Education Can Really Help Eradicate Poverty

Poverty is the world’s greatest threat to peace and stability today, ahead of terrorism and other much-discussed struggles. According to Sachs (2009), more than eight million people around the world die each year because they are too poor to survive.

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Introduction

Poverty is the world’s greatest threat to peace and stability today, ahead of terrorism and other much-discussed struggles. According to Sachs (2009), more than eight million people around the world die each year because they are too poor to survive. The Millennium Development Agenda, which will reduce poverty by half by 2015, expresses the global commitment to guarantee the standard of living of humanity. Education is in all respects one of the fundamental factors to achieve sustainable economic development through investment in human capital. Education promotes self-understanding, improves quality of life, and increases people’s productivity and creativity, thus promoting entrepreneurship and technological progress. Furthermore, it plays a very important role in ensuring economic and social progress, improving income distribution, thus saving people from poverty. This article aims to contextualize the role of education in alleviating poverty.

Importance of Education

Education and poverty are inversely related. The higher the level of education of the population, the smaller the number of poor people, because education imparts knowledge and skills that contribute to higher wages. The direct effect of education in reducing poverty is through an increase in income / income or wages. The indirect effect of education on poverty is important in relation to “human poverty”, because as education improves income, basic needs become easier to satisfy and living standards rise, which without it certainly means a decrease in human poverty. In the Millennium Development Goals (MDGs) and the Poverty Reduction Strategy Paper (PRSP), human capital is seen as a weapon against poverty reduction. That is why the idea that education is a determinant of poverty has received a lot of attention in recent years.

People’s education and health are the necessary and important components of human capital that make them productive and raise their standard of living. Human capital is necessary for the effective use of physical and natural capital, technology, and skills.

Education Can Help Eradicate Poverty

Poverty is an obstacle on the road to economic development. The achievement of education, one of the main goals of development economics, is also a driving force behind such development. The backbone of many aid and development programs depends on investment in education (Todaro, 2011). The concept of equal opportunities drives much of this investment. Education gives the individual the knowledge necessary to overcome such inequalities. Obtaining an education increases an individual’s productivity and contribution to the workforce. Investments in education increase the skills and productivity of poor households. Both the income level and the general standard of living (human development) increase. Second, poverty is also a major barrier to educational achievement. Poverty affects educational performance in three dimensions. Furthermore, some unhelpful social norms and so-called religious doctrines ardently restrict girls’ education. Therefore, lack of education is a cause of a person’s low earning capacity and poverty persists even in the next generations of that household. Even the United Nations Millennium Development Goals (MDGs) and Poverty Reduction Strategy Papers (PRSPs) recommended by the World Bank focus primarily on girls’ and primary education.

Another notable aspect of the important role of education in reducing poverty is the direct linear relationship between education and income. In Pakistan, an individual worker’s monthly income has been found to increase by 7.3 percent with an additional year of schooling. Earnings will increase by 37 percent upon completing ten years of schooling rather than no education.

Human poverty and income poverty seem to go hand in hand. For example, some smallholder households are able to maintain a reasonable income until they become ill and vulnerable due to lack of effective access to health services, long distances, poor roads, or lack of local services. For others, dealing with the expected loss of farm income due to drought or flooding and seeking alternative crops to plant or additional livelihoods is their top priority.

Education and economic development Education provides a foundation for eradicating poverty and promoting economic development. It is the foundation on which a large part of the economic and social well-being of citizens is built. Education is key to increasing economic efficiency and social coherence, increasing the value and efficiency of the workforce and consequently lifting the poor out of poverty.

Education and family: The family is the basis of a good society and economic success. Families have changed over time, but they are still very important in the modern economy. To understand human capital, we must return to the family, because they are families that care about their children and try, by whatever means they have, to promote their children’s education and values. Families are the main promoters of values in any free society and even in not so free societies.

Conclusion

Education is essential