Ateneo Professor on Entrepreneurship
Repost from Newsmax health | July 28, 2013
It used to be that in ADB, one of the multilateral agencies where US is a stakeholder look down upon Asia as center of poverty. 40% Asians are on poverty line and living. But now Americans are witness to elusive American dream and poverty facing them daily, according to data of Associated Press.
Four of out of 5 Americans face joblessness, reliance on welfare and deteriorating economic security. The cause? Globalized economy (outsourcing, BPO, offshoring) incresed competitition, widening gap between rich and poor, loss of good paying manufacturing jobs to overseas factories.
There are roughly 46.2 million Americans who are poor. Where are they?
Industrialized Midwest, Appalachians, Great Plains.
By 2030, 85% of Americans will face economic insecurity.
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