Reviewed Date: November 23rd, 2021
The reason why we wouldn’t see successful entrepreneurs from poor backgrounds is that banks wouldn’t lend money to poor people. They are afraid that loans would go into default, leaving losses to banks.
Even if the poor were able to raise capital, it wouldn’t be much to start a big enterprise. With less capital, they start a small business that won’t pull them out of poverty. Moreover, these small businesses have less demand; in a month or two, businesses come to a stop.
What poor people need is a steady job that ensures proper health care, security of funds, and a moderate income to sustain them. But getting a steady job is near impossible for the poor because they wouldn’t even finish their schooling.
In developing nations, public school teachers have a high rate of absenteeism. Even if they attend schools, they wouldn’t put effort into teaching in a way that every child understands the concepts. They give up too soon on the assumption poor children are less intelligent.
This happens in private schools too but in a different form. Teachers select intelligent students and exert their energies to help them get better grades. But compared to public schools, private schools are good for poor children. Could poor parents afford to send their children to private schools?
As poor people have less awareness regarding contraceptives, poor households have more than 5 children. It is the mother who sacrifices for the betterment of a family. She would eat less to feed their children. But among children, it is the brightest one who would go to school, and his/her siblings would go to work in the nearest factory.
But siblings could be the brightest ones too. They need proper teaching, and we have to leave them to learn at their own pace. Sadly, as parents couldn’t afford fees, children ended up working and couldn’t escape the poverty trap.
This is an eye-opening book for me. I highly recommend this to everyone. It is written in such a way that anyone can understand.
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