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Income transfers were developed as a part of Lyndon B. Johnson’s war on poverty. Define income transfers. How should traditional income transfers eliminate incidence of poverty? Does it work? Explain.
When answering the question, please consider the following point:It is very significant to acknowledge the importance of the traditional income transfers. Of course, there are always those who abuse the system. At the same time, those who would depend on income transfers may not have gotten the opportunity to easily be employed, and earn adequate income. In order to ameliorate the situation, there can be some training programs to be made available together with the fund (income transfers). In other words, those identified individuals can be given salable skills in order to easily be absorbed in the labor market. What do you think?
Explanation & Answer
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Income transfers are basically one way payments to individuals for which no service,
good or money is exchanged (Barrientos & Hulme, 2016). They are usually made in form of
social benefit programs like old age pensions and unemployment compensation to help in the
establishment of a minimal living standard. This is government’s own way of...
