By the 20th century the research of Charles Booth and Seebohm Rowntree had brought theissue of poverty firmly into the public consciousness. This in turn encouraged new thinkingabout the economic rationale for reducing penury. The classical school believed that thereal constraint on growth was aggregate savings. Given that the rich saved more than thepoor, this implied that less poverty would mean lower growth. John Maynard Keynesdisputed this view, arguing that it was aggregate consumption that mattered, in which casereducing poverty could actually aid growth. But it was not until the 1990s that a coherenttheoretical framework emerged to show how high levels of poverty stifled investment andinnovation. For example, several models showed how unequal access to credit meant thatthe poor were less able to invest in their own education or businesses than was optimal,leading to lower growth for the economy as a whole. Scholars buttressed the theory withempirical evidence that high initial levels of poverty reduced subsequent growth indeveloping countries.

　　20世纪，查尔斯?布斯和希波姆?朗特里将贫困问题深深地刻入了公众的意识之中。这一举动反过来鼓励了人们对减少贫困的经济原理有了全新思考。古典学派相信真正制约经济增长的是总储蓄量。由于富人比穷人储蓄的多，这表明贫困人数越少就意味着经济增长率越低。约翰?梅纳德?凯恩斯驳斥了这一观点，他认为总消费量起到了至关重要的作用，在这种情况下，减少贫困实际上能够有助于增长。但是直到1990年代，一个统一的理论框架才出现，表明高水平的贫困如何限制了投资和创新。比如说，有些经济学模型表明获得信贷的机会不均等是如何导致穷人比优秀的人更无力于投资自身的教育或是生意，进而导致整个社会的经济增长处于较低的水平。学者们用无可辩驳的证据给为之一理论提供了支持：在发展中国家，初始的高水平贫困率降低了该国后继的经济增长。

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