Examples of economic choices that prolong poverty and effectiveness of social networks in terms of accelerating the implementation of particular financial tools

The paper “ The World Bank’s View on the Roots and Consequences of Poverty” is a thoughtful example of an article on social science. The main argument of the article is that poverty is not just a deficit of money. Continuous daily difficult decisions related to poverty in use impose “ tax” on a person’s mental and social resources (The World Bank 80). Chapter 4 says this “ tax” can result in economic choices that prolong poverty. The article is coherent throughout its various sections, progressive, strategic, and generous with information. However, the article does often presume standard economic models while developing arguments and conclusions from its findings. The article ought to have included such changing aspects more cautiously into development policies.

Supporting ideas described in the article include accounts and examples of economic choices that prolong poverty (88). Through this article, the author delivers the idea that information is vital to those in poverty though it may be too complicated and too intellectually taxing to implement. Another alternative intervention is shifting poor people from their social settings to offer safeguards that help alleviate the impacts of external and destructive demands. The author delivers the effectiveness of social networks in terms of accelerating the implementation of particular financial tools like crop insurance or Microcredit. These solutions facilitate social connections and social learning that can raise incomes.

Reading through chapter four could possibly compel readers to raise alarms about the extremely prevalent role and praise of males as the heads of households. In addition, the article has the same essence as reports released by crowd psychology researchers because of the usage and exploration of terms and phenomena such as human unreliability or the primary presumption that the World Bank is always the best option. This similarity appears to result in a concentration on changes from previous reports instead of the changes necessary for progress in the stated regions.

The most important context highlighted by the author in chapter 4 is poverty and the analysis of the reason those in poverty might undertake activities that extensively prolong their living conditions (83). Financial solutions that reliably reserve savings for academic reasons can assist the same households when social demands leave insufficient resources for their head to implement for education. The article does not acknowledge the significance of power as a dynamic aspect of the prevalence of poverty and in molding society. Instead, the article tackles a progressing challenge head-on and technocratic it into a series of the most excellent practice instructions for minor adjustments and not major transformations.

The article obtains its information from a rich plethora of literature that proposes methods of identifying and dealing with mental and social limits to progress. The article further motivates a fresh exploration of the ways social and economic progress is carried out by summarizing three ideologies of human decision-making. The cases outlined in the article feature key regions of the world to allow for a holistic point of view of the current situation in terms of poverty, and devise ways to diagnose it. The article sets forth what the World Bank Group are the most crucial questions about behavioral economics. For instance, the article asks whether to streamlining the registration procedure for fiscal aid can increase participation by poor households.