The Economics of Poverty

The video discusses the severe poverty in the Democratic Republic of the Congo (DRC), highlighting its historical context and the economic challenges it faces. It explains poverty using Maslow's hierarchy of needs and contrasts the DRC's resource extraction with more developed countries. The impact of foreign aid on the local economy is examined, and the potential benefits of the African Free Trade Zone are explored as a possible solution to the DRC's economic woes.

What is the nominal GDP per person in the Democratic Republic of the Congo?

What percentage of the population in the Democratic Republic of the Congo lives in absolute poverty?

What were the economic conditions of the Democratic Republic of the Congo prior to 1960?

What are some of the natural resources found in the Democratic Republic of the Congo?

How does the economic situation in the Democratic Republic of the Congo compare to that of the United States?

What are the fundamental needs of an economy as discussed in the text?

What is the significance of the African Free Trade Zone for the Democratic Republic of the Congo?