According to a speech on creative capitalism by Bill Gates alongside other renowned businesspersons, the world goes through numerous financial crises. He talked about the danger of high leverage, which involved the dangers of high leverage and the unrealistic investment and financial models. Therefore, it is crucial to come up with sufficient solutions to the financial crisis that has led to high poverty levels. There are a number of companies that have come up with programs meant to alleviate poverty. For instance, there is the United Nations development program, which is an organization that has foreseen the promotion of sustainable human development. The organization should also minimize the rate of poverty in all dimensions.
One of the most significant ways of poverty reduction is coming up various economic approaches. This means that companies should come up with affordable services and products. There should also be a convenient distribution channel, which should best suit the consumer who is at the bottom of the pyramid. There should also be the creation of employment for the poor within these organizations since this would assist them in solving their social problems (Kinsley, 2008).
Conversely, there should be the citizenship approach of alleviating poverty. This should be done through private and public partnerships. Organizations should also come up with adequate community agencies, which would assist in the creation of jobs, educating the poor, as well as building capacity amongst people. It is in this category that the government should also be involved in poverty reduction. The government should get involved in different trainings and coming up with voluntary investment. There is also the activists’ approach of poverty reduction. There should be activists who fight for human rights. They should also try introducing different public policy changes.
References
Kinsley, M. E., Clarke, C., & Banerjee, A. V. (2008). Creative capitalism: a conversation with Bill Gates, Warren Buffett, and other economic leaders. New York: Simon & Schuster.
