The Prosperity Paradox
Since the mid-1960s, Asia has achieved remarkable economic growth and has seen hundreds of millions of people rise out of poverty. However the fact is, Asia is still some way away from completely eradicating poverty. At the end of 2020, there were still over 500 million people affected by poverty in Asia.
Poverty is typically looked at as a lack of resources. So it makes sense that to solve the poverty problem we push resources that a country lacks. For example, if a country lacks sufficient health care, clinics are pushed. If education is the missing resource then schools are pushed. But history suggests that this way of doing things, while well-intentioned, has simply not been successful.
But if the problem of poverty can’t simply be solved by an injection of passion and resources, then what to do instead?
To answer these questions and more, I speak to Efosa Ejoma, Global Prosperity Lead of the Christensen Institute, for his insights.