work, the financial stability of the country will not be of any benefit. The citizens of many poor countries do not get any support from the government, yet they live a financially comfortable life only through their own efforts. Despite the existence of employment opportunities in a developed country, many citizens live a lazy life which is why they become poor.
It is the responsibility of the government to develop citizens as ideal citizens. A country does not become prosperous only if it is financially stable, the direct participation of citizens is important. The law and order situation has to be managed properly and the citizens have to be taught patriotism, only then they work for the welfare of the country and are responsible for themselves and their families and achieve financial progress.

[Rengga Jati]

To me i feel the financial stability of a country has little contribution to the welfare of a citizen, though there might be some positive outcome about that concerning job opportunities and all that, but I just have this feeling that someone can be in a developing country and also still be getting into debt and still get poorer.

Sometimes, certain government create indicators of their citizens' prosperity that do not align with reality. This is because they naturally the government want to be seen as successful in bringing prosperity to their people, by inflating these metrics. In truth, however, the situation is quite different. The actual conditions within society are far more complex. Yet they remain largely underreported.

Bad timing and sheer bad luck are real, like you said. But when millions of individuals are getting poorer at once, this problem, while personal, is also systemic. It has more to do with distribution than bad choices. Distribution is the result of conscious policies regarding taxes, wages, and who qualifies for cheap loans.

When poverty levels rise simultaneously with an increase in the prices of basic necessities, while minimum wages fail to keep pace, it is clear that something is wrong. Moreover, if this is further exacerbated by inflation. Not only do the poor become even poorer. But many businesses are forced to shut down. This indicates a far more complex problem. Potentially rooted in the system itself or in the way the government implements its various policies.

[SUPERSAIAN]

The answer is already clear in your question. Naturally, someone trying to swim against the tide is bound to fail. Well, perhaps I shouldn’t be so harsh or negative but it is extremely difficult. In trade, as in many other fields, there are plenty of opportunities, and it is possible to have the wind at your back however, in the current economic climate, success is something only a very small percentage can achieve.

Still, it’s not impossible think it through carefully, and I hope you get good results. What else can I say?

[Kelward]

There will always be the poor in every country no matter how developed the economy is, you cannot expect everybody to be rich otherwise who will do the labor intensive jobs, likewise there are very rich people in poor countries where the economy is poor. A country's GDP is not enough to assume that every average citizens in the country is living according to the standards, we have to consider individual contributions and earnings in the economy, gap between the rich and the poor says a lot about the average standards of living.

If you live in a country with a progressive economy that has provided basic amenities and structures for it's citizens to become very comfortable and you're still living in poverty you cannot blame your economy for your poverty, you simply have to take advantage of opportunities available for you to make money and better your personal economy. I suppose that an economy that is growing rapidly their average citizens should be living comfortably except for lazy people who expects government to do everything for them.

[BlackHatCoiner]

There is no "economy". People often use terms like "economy", "society", "nation" and forget these are abstract groupings that mean nothing on themselves. It is no coincidence that these are the favorite words of politicians, journalists and intellectuals.

If the economy "is growing", what does it mean exactly? If it is not the average person getting richer in real terms, what else would it be? And how useful is it as an average, considering there may be ultra-rich people who lift the average up, while the poor stay broke?

Always avoid using these words.

[SDS11]

To me i feel the financial stability of a country has little contribution to the welfare of a citizen, though there might be some positive outcome about that concerning job opportunities and all that, but I just have this feeling that someone can be in a developing country and also still be getting into debt and still get poorer. It might be due to some wrong choices or some wrong investments but not everyone would always be rich or would I say not everyone must be successful, I don't know if I'll say it's the rule of life as a whole, but it's something that's common. Some can even get the chance of hitting it big for a lifetime and still fumble the chance maybe due to unforseen circumstances or some misplaced priorities. Meanwhile some actually don't have the chance to make it big ever.

What's your take on this?

A stable economy helps, but it does not automatically make everyone okay. It can bring more jobs and opportunities, but your personal financial life still depends on your own choices, discipline and priorities. That's why you see someone in America still in debt, and someone in Nigeria doing very well. Country gives you the environment, but what you do inside that environment is what matters most.

And like you said, life is not balanced. Some people get big opportunities and waste it, some never get any opportunity at all. That is just how life is. Not everyone will be rich, but everyone can still be better than where they are if they manage what they have well. So yes, financial stability of a country matters, but personal financial stability matters even more.

