According to Schiller, there are two methods of reducing global poverty. 1) Redistribution of Incomes across nations or 2) Economic growth (Schiller, 2010). Review Rostow’s Stages of Development (Schiller, 2010, pg. 458) and study the stages nations pass through during economic development.
Identify a specific nation that is currently suffering from extreme or severe poverty and answer the following questions on the discussion forum.
- What steps should the government of that nation take to move along these stages of development? Specifically address fiscal, monetary and trade policy, and legal issues.
- What is the role of the US (citizens and government) in reducing global poverty?
- Share something you learned in your Week 7 written assignment (GDP Growth and Supply Side Policy) that could be applied to this nation.