Poverty is curse as far as developing and underdeveloped countries are concerned. Developed countries such as US are not faced with poverty as their population is provided well with material things, food, clothes and shelter. In fact, these countries enjoy luxuries rather than comforts.
Developing nations such as India and underdeveloped African nations face acute poverty. Some of these countries are over populated and are unable to feed their millions. Many people experience starvation and are malnourished.
Nations that experience poverty have fewer natural resources and even if they have they are unable to exploit them to the maximum. Much concern is expressed by world bodies such as United Nations, World Bank about the seriousness about the poverty levels in these backward nations.
How poverty affects a nation?
Why developed countries do not face poverty?
Developed countries have plenty of resources on hand. They are able to manage their industries well. They are able to provide sufficient food, clothing and shelter to their population. They have plenty of financial resources at their disposal to set up industries and experiment with new technology. People are well educated and are able to contribute to the economy in a positive way. They are not a burden, but an asset. The standard of living in these countries is very high.
Poverty is indeed a curse. Countries faced with this economic problem are also experiencing social problems. Poverty would mean more crimes, health problems.