Attempts to resolve poverty and to grant economic justice has been the aim of planning ever since Charles Booth’s studies in London have shown it as a bane to the urbanscape. Planners have oscillated between objectives of eliminating poverty from the neighborhood and eliminating poverty from the people; both of which claim to achieve common ends through very different means. The former merely shifts the problem elsewhere and the latter puts the concerns of the people often in lieu of the economic process.
However one common strand has been to throw money at solving poverty, the logic being isn’t poverty defined as the lack of monetary resources so more of money would be good, right? On the contrary such methods have not only failed to make a dent in the larger issue of poverty but have often compounded the problem. Neoclassical economists will believe in letting the people choose what they want by giving them financial means to do so and if they fail to alleviate their problem, central planners will say, see we told you they cannot make the best decisions for themselves but we have to make it for them. Thus goes the struggle in trying to resolve poverty and only more money gets thrown at a problem that isn’t even close to being solved. The poverty issue has once again found its place in the limelight thanks to John Edward’s Two Americas presidential campaign.
However contrary to the popular opinion, poverty is more of a sociological problem than an economic or political one. But approaches to solve it from a social perspective by first trying to understand its underlying causes have often found lacking. I don’t propose to offer a silver bullet solution for poverty alleviation in this article (if I had one, wouldn’t I be running for President?) but rather shed some light on recent attempts especially at MIT and other top universities in trying to understand the problem and work toward finding a solution.