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Stem Cells Fight Hunger Meat is everywhere in modern-day life, found at food trucks, the local grocer and luxurious restaurants alike. As ubiquitous as conventional meat seems, lab-based stem cell techniques continue to show promise in developing alternative sources of protein for the world’s carnivores. Along with plant-based substitutes, these cell-based alternatives are an innovation that seeks to reduce the known consequences of mass meat consumption. Perhaps one day, society may see stem cells fight hunger on a global scale.

Traditionally Sourced Meat

Meat, in all potential forms, is essential because of the proteins and nutrients it contains. This is particularly true for lower-income families. Due to its availability in many regions, meat serves a vital role in composing people’s diets. In fact, a 2018 article observes that “Both the global average per capita consumption of meat and the total amount of meat consumed are rising, driven by increasing average individual incomes and by population growth.” Thus, meat is a valuable resource due to the nourishment and food security that it can provide. Yet, the livestock requirements for an exponentially growing human population are significant.

The Rising Consumption of Resources

As of the last decade, 92% of all the freshwater that humanity consumes goes toward agriculture. About 33% of that is used for animal products. Not only do cattle, poultry and other livestock need water to drink, but their plant-based food sources need large amounts of water to grow. At the same time, the land devoted to supporting livestock raised for consumption takes up nearly 80% of all available agricultural land. Barring any major change, animal farming will likely continue to be extremely resource-intensive. This poses problems in a world that constantly demands more.

Memphis Meats

One company that recognizes the global need for sustainable meat is pursuing a new avenue of development: using stem cells to fight hunger. Memphis Meats, a startup founded in 2015, has received capital from investors like Bill Gates and Richard Branson. The company focuses on growing stem cells as meat alternatives. Pre-selected animal stem cells, when grown in Memphis Meats’ cultivators, can turn into real meat. While the company is still refining and enhancing its process, it shows promise.

Furthermore, the company has raised $161 million after its most recent call for investment. These funds will go toward further development and a new production facility. According to the Memphis Meats website, “At scale, our process will create less waste while dramatically reducing greenhouse gas emissions.” Memphis Meats therefore reaffirms that despite the potential problems of the animal agriculture current system, practical, sustainable business solutions do exist. Their work provides the possibility that stem cells could fight hunger in the near future.

A Look into the Crystal Ball

As concerns over livestock and agriculture stack up alongside concern over feeding a population of billions, these priorities may conflict. Easy answers are rarely easy to find. However, cell-based meat could provide an entirely new, sustainable source of food. At the same time, it could allow for a large-scale change in the management of the Earth’s land and water. Growing investments in this startup industry can also be a powerful force for change on a large scale.

Moreover, meat made from growing stem cells carries with it the potential to allow for important reallocations of currently available protein sources. This could one day substantially increase the international food supply while keeping it environmentally and socially conscious. It may sound farfetched that stem cells could fight hunger, but the necessity of a solution and initiatives like Memphis Meats suggest that this idea is not so far-off.

Alan Mathew
Photo: Unsplash

'Developed' and 'Developing'While the categories of ‘developed’ and ‘developing’ to describe countries may have been useful in the 1960s, Bill Gates and Hans Rosling—author of the book “Factfulness”—have begun using a new categorical system; four distinct income levels are now recognized as a more accurate way to describe countries and the range between them.

‘Developed’ and ‘Developing’ Countries

The terms ‘developed’ and ‘developing’ have become almost universal terms to describe the economy or wealth of countries. However, there is not one specific definition for these terms. Organizations such as the United Nations use the terms colloquially. However, they never introduced a specific, measurable definition for what actually classifies whether a country is developed or still developing.

In the 1960s, the terms were mostly based on infant mortality and birth rates. Developed countries had lower mortality and birth rates while developing countries had higher infant mortality and birth rates.

But ‘developed’ and “developing” have become outdated in this way, as just about every country in the world has improved infant mortality rates since the 1960s. In fact, some ‘developing’ countries of today have lower infant mortality rates than ‘developed’ countries in 1960.

