Every year on 17th October we celebrate the international day for the Eradication Of Poverty. We all believe that the particular objective for ending extreme poverty is quality education. Education can help in getting all of the global goals as well. The UN has committed to the 2030 agenda which is about sustainable development. In that agenda, they documented that it is the global challenge to eradicate poverty in all its dimensions and forms including extreme poverty. Education is also an indispensable requirement for sustainable development.
Globalization and technological advancements are the factors that are changing the nature of the global economy considerably. Therefore it is important that everybody in the world has skills that are helpful in succeeding. According to some estimates, it is believed that by 2030, up to two billion today’s posts are at the possibility of being replaced by automation.
The Learning Generation Report by the Education Commission and UNESCO Global Education Monitoring Report prove that education has a great impact on a person’s economic growth and earnings.
Education Reduces Poverty:
It is believed that if all the children leave school with basic reading skill, it can help lift 171 million people out of extreme poverty. It is equal to a twelve percent drop in the world total. Learning improvements provided by the Education Commission can also help reduce absolute poverty by thirty percent.
Education Increases Individuals Earnings:
Education can provide a person with many opportunities to earn more. Education can also increase individual earnings by roughly ten percent per each extra year of schooling. For each one dollar invested in an extra year of schooling earnings boost by 2.5 dollars in lower-middle income countries and five dollars in low-income countries.
Education Decreases Economic Inequalities:
If all the workers from rich and poor background receive the same education, it can also help reduce poverty. The inequality between the two in working poverty could reduce by thirty-nine percent.
Education Promotes Economic Growth:
The Educational Attainment (the highest level of education completed) clarifies about half of the difference in growth rates between Sub-Saharan Africa and East Asia between the years 1965 and 2010. In the year 2050, the GDP per capita in the lower-income countries would be almost seventy percent low than it’d be if all kids were learning. Boosting tertiary attainment by a year on average would add to sub-Saharan Africa’s lasting GDP by sixteen percent.
Education Helps Save The Planet:
But how education can help save the planet? Well here’s how!
The overall environment change and the resulting decreased agricultural output and augmented frequency of natural disasters could cast as many as one hundred and twenty-two million individuals into poverty by 2030. The making of green industries will depend on educated, high-skilled workers. Agriculture contributes 1/3 of all conservatory gas releases. Primary & secondary education can offer future cultivators with the critical acquaintance about sustainability challenges they can face in agriculture.