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Yep, that's also because: "Earlier this year researchers at the London School of Economics released a paper titled, “Why Do People Stay Poor?” that illustrated
by kirso 5y ago
Yep, that's also because: "Earlier this year researchers at the London School of Economics released a paper titled, “Why Do People Stay Poor?” that illustrated how the lack of initial wealth (and not motivation or talent) is what keeps people in poverty. The researchers tested this by randomly allocating wealth (i.e. livestock) to female villagers in Bangladesh and then waited to see how that wealth transfer would affect their future finances. As their paper states:
[We] find that, if the program pushes individuals above a threshold level of initial assets, then they escape poverty, but, if it does not, they slide back into poverty…Our findings imply that large one-off transfers that enable people to take on more productive occupations can help alleviate persistent poverty.
Their paper clearly illustrates that many poor people stay poor not because of their talent/motivation, but because they are in low-paying jobs that they must work to survive."
More on this here: https://ofdollarsanddata.com/why-do-poor-people-stay-poor/ https://ofdollarsanddata.com/why-do-poor-people-stay-poor/
- ZhangSWEFAANG 5y agoThis is like the escape velocity of wealth.