[Xackie]

There will always be the poor in every country no matter how developed the economy is, you cannot expect everybody to be rich otherwise who will do the labor intensive jobs, likewise there are very rich people in poor countries where the economy is poor. A country's GDP is not enough to assume that every average citizens in the country is living according to the standards, we have to consider individual contributions and earnings in the economy, gap between the rich and the poor says a lot about the average standards of living.

If you live in a country with a progressive economy that has provided basic amenities and structures for it's citizens to become very comfortable and you're still living in poverty you cannot blame your economy for your poverty, you simply have to take advantage of opportunities available for you to make money and better your personal economy. I suppose that an economy that is growing rapidly their average citizens should be living comfortably except for lazy people who expects government to do everything for them.

Whenever I see that the GDP of a country is growing, I will say that the rich are only getting richer. Most of the GDP growth  are mostly driven  based on the wealthu folks, their businesses and higher revenues. These businesses contribute significantly to the country's GDP, but we don't see its effect on the  ordinary people.The poor doesn't contribute anything huge to its growth. Even if the government where to provide the basic amenities and structures to the citizens (the average /poor ones) .

They could still be in that condition if the minimum wages is low and there's high standard of living. What's even the point of having a growing economy when the averages are always finding it difficult to afford things. Maybe there could be a huge difference if the government also try to increases their workers minimum wages while the economy is growing but that might not also be enough. We still need more employment opportunities, better working conditions and good  policies that allow small businesses to grow. If not most of the wealth generated will keep circulating among the people who have money already.

[Gentle_Soul]

To me i feel the financial stability of a country has little contribution to the welfare of a citizen, though there might be some positive outcome about that concerning job opportunities and all that, but I just have this feeling that someone can be in a developing country and also still be getting into debt and still get poorer. It might be due to some wrong choices or some wrong investments but not everyone would always be rich or would I say not everyone must be successful, I don't know if I'll say it's the rule of life as a whole, but it's something that's common. Some can even get the chance of hitting it big for a lifetime and still fumble the chance maybe due to unforseen circumstances or some misplaced priorities. Meanwhile some actually don't have the chance to make it big ever.

What's your take on this?

Where a country where everything seems to be working out perfectly fine on the economy I think it is certain that the level of suffering and poverty will be at the reduced rate because definitely when everything is working the average citizens will definitely be employed and  working to earn a living so it will definitely be at a reduced rate, the level of poverty and suffering will be lower.
So from your caption if you ask me I will say for a system where the economy is working and everything is intact the citizens can never become poorer but rather it will savage the situation and reduce the rate of poverty.

[Cryptomultiplier]

There will always be the poor in every country no matter how developed the economy is, you cannot expect everybody to be rich otherwise who will do the labor intensive jobs, likewise there are very rich people in poor countries where the economy is poor. A country's GDP is not enough to assume that every average citizens in the country is living according to the standards, we have to consider individual contributions and earnings in the economy, gap between the rich and the poor says a lot about the average standards of living.

If you live in a country with a progressive economy that has provided basic amenities and structures for it's citizens to become very comfortable and you're still living in poverty you cannot blame your economy for your poverty, you simply have to take advantage of opportunities available for you to make money and better your personal economy. I suppose that an economy that is growing rapidly their average citizens should be living comfortably except for lazy people who expects government to do everything for them.

Whenever I see that the GDP of a country is growing, I will say that the rich are only getting richer. Most of the GDP growth  are mostly driven  based on the wealthu folks, their businesses and higher revenues. These businesses contribute significantly to the country's GDP, but we don't see its effect on the  ordinary people.The poor doesn't contribute anything huge to its growth. Even if the government where to provide the basic amenities and structures to the citizens (the average /poor ones) .

They could still be in that condition if the minimum wages is low and there's high standard of living. What's even the point of having a growing economy when the averages are always finding it difficult to afford things. Maybe there could be a huge difference if the government also try to increases their workers minimum wages while the economy is growing but that might not also be enough. We still need more employment opportunities, better working conditions and good  policies that allow small businesses to grow. If not most of the wealth generated will keep circulating among the people who have money already.

Using GDP to measure economic growth is quite flawed from my perspective and that's why it's better to use metrics like median income, real wages that is earned against the current cost of food items and housing, knowing the wealth distribution from the top class to the bottom class.

So GDP is insufficient because it doesn't tell the well being of the citizens but it tells more about the macro economic situation of the country.

