In what ways have the people living in poverty impacted in the economy?
Share your ideas on the importance of the poor masses in economy sustainability.
Imo, the economic hero in a country is in the sector of micro, small and medium enterprises (MSMEs). the majority of whom are the poor and it is they who are saving the economy during an economic crisis. Even though during a NON CRISIS they are not something that can be relied on, because they are not the biggest taxpayers.
I think we can only give more appreciation to micro, small and medium business economic actors. If a country has succeeded in collecting MSME taxes. if indeed MSMEs contribute 62% of GDP. This means that the tax revenue must be 62% of MSMEs as well. Even though now many countries are still lame in this regard, if this inequality is resolved then we can believe that MSMEs can support a country, MSMEs can contribute to the country's economy while it is still growing. So in conclusion the role of the poor for economic growth actually exists, even though it is not visible. This is not to mention when we talk about the agricultural sector.