Poverty by Gavin

Poverty by Gavin - May 2025 Scholarship Essay

If I had an unlimited supply of time and money, I would use what I learned in school to address wealth inequality and poverty. However, the most important step before taking on that responsibility would be to continue gathering knowledge so I can make the most informed and beneficial decisions. How one goes about alleviating poverty—when it’s so deeply ingrained in the system—can have detrimental consequences if not handled appropriately.

With unlimited time and money comes a great deal of responsibility that cannot be glossed over, and it seems to me it’d be much easier to abuse such resources. Diligence and discipline are required to ensure that any resources spent further the objective in a sustainable and ultimately beneficial way. To this end, finding ways to involve responsible individuals is essential, if only to hold myself accountable and prevent mishandling my resources.

A common pitfall for those with unlimited resources, I believe, is the tendency to rush and complete things as quickly as possible. This isn’t amoral by any means. It stems from a desire to reduce suffering as the sooner it’s done, the better. However, unforeseen and unpredictable issues can arise from taking action too quickly. The most important aspect of any plan is to anticipate that it might fail and leave room for error. This takes a great deal of time, consideration, and flexibility. Fortunately, with unlimited time, it's important to resist the urge to move too quickly.

For example, when I mentioned addressing poverty and wealth inequality, the first thought that likely came to mind was simply distributing my unlimited money to those in need. While this is tempting—and my refusal to do so may upset some people, it’s important not to leap at the most obvious solution simply because it appears correct. We must ask: what are the potential pitfalls and traps we might encounter? Even before addressing logistical questions—such as how to distribute the money, and in what amounts.

One concern is that carelessly flooding the market with money could lead to excessive spending, which drives inflation and devalues the currency. When all the money is spent, even more will be needed the next time. This increased demand for currency might seem solvable by simply supplying more money, but anyone familiar with post–World War I Germany, or any case of hyperinflation, knows this is not a viable solution. Eventually, inherent friction will prevent me from keeping up with a merry-go-round spinning ever faster. This situation inherently makes people dependent solely on me for money, which is problematic. The further one goes down the rabbit hole, the uglier the externalities become.

In short, that kind of power carries significant influence. I would like to invest in trustworthy institutions that can help build wealth in poorer communities. I feel this could be a viable avenue for relieving inequalities in the long term, though I’m sure even more unprecedented flaws and shortcomings could arise.

The idea of unlimited resources is exciting, but powerful forces can have sway in both directions, good and bad. While the knowledge I gathered in school is certainly useful and will be needed, I’d argue that humility, and the appreciation and collaboration of others—is just as important.