Introduction
Today, poverty is a bigger threat to peace and stability around the world than terrorism and other highly debated conflicts. Sachs (2009) says that.More than eight million people die every year around the world because they are poor.
The Millennium Development Agenda is the world’s plan for making life better for everyone. Which wants to cut poverty in half by 2015. When it comes to achieving long-term economic growth, investing in human capital is key. Education is without a doubt one of the most important parts.
Education helps people become more self-aware, improves their quality of life, and makes them more productive and creative. Which motivates people to start their own businesses and improve technology. It is also important for social and economic progress, better income sharing, and keeping people out of poverty. The point of this article is to explain how education can help reduce poverty.
How important education is
Poverty and schooling can’t go together. Because schooling gives you knowledge and skills that help you earn more money. Poverty goes down as the level of education of the people goes up.
Education has a direct effect on reducing poverty by raising income or pay or both. When it comes to “human poverty,” education has a lot of indirect effects.Because it’s easier to take care of basic needs when living standards and wages go up because of schooling.There is no question that it reduces poverty around the world.
Human capital is seen as a way to beat poverty in both the Poverty Reduction Strategy Paper (PRSP) and the Millennium Development Goals (MDGs).Because of this, the idea that schooling affects poverty has been getting a lot of attention lately.
Education and health are the two most important and basic parts of human capital that help people to work and improve their standard of living.Human capital is important for getting the most out of physical and natural resources, technology, and skills.
Education can help stop people from being poor
Poverty makes it hard to get ahead financially.Education is one of the main goals of development economics, and reaching that goal is what drives growth.
Investing in education is the core of many programs that help people and help them grow (Todaro, 2011). Most of what drives this investment is the thought that everyone should have the same chances.With the information they get from school, people can fight against these kinds of wrongs.Education makes a person more productive and useful to the job.
Investing in schooling makes low-income households more productive and gives them more skills. Both the income level and the general standard of living (human progress) go up. Second, being poor is a big obstacle to doing well in school. Poverty has three different effects on how well kids do in school. Also, some harmful social practices and so-called religion ideas make it very hard for girls to go to school.
So, a lack of education is the cause of a person’s low earning ability, and poverty stays in a family even after several generations. Even the Poverty Reduction Strategy Papers (PRSPs) recommended by the World Bank and the Millennium Development Goals (MDGs) of the United Nations put a lot of stress on basic education for women.
