Despite levels of wealth and development unparalleled in history, billions of people on our planet are still uneducated, poorly housed , sick, inadequately fed or even starving as a result of poverty. Is this a result of economic development, or can a rising tide of economic development give all humans a basic standard and dignity of life? In this essay, I will ask if economic progress is only for one group in our society.

It’s important to realize that economic activity alone is not enough to end poverty. In many poor countries, natural resources such as copper, oil or even land are being exploited by local or foreign companies but with little benefit for the local people. Nigeria’s oil wealth and Zimbabwe’s diamonds are examples where money leaves the country or does not help the majority. Secondly, economic activity can have devastating consequences on the environment . Dam projects in India or the clearing of the rainforest can mean local people lose land and livelihoods. Furthermore, multinational companies are not tied to any country. Businesses move overnight and outsource to find even cheaper labor or resources, leaving unemployed people behind them.

However, we can’t go back to a Stone-Age existence of barter and living in huts. More people than ever have access to electricity , clean water, good schools, and medicine than ever before. Clothes, electronic luxuries such as phones, televisions and computers are cheap. All these things have come about through business and trade. They have provided income for governments to improve the life of their people. Secondly, other systems have failed: when India and China opened their markets and allowed people to do business, millions of people were lifted out of poverty. And even in countries where companies pay low salaries or do not look after the environment, there are more opportunities for workers. What