Cycle of Poverty

From Wikipedia, the free encyclopedia:

In economics and sociology, the cycle of poverty or the poverty cycle is a social phenomenon whereby poverty-stricken individuals exhibit a tendency to remain poor throughout their lifespan and in many cases across generations. The cycle of poverty has been described as a catch-22 and a feedback loop, as it occurs because the financial resources necessary to get out of poverty, namely productive capital, which some critics believe can only be obtained if the individual has financial resources in the first place. Some critics assume that the poverty-stricken find it extremely difficult to get out of poverty because they do not possess enough resources to invest in their own economic development. The cycle of poverty has roots in ancient times and feudalism. Serfs and peasants on a landlord's land often had to pay most of their crops in tribute to their lord as rent or taxes, and were only allowed to keep enough for bare subsistence. Unable to maintain any savings to invest in human or physical capital to improve their own productivity and therefore income, peasant families would remain poor for generations. Applied to countries, the poverty cycle is often called the development trap.

I often share the cycle of poverty to my student and the way out of it; education. The education system and scenario in Singapore is very conducive for all her people. So it is up to individuals to grab the chance to get out of the vicious cycle. Share that with your student too.. though it may not bring any sense to them now, but at least we share and do our little bit for our future generation.