Economic Development is a diverse field that deals with both macroeconomic and microeconomic phenomena. The idea behind economic development is for incomes to rise. As a result of such a broad goal, experiences in this field can vary widely from research activities to hands on experience in the field. The challenge for the future of economic development is to develop new and innovative solutions and to add constant critique to already existing plans. Poverty is a complex issue that requires tireless effort as many plans fail to deliver the kind of development that is expected. Differing ideologies and perspectives make cultural issues even more important, and these differences can become burdensome in the fight to end poverty. Hence, innovation and strategic cooperation are big keys to the future success of economic development and will have to be embraced in order for poverty to be eliminated.