The United Kingdom and other developed nations in the West should change their economic models to address growing poverty in their nations, a political analyst in London says.
A recent report showing that more than four million children are living in poverty in the UK was a sign that Britain, the world’s fifth largest economy, has failed to balance the way money is generated in its economic cycle, Adam Garrie said in an interview with the Press TV on Tuesday.
“Obviously the report is very damning of the conditions, the economic conditions on the ground,” Garries said.
“The problem itself is symptomatic of the fact that while an economy can generate a lot of money, which is good thing, it actually falls short of going where it ought to go if you have that money not generating well across the social spectrum,” he added.
Garrie said the crisis that many wealthy countries like the UK are facing is that they haven’t developed new…