Poverty Eradication with Multi-Criteria Decision Making
Updated: Jan 22, 2021
Fall 2020 was the start of my thesis development for my graduate studies. In that time I decided to focus my research on building a decision making model for poverty eradication from economic development. I then animated a short video briefly describing the idea.
Since the establishment of the United Nations Sustainable Development Goals (SDGs), economic development initiatives have become more commonly used to address poverty eradication. ED strategies emphasize job creation and increasing the tax base through the attraction of large businesses. Unfortunately, these approaches have typically been designed without considering systemic poverty or social ills and fail to holistically and objectively address community concerns. More recently, communities have emphasized that wealth creation and community expansion must also advance sustainability, quality of life and social equity. Given that resources and expertise already constrain governments, there a clear gap between importance and capacity to track and report these matters accurately. Multi-Criteria Decision Making (MCDM) has emerged as a viable tool for addressing the gap. MCDM models are computerized tools that provide decision-makers access to objective evaluation and practical alternatives. MCDM enables independent development techniques, advanced strategies and improved stakeholder engagement.