[Vaskiy]

It happens and this is happening in my country. My country have one billionaire within the top 100 billionaire list. Along with that India have 229 billionaires and stands third after USA and China in terms of billionaire count. The economy of the individual billionaire have grown and this gives an better growth rate to the country as a whole. But in reality the growth of the citizens haven't gotten better as the wealth is getting accumulated and not getting diversified. This year the situation is even worse and inflation have hit the economy harder. Economy of a country grows as governments were also working for corporates and not for the citizens of the country.

[oll]

To me i feel the financial stability of a country has little contribution to the welfare of a citizen, though there might be some positive outcome about that concerning job opportunities and all that, but I just have this feeling that someone can be in a developing country and also still be getting into debt and still get poorer. It might be due to some wrong choices or some wrong investments but not everyone would always be rich or would I say not everyone must be successful, I don't know if I'll say it's the rule of life as a whole, but it's something that's common. Some can even get the chance of hitting it big for a lifetime and still fumble the chance maybe due to unforseen circumstances or some misplaced priorities. Meanwhile some actually don't have the chance to make it big ever.

What's your take on this?

Personally, I'm also completely confused about the "good life." For example, let's look at two people from different countries: one earns a small salary but always hangs out by the beach, living in a small but nice house. He can't go on vacation anywhere, but does he really need to? The ocean is nearby. The other guy lives in a big city and makes a lot of money. But he sees traffic jams and the subway every day. So, he has a big salary, and he can sometimes travel anywhere in the world and buy expensive things. But apartments are also expensive in this city.
So tell me, which of these guys is happier? It's a complex question and there's no definitive answer. It depends on personal qualities such as ambition and a desire to be at peace in your comfort zone.

[Queen Julie]

Yes, an economy can grow while the average citizen becomes poorer. Businesses might be making more money and production might be increasing, but average people could still be struggling with inflation, low salaries and the rising cost of living.

I also think poor decisions and misplaced priorities play a roles. Economic growth should be translate into better jobs, better salaries and an improved standard of living.

[Bityar]

What's your take on this?

I think we should not judge a country economic growth by GDP like any country progress real benefit is when its common man also live a better life and is financially strong Like the development of people means that the the country is also developed and making buildings starting new projects expanding businesses is not real success for a country. A real success for a country is when a common family should easily fulfill and overlook to his children education or house rent and other daily necessities. The most important is that government should take that decisions which makes life easier for ordinary people and people’s income should also increase with their expenses

[Findingnemo]

Even in the richest or most developed country, the majority of the population will live in the middle-class range and atleast there will be 10% of fewer people will be living in the poorer condition and we can't blame the government for that.

Individuals need to work to increase their financial situation and a government can only give the opportunities and ideal conditions for that.

[Justbillywitt]

How do you even say a country is economically growing when the financial stability of the citizens are stuffled, before you will say an economy is growing the average person in that society needs to be living a stable financial life, and this is why we calculate financial stability of most countries in respect to their GDP per capita, because the individual growth of a country is very essential. The country's financial minister cannot be quoting figures of financial growth while people are living in mystery.

It is very possible for a country to be growing in GDP, while the population remains poor. You want to know how? The elite class that have the big business in the country can be making profits and expanding their business to other countries, while the people in their country working for them are not making enough money. They can employ a small percentage of the people, but they won’t pay them well. They will work to grow the business but what they will be getting as wages won’t be enough to make them improve in their finances. They can’t also leave the jobs because they don’t have another options elsewhere. They can’t even start their own businesses because they don’t have enough capital to do that.

[WillyAp]

It is very possible for a country to be growing in GDP, while the population remains poor. You want to know how? The elite class that have the big business in the country can be making profits and expanding their business to other countries, while the people in their country working for them are not making enough money. They can employ a small percentage of the people, but they won’t pay them well. They will work to grow the business but what they will be getting as wages won’t be enough to make them improve in their finances. They can’t also leave the jobs because they don’t have another options elsewhere. They can’t even start their own businesses because they don’t have enough capital to do that.

Top Comment.

That way i debate with AI whenever I find the time.
Ask AI to compare purchasing powers 1950 vs 2020 to 2026. To be specific, how much could a kid buy for a Dollar in 1950 vs 2020 to 2026.
AI just fetches the 1st few pages from Search engines. So their 1st opinion si a platitude gist of the SERP searched.   

An economy is kids, women and men, they form, clubs, firms, factories. But all starts with people.