Overall, the two terms are incapable of separating countries beyond ‘rich’ and ‘poor.’ This is a problem because the majority of people in most countries live somewhere in the middle. In fact, one can label 85% of countries as ‘developed.’ Meanwhile, 15% are in between and one can consider only 6% as “developing” in terms of fertility and mortality rates. That is why Hans Rosling uses four income levels to describe all countries instead.

The Four Income Levels

  • Level One: The majority of people live in extreme poverty on a daily income of $2 or less per day. Countries such as Lesotho and Madagascar are currently level one countries. For many people in level one, the main mode of transportation is walking. Some may not even have their own pair of shoes to travel in. In these countries, infant mortality, hunger and preventable disease prevalence are high. Approximately 1 billion people live at this level.
  • Level Two: People in countries such as China, Nigeria and Bangladesh generally live on $2 to $8 per day. They may ride a bicycle instead of walking, and they have their own pair of shoes. An estimated 2 billion people live at level two, which is more than any other level.
  • Level Three: In countries such as Egypt, Rwanda and the Philippines, about 2 billion people live on $8 to $32 per day. Transportation may include electric bikes, scooters, public transportation and cars. About 2 billion people live at level three.
  • Level Four: The wealthiest countries make up level four. The average person having an income of more than $32 per day. There is a large market for nice cars and houses. Simple necessities like clean water and nutritional food are widely available. The United States, Mexico, much of Europe and South Africa are some examples of countries at this income level.

This four-tiered system does not completely account for the variations within countries, but it provides more information than the previous terms. For example, some people living in level one countries are significantly richer than the $2 per day average, and many people living in level four countries experience poverty.

However, organizing countries in this way allows for a more accurate measure of progress. Bill Gates has argued that “It’s hard to pick up on progress if you divide the world into rich countries and poor countries. When those are the only two options, you’re more likely to think anyone who doesn’t have a certain quality of life is ‘poor.’” It is important to properly track global progress and development. We can then use the information to understand where further action must be taken.

A New Official Classification

It is difficult to distinguish between various countries with only two terms. The World Economic Forum stopped using the terms ‘developed’ and ‘developing’ in official reports. Instead, it has used a similar four-tiered categorization since 2016. The World Economic Forum states that it will now collect data “for the whole world, for regions, and for income groups – but not for the ‘developing world’ (or the sum of low and middle income).” Similarly, in 2016, the World Bank released a working paper looking into classifying countries by income as well.

According to Bill Gates, “Any categorization that lumps together China and the Democratic Republic of Congo is too broad to be useful.” Using these levels in data analysis creates a better understanding of variations between countries and their incomes.

Sydney Bazilian
Photo: Unsplash

Gates Foundation Poverty China
Former Microsoft CEO Bill Gates and his wife, Melinda, have used their private organization, The Bill and Melinda Gates Foundation, to aid China in its goal to eradicate poverty by 2020. Meanwhile, China has had several issues that have contributed to its problems with poverty, including its transition to becoming a more urbanized country back in 2012. The urban population has risen to 52 percent, which is more than the rural population at 48 percent. People continue to move into urban sections of the country in search of better-paying jobs. This becomes a problem as poverty increases as people end up taking underpaying jobs while the cost of living also goes up. Another problem was that 170,000 students attended school in 2010 in Shanghai, while more than three times that amount worked on farms in that same city.

The Game Plan

The Gates Foundation Poverty China project launched a campaign called Goalkeepers to help quicken the process towards ending not only poverty but also inequality and injustice. This coincides with helping achieve the United Nations Sustainable Development Goals, which include gaining quality education, clean water and sanitation, along with universal health care for all.

