The countries in the world are divided into two categories which are developed countries and developing countries. Developed countries are those countries, which are financially stable and which have a whole successful industrial and economic system. On the other hand, developing countries are such countries, which are not fully stable and can be regarded as economically weak. Developing countries are in a phase of development while developed countries have the best resources and economic condition. Developed countries have high GDP rate or Gross Domestic Product rate and are able to facilitate their citizens with high income per capita (Barr, 2004). The countries, United States, United Kingdom, Canada, New Zealand, Germany, Japan, Australia, France, Sweden, Italy and many other are regarded are developed countries of the world as they are economically powerful and have established and developed an industrial system (Barr, 2004).
These countries and many others are categorized as developed on the basis of improvements and developments related to living conditions in these countries. It is said that people are able to get their needs fulfilled along with their wishes and desires with the help of the incomes that they get (Smeeding, et, al., 1990).
The developed countries also facilitate the developing countries with aid that are given in terms of financial support to keep control over poverty and living conditions (Smeeding, et, al., 1990). The developed countries in the world are considered as less poverty-stricken as compared to developing countries, as they are financially sound to fulfill the requirements of their people. However, it is noticed that all the measures that are taken to improve the conditions of poverty in developed countries are not fully successful in eradicating the helplessness of the poor.
Moreover, it is informed that financial aids that are given for the eradication of poverty do not end it but increases its manifold (Bradley, et, al., 2003). Analysts have informed that the poverty rate that was quite high a decade before has decreased to a great extent, people are able to get the necessitated (Kenworthy, 1999).
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