In the salad days of millennium, masses are confined to poverty line on economic scale. Increased consumption rates, declination in employment rate and over spending nature of human race could be the possible driving forces. some of the counter actions for those mentioned problems could be imposing taxes on expensive commodities, make availability of more jobs by respective authorities.
To commence with causative factors, firstly we have to consider notable increment in consumerism. Influence of social media and brands are compelling people to buy more and more. Even if they don’t need things , people has been following social media trends blindly. This could be dangerous ,if we didn’t switch to sustainable shopping .An perfect example for this is individuals falling for pitfalls made under the banner of ‘discount-sale’ by vivid brands. People are not able to balance their income and expense. Another pressing concern is surge in unemployability. A myriad of people has been graduating each year, still left without a job. Increase in population along with unemployability is a huge threat to human race. It makes a lot of people come below poverty line.
The tribulations can be well addressed by taking corrective measures such as imposing taxes. Revised taxes would make people think twice before making unnecessary purchases. Authorities over the globe can organize awareness campaigns among people to live sustainably and eco friendly. Another remedial action is providing donations to Nations that are economically backward. Government should be able to provide a lot more job opportunities for young citizens of country. Literacy rate of people also plays a crucial role in countries economical growth.
To conclude, even if a lion part of population have financial stability ,a part of the world is under poverty line. Streets and slums are still over populated with humans. Timely involvement of respective nation leaders can result in a remarkable change in people’s living standards.