Final answer:
The concept of selling to the world's poorest people to alleviate poverty is known as Bottom of the Pyramid. This strategy, along with education and market-oriented policies, aims to create economic development and a stable middle class, supporting the idea that poverty and inequality can be addressed within the capitalist system. Option C is correct.
Step-by-step explanation:
The concept that proposes that corporations can alleviate poverty and other social ills by selling to the world's poorest people is known as Bottom of the Pyramid (c). This approach is based on the idea that by targeting products and services to the large number of individuals at the lowest income levels, businesses can engage in profitable ventures that also benefit communities by providing affordable goods, improving quality of life, and potentially contributing to economic development.
Jeffrey Sachs, in his book 'The End of Poverty', and other economists argue that poverty and inequality can be tackled within the capitalist system through strategies such as technology development, investments in human capital through education, and creating stable macroeconomic environments. These strategies are considered pivotal for low-income countries to break out of the poverty trap and can lead to increases in both economic output and equality, thereby fostering a more diamond-shaped social structure with a robust middle class.
Moreover, policies that educate the workforce, along with market-oriented government policies, can pave the way for attracting foreign aid and investment. This, in turn, may lead to innovations and technological advancements that can propel middle-income and higher-income countries further along the path of economic growth and stability.