The History of Poverty

 In 1948, the newly-formed World Bank declared anyone with a per capita annual income below $100 as “poor,” and as if by fiat, over three-quarters of humanity became “impoverished” in an instant. But poverty has existed for centuries. The reason this declaration was remarkable was because this was the first time a global “minimum standard” for wealth had been established, which inevitably ranked nations on a scale ranging from less to more developed. This global problem of poverty called for new and innovative global solutions, and was the moment of the birth of "International Development”—the idea that “developed” nations ought to have a vested interest in the reduction of global poverty and in the economic development of other nations. The reality of this global project, however, has been markedly different from this promise. International Development, supercharged by the Cold War, became a weapon for toppling regimes, making covert war, and cornering new markets. It propped up military dictatorships in Asia, Africa and Latin America, armed religious extremists in Central Asia and the Middle East, created oligarchies, and compelled poor, often newly-independent nations, to exploit their natural resources in order to benefit private global firms. Using readings drawn from history, economics, political science and development studies, this elective course looks at the history of the modern period when humanity has tried to fix the problem of poverty, to understand what has worked and what hasn’t, and why. 

3 credits

 

Course Code: SS 362

  • Founded by inventor, industrialist and philanthropist Peter Cooper in 1859, The Cooper Union for the Advancement of Science and Art offers education in art, architecture and engineering, as well as courses in the humanities and social sciences.

  • “My feelings, my desires, my hopes, embrace humanity throughout the world,” Peter Cooper proclaimed in a speech in 1853. He looked forward to a time when, “knowledge shall cover the earth as waters cover the great deep.”

  • From its beginnings, Cooper Union was a unique institution, dedicated to founder Peter Cooper's proposition that education is the key not only to personal prosperity but to civic virtue and harmony.

  • Peter Cooper wanted his graduates to acquire the technical mastery and entrepreneurial skills, enrich their intellects and spark their creativity, and develop a sense of social justice that would translate into action.