Despite the issues that a more urbanized China has, it has produced positive results during the past 70 years by lifting over 850 million people out of poverty over a span of 40 years. Meanwhile, others have developed their own plans to get themselves out of poverty by using business sense. One example is when a local Shibadong farmer named Shi Quanhou worked his way out of poverty by running an agritainment farm. Agritainment is a compound word for farms that include both agriculture and entertainment. These farms might include pumpkin patches, petting zoos and corn mazes, among other attractions for a family-friendly atmosphere. Although one cannot say this about other farmers, Quanhou underwent this plan in a desperate measure to help him provide a more secure and prosperous life for his family. Farmers have also found a 12.1 percent increase in their income by transitioning their farms to agritainment farms.

China’s Success

Furthermore, assigned teams have gone to farms and villages to investigate how those areas are performing, making sure that those with struggling land receive assistance. China has also promoted poverty alleviation, which includes e-commerce and providing employment opportunities for over 2.5 million people. It also originated more than 30,000 poverty reduction workshops and classes in order for attendees to gain employment close to home.

With many people still underprivileged, The Gates Foundation Poverty China project also offered its support during this stretch with three solutions that incorporate working with government agencies, advocating for financial services, health care and childhood nutrition. The organization also added a partnership with the State Council Leading Group Office of Poverty Alleviation and Development to research how to remedy these issues through experience within China and also between China and other countries. Establishing stronger platforms that encourage participation in the relief efforts to end poverty has also been part of its long term plan. The Gates Foundation Poverty China is closing in on completing what could very well be the largest turnaround of this global issue in the world’s history.

Helping Health

The Gates Foundation Poverty China plan includes a $33 million grant to combat tuberculosis to the Chinese Ministry of Health. This partnership intends to better detect tuberculosis cases and find a cure for those suffering from it. With over 1.5 million cases each year, this partnership is providing innovative tests, along with patient monitoring strategies to deliver improved treatment and diagnoses across the country.

Additionally, China has developed a plan to decrease TB by creating The Chinese Infectious and Endemic Disease Control Project (IEDC) back in 1991. The World Bank partly funded $58 million to it and the World Health Organization developed it in 1989. The IEDC was a booming success, curing 85 percent of identified patients within two years of its implementation. TB cases decreased by over 36 percent between 1990 and 2000, about 4.1 percent each year.

Infinite Improvement

People have widely recognized China for its dramatic improvement. U.N. Secretary-General Antonio Guterres pointed out that China has contributed the most to its cause over the last decade. This turnaround means that the livelihoods of many will boost China’s economy and build a more prosperous nation. With that plan in motion, China has almost eradicated rural poverty by refocusing on areas where the poorest live in places with poor infrastructure and have special needs. China went from a staggering 97.5 percent in 1978 to a meager 3.1 percent among the rural population at the end of 2017. With 2020 already underway, President Xi Jinping has informed the Chinese people that anyone in an impoverished state should receive medical benefits, such as insurance, aid and allowances. With the Gates Foundation Poverty China plan and China’s campaigns and multiple partnerships with local governments, China’s ability to avert its national catastrophe will not only gain global attention from other suffering countries or have more fortunate nations lend a hand, but will be able to lend help of its own.

Tom Cintula
Photo: Flickr

 

transportation impacts poverty
Transportation impacts global poverty in ways that are both obvious and subtle. If the job market is centered in an urban area and potential workers live in a distant, rural area, their immediate survival depends on access to transportation. On a larger scale, the ability for a developing country to transcend poverty and become productive and prosperous depends a great deal on the transportation systems that are implemented with the help of foreign aid. This article analyzes five ways transportation impacts global poverty.

Five Ways Transportation Impacts Global Poverty

  1. Rural isolation arguably deserves its own list of ways transportation impacts global poverty because it has so many consequences that perpetuate continued destitution. For example, farmers in isolated rural environments often fail to reach their economic potential because they cannot easily access marketplaces that offer seeds, fertilizers and other tools for agricultural success.
  2. Other casualties of rural isolation are the elderly or otherwise infirm. Healthcare services are usually in centralized urban locations. Even if the poor and sick or even the old, pregnant or injured can afford the costs associated with health services, they are often unable to get to where the providers are if they live in rural communities. World Bank has helped to address this in developing regions of India, Georgia and Vietnam by subsidizing travel costs and making health professionals available in more remote areas.
  3. Investing in basic infrastructure is often one of the most significant ways in which transportation impacts global poverty. The building of roads, trails and bridges creates greater accessibility even for those who can only travel on foot. Jobs are created to facilitate these developments, and there are often new modes of public transportation implemented to make use of newly created roads or railroad tracks. This helps to minimize the travel time between rural and urban regions. Bill Gates asserts that while domestic resources can and should be utilized for infrastructure investment, global aid is a critical component as well. An investment in a developing country ultimately benefits the entire world, including the wealthiest nations.
  4. It stands to reason that the more easily a population can access educational facilities, the more educated that population is likely to be. People living more than an hour’s walk from the main road in Papua New Guinea were shown to be experiencing twice as much poverty as those living closer to the road. Building new roads and providing greater access to transportation resulted in an increase in education enrollment and literacy as well as an overall decrease in poverty.
  5. A theory known as “spatial mismatch” describes a phenomenon in which those who can easily pay for transportation, whether by automobile or public means, move away from congested urban regions. This creates a problem for the poor because the market often follows the wealthy as do the jobs. In developing countries, this is especially problematic since it feeds a cycle of poverty in which cheap housing options are only available in areas where there are few amenities, poor transportation options and limited jobs.

Writer Wilfred Owen asserts, “Continuing global prosperity is contingent on the very large volume of trade with developing countries and on the foreign investment opportunities they provide.” This will not be feasible without a short-term investment in the infrastructure and transportation systems of those developing countries. While the governments of the developing nations play a vital role in upgrading transportation options in their countries, foreign aid must also play a part. As this article shows, transportation impacts global poverty; therefore, it is not a simple matter of charity but rather a wise investment in our global future.

Raquel Ramos
Photo: Flickr

Gates Plans to Eradicate Malaria

Bill Gates is currently the second richest person in the world, with a net worth of $95 billion. But he also has a reputation for humanitarianism. As one of the world’s leading philanthropists, Gates is widely considered to be the most prominent humanitarian public figure. Together, he and his wife established The Bill and Melinda Gates Foundation, a private, charitable foundation that globally combats poverty and enhances healthcare. Now, Gates plans to eradicate malaria by 2040.

What is Malaria?

Malaria is a disease caused by a parasite, commonly transmitted to humans through the bites of infected mosquitoes. While malaria occurs in roughly 100 countries, it is most common in tropical and subtropical regions. To this end, the disease is common in regions of sub-Saharan Africa and South Asia. Upon contracting malaria, a person will exhibit symptoms resembling the flu. And if left untreated, malaria can be fatal. However, this is largely preventable.

According to the World Health Organization, there were 207 million cases of malaria reported in 2012. Approximately 627,000 of these cases resulted in death. Significantly, roughly 90 percent of these estimated deaths occurred in sub-Saharan Africa and 77 percent in children under 5 years of age. Given these statistics, the mortality rate of malaria is incredibly slight, at around 0.003 percent. Therefore, malaria does not have to result in death and, moreover, may be prevented entirely. And as Gates plans to eradicate malaria, this possibility may soon become reality.

What’s the Plan?

At the Malaria Summit London 2018, the Gates Foundation pledged to invest $1 billion through 2023 to end malaria. To date, the Gates Foundation has committed $1.6 billion to the Global Fund to Fight AIDS, Tuberculosis and Malaria. Additionally, it has committed almost $2 billion in grants to eradicate the disease. At the summit, Gates states, “It’s a disease that is preventable, treatable and ultimately beatable, but progress against malaria is not inevitable. We hope today marks a turning point against the disease.”

