Most economic models for development stress the idea of decent work and decent incomes as the foundation of successful development. Unfortunately, most people live in a society that privileges money and does not value hard work. As a result, they are unable to see an alternative to trickle-down economics. Sadly, many people who experience poverty, do not have access to proper education or healthcare, and do not have a good job, are stuck in poverty for decades. Thus, decent work and economic growth problems exist.
The fact is that without having a decent income and decent work, you cannot achieve true economic growth. With a bad economy, there are no jobs and therefore everyone is struggling to survive. Without any form of income, life can become completely unaffordable. Therefore, even when something good does come along, it will be quickly grabbed by those who have money. This is the problem with trickle down economics.
Most economic textbooks will point out that the key to economic success is getting more of what people want at the lowest possible cost. In other words, everyone needs to be making money at all times. Since most people only see dollar signs whenever they look at the economy, they fail to see the connection between getting more money and decent work. In other words, the only way to develop real economic opportunities is to increase productivity by eliminating the causes of poverty and worklessness such as child labor, poor working conditions, poor wages, and lack of benefits. Otherwise, no one can make enough money to survive.
This is where education and development come into play. By ensuring that people get a good education and training, they can increase their productivity and make more money at the same time. For example, if the workforce has a high unemployment rate, it will take a lot longer to solve the problem through teaching. On the other hand, when a person has basic knowledge and training on how to do something, they can do it quickly and efficiently. By increasing education and training opportunities, companies can increase the number of decent jobs and employment, which in turn will, in turn, increase the standard of living.
Another way to improve the quality of life and decent work is through government intervention. Governments can provide good training programs and better conditions to businesses so that workers are not exploited. They can also help with the creation of infrastructure development through public works projects. When this is done, there will be an increase in demand for the good jobs as well as the necessary training to get them.
The best way to ensure economic growth and decent work is to use free-market capitalism. This means that the company should compete on its own merit and not on the government's demand. If the company produces goods that are better than what the government or other competitors produce, it will be able to survive. It only takes one company that produces something better than everyone else's to become number one, and then that will create economic growth.