Theories in economics

  Some theories in economics posit that poverty and inequality exist because of kinds of relationships between different groups in the economy (for example, the relationship between workers and capitalists, or the relationship between the Global North and the Global South). Other theories posit that poverty and plenty (and hence, inequality) don’t come from relationships between groups, but from the actions or circumstances of those who are poor and those who have plenty (i.e. savings and growth, industrial policy, geography). Describe in detail two distinct theories or mechanisms from each group, for four in total. Conclude with your own evaluation of these theories: how well do they explain the various dimensions of poverty and inequality in the world?