Malaria is not a mystery anymore. Cures and vaccinations already exist to combat the disease. There is a solution, it simply needs funding. Between 2000 and 2012, malaria incidence rates declined 25 percent globally. By establishing protocol, proper resources can render malaria a manageable issue. While this is no small order, Gates plans to eradicate malaria and has the capability to fund it. Undoubtedly, this will leave an indelible, positive mark on the fight for better healthcare and war against global poverty.

Lacy Rab
Photo: Flickr

Notable Humanitarians
Improving the world is no small task. It can take great amounts of resources and effort to drive global change. And even with the proper tools, global change can still seem like a distant vision rather than a reality. Usually, this is where the thought process ends. Inspiring change is too daunting a task for most people. But not for everyone.

Notable humanitarians show the world a different way of thinking. They see the complex problems of the world and begin to push towards a solution. In doing so, they set an example for everybody else. So who are these notable humanitarians?

Three Notable Humanitarians

  1. Bill GatesThe Microsoft co-founder knows about humanitarianism. In 1994, Gates and his wife Melinda began a decades-long mission to improve the world, founding what would become the Bill and Melinda Gates Foundation. The organization is a strong force for global health, development and policy advocacy. Since its founding, the organization has contributed billions of dollars towards global issues. This money has funded many global initiatives, especially relating to health and education. The foundation cites continuous collaboration with partners as a key to being effective.Gates has made humanitarianism his sole focus. In 2014, he stepped down from his chairman position at Microsoft to concentrate on the foundation.The Lesson: Improving the world requires everybody working together.
  2. Kristine PearsonAfter doing research in parts of rural Africa, Kristine Pearson noticed a problem. Despite the spread of community radio stations, many people still did not have radio access.  Much of this was because of issues with electricity coverage. Armed with this knowledge, Pearson set out to make a change. That change came in the form of wind-up and solar-powered radios. Given the energy poverty suffered by many in rural Africa, this was a perfect fit. Using this technology, Pearson has been able to spread radio access to more than half a million people. For those that otherwise would be unable to afford this access, Pearson is a hero.When she founded her charity, Lifeline Energy, in 1999, Pearson became a catalyst for change. She was able to help combat poverty through radio. With access to radio broadcasts, rural Africans are better equipped to deal with emergencies, and their day-to-day lives benefit as well. Educational content, news and weather broadcasts are all useful for rural citizens. Pearson made these benefits attainable for many through her notable humanitarian work.The Lesson: Social entrepreneurship can improve quality of life in developing countries.
  3. Norman BorlaugNobel Peace Prize winner Norman Borlaug is the definition of a notable humanitarian. Borlaug developed a wheat cultivation method that increased crop yields in Mexico. His background in agronomy allowed him to create innovative ideas for the country. Mexico faced complex agriculture problems, and Borlaug’s work was a breath of fresh air.After his original work in Mexico, Borlaug took his methods across the world. His work throughout the 1940s and 1950s created what was later called the “green revolution”. Because of his methods, several countries were able to rise out of famine. In fact, by the end of his career, Dr. Borlaug had saved more than a billion people from starvation.The Lesson: Reducing global poverty requires innovative thinking.

Being a humanitarian can take many forms. Creating a charity, spreading radio access and increasing crop yields are just a few of the numerous ways to help others. As seen from the stories of these three notable humanitarians, they can be very effective. Whatever the method, the end goal is the same: to make the world better.

– Robert Stephen

Photo: Flickr

global healthSince 1983, J.P. Morgan has hosted an annual healthcare conference to unite industry leaders, fast-companies, innovative technology creators and people willing to invest in these technologies. Though the company is known for being a global leader in financial services, J.P. Morgan has made global health a priority by donating nearly $200 million a year to nonprofits globally, leading volunteer services and using its access to capital to help local communities suffering from poverty.

J.P. Morgan has made the following its core values:

  1. Corporate responsibility
  2. Health initiatives
  3. Strengthening communities
  4. Environmental sustainability

In January 2018, Bill Gates made an appearance at the annual J.P. Morgan Healthcare Conference to discuss his thoughts. At the conference, Gates’ speech discussed recent progress in global health and what else still needs to be done. Initially, he pointed out how global health has been the focus of his foundation, the Bill and Melinda Gates Foundation, for the last eight years. He explained how child mortality has decreased by 50 percent and credited new vaccines to reducing deaths due to rotavirus, pneumonia and malaria.

Afterwards, he expressed the need for more innovation, explaining how funding research is the most elementary step in improving global health. He mentioned the current gap between the tools that are currently available to eliminate stubborn diseases and poverty and the tools that are needed, explaining that the only solution is innovation. He emphasized how “the tools and discoveries companies are working on can also lead to breakthrough solutions that save millions of lives in the world’s poorest countries.”

He concluded his speech by emphasizing the need for more research into preterm births, as they account for half of newborn deaths. It has also become clear that a child’s nutrition and the microbiome in their stomach, or rather the interactions between the two, are the largest factor in determining the child’s survival rate. The best solution to this is ensuring that children have the proper ratio of microbes in their stomach, a problem Gates and his partners have started to tackle.

Gates and his foundation have always made global health a priority. They work with partners globally to improve the following five program areas:

  1. Global health, which focuses on developing new tools to reduce the spread of infectious diseases such as tuberculosis, pneumonia, malaria and HIV.
  2. Global development, which aims to finance the delivery of high-impact solutions, providing people with healthy, productive lives.
  3. Global policy and advocacy, which promotes public policies and builds alliances with the government, the public and the private sectors.
  4. Global growth and opportunity, which works to break down economic barriers in an effort to lift people out of poverty.
  5. U.S. programs, which focuses on ensuring all students graduate from high school and have the opportunity to go to college.

Thanks to Bill Gates, his foundation and the J.P. Morgan healthcare conference, investors and advancements will continue to increase, alleviating the burden of global poverty and improving global health.

– Chylene Babb

Photo: Flickr

Why USAID Is Important and EssentialWhen the topic of foreign aid comes up it is common to see headlines such as “USAID brings relief to Haitians after the occurrence of Hurricane Matthew,” but what exactly is this acronym? USAID is a government-funded agency that works to make the lives of millions of people easier.

There are many reasons as to why USAID is important and essential. USAID stands for the United States Agency for International Development. Working side by side with the military, USAID uses its resources to encourage countries to resolve conflict and end violence, working to lessen the need to send soldiers to dangerous areas.

Not only does it help end conflict, but USAID also helps elevate the roles of women and girls, provides assistance in the event of a disaster, invests in agricultural productivity to help food production in other countries, promotes human rights, combats diseases and more.

One of the greatest things that USAID’s work contributes to is the ending of extreme poverty. USAID has come up with a plan entitled “Vision for Ending Global Poverty,” which recognizes what needs to be done in order to fix the commonalities that each country has that causes them to struggle with poverty.

Despite common misconceptions, USAID does more than contribute to countries outside the U.S. Not only is USAID beneficial to those struggling in other countries, but it is also a benefit to the U.S. as well.

In a recent interview, Bill Gates explains the dangers of cutting USAID by explaining that foreign aid projects keep the U.S. safe. “By promoting health, security and economic opportunity, they stabilize vulnerable parts of the world,” says Gates, promoting the truth that helping others is of benefit not only to them but to America as well.

He continues explaining that USAID helps to stop major diseases such as HIV and AIDS, create more U.S. jobs and protects military members. The money goes to contractors, companies and volunteer organizations, all going towards promoting each country’s own financial well-being. Out of USAID’s top recipients in 2011, Pakistan received $343,698,200, Haiti $133,601,639, and Indonesia $17,848,628.

Keeping in mind that USAID’s proposed budget for 2018 is $15.4 billion, the United States Agency for International Development is distributing its funds in ways that help those who need it the most.

This is what USAID is and why USAID is important and essential to the alleviation of global poverty. U.S. involvement in foreign aid is not only saving the lives of those who live in developing and impoverished countries, but it is also saving and bettering the lives of Americans and American soldiers.

Noel McDavid
Photo: Flickr

Gates Foundation
This year, as part of his annual pledge to eventually contribute 500 million shares of the Berkshire Hathaway Inc to the Melinda and Bill Gates Foundation, Warren Buffett recently donated nearly $2.2 billion worth of class B stocks in support of improving global health and embarking on a new challenge to assist U.S. education.

In 2010, Bill Gates and Warren Buffett created the Giving Pledge, which rallied the world’s billionaires to donate at least half of their fortunes to charity. Since the pledge has been put into place, 154 affluent individuals have made the oath.

Gates acknowledges the possibility of failure in some projects, but remains optimistic, stating “we not only accept that [projects will fail] we expect it—because we think an essential role of philanthropy is to make bets on promising solutions that governments and businesses can’t afford to make.”

Bill and Melinda Gates are both optimistic about the future of the Foundation, which is aimed at alleviating extreme poverty and poor health in developing countries in addition to improving the failure of America’s education system.

According to a SEC document filed on Thursday, July 13, 2015, Buffett donated 14,968,423 shares of Class B Common Stock valued at $145.93 per share to the Bill and Melinda Gates Foundation. Buffett also donated 1,047,785 shares of Class B Common Stock to foundations owned by his three children: the Sherwood Foundation, the Howard G. Buffett Foundation and the NoVo Foundation.

Warren Buffett believes philanthropy is associated with taking risks and remains steadfast and patient whenever Berkshire investments bear no fruit. “If you succeed in everything you’re doing in charity, you’re attempting things that are too easy,” Warren Buffett declared in 2011.

The philanthropist also donated $215 million worth of stocks to the Susan Thompson Buffett Foundation, which is named after his late wife. The main objective of the Susan Thompson Buffett foundation is to provide scholarships for eligible recipients within the Nebraska region on a competitive basis.

Buffett has vowed to give away 99 percent of his wealth in support of charitable causes and innovative solutions to end global poverty. After over 10 years of donating to the Gates foundation as well as other nonprofit organizations, Buffett’s fortune is now estimated at approximately $65.6 billion.

Buffett’s recent donation to the Melinda and Bill Gates Foundation, when added to the other donations made over his lifetime, brings his total donations to more than $28.5 billion.

Shanique Wright

Photo: Finance Buzz

Donations from billionaires
According to the Brookings Institute, in some developing nations the help of the richest billionaire in the country would be enough to drastically reduce poverty. This model is based on the respective billionaire donating at least half of their fortune.

For example, the generosity of just one billionaire would probably be enough to boost the economy of the tiny African country of Swaziland. If this model were applied in Swaziland, Colombia and Georgia, poverty within these struggling countries would be nearly eradicated.

It is worth noting that this ideology would not work in the same way in every country. While the poverty rate will always fall with donations from billionaires, the amount would vary. Some countries in Africa may be harder to impact significantly due to “the depth of poverty” and high prices on the continent.

The Brookings Institute model not only looks at potential donations from the richest billionaire in a country, but in places with multiple billionaires they could collaborate and work together to reduce poverty. The more donations from billionaires that are received, the more people who will rise above the global poverty line.

Bill Gates’ Giving Pledge, which encourages billionaires to give away much of their earnings to charity, follows a similar model. Facebook creator Mark Zuckerberg also pledged to donate 99 percent of his income to poverty reducing efforts and other charitable campaigns.

In addition to donating, billionaires may also be wise to invest in poor nations, as a boost in the economy of the country would likely cause a major increase in the number of consumers of foreign goods and services. Stronger economies result in an increased number of markets.

If billionaires around the world chip in to boost their local economies, the global wealth gap will decrease as the amount of consumption.

Carrie Robinson

Photo: Flickr