How can business help solve poverty?

Answer 1

The first and probably most obvious way is by giving people jobs. It is an oft cited statement that the quickest way out of poverty is to be employed. Less obvious ways are by delivering goods more and more efficiently (and thus at cheaper prices. read: Wal-Mart) and by inventing new goods.

Wal-Mart is a prime example of businesses helping poverty simply by means of doing business (Someone is bound to complain that Wal-Mart hates poor people. Save it, I'm merely using Wal-Mart as an easy example). Wal-Mart's business model is having goods at the lowest possible price. This allows poor people to purchase goods they would not be able to have at higher prices. It keeps inflation down, which is very good for the poor.

The invention of new goods drive the cost of other goods down. For instance, if a cheaper substitute for milk was invented, more people would buy that, thus providing profit for the company that invented it. And businesses exist for profit, so there is incentive to find cheaper ways of doing things.

Answer 2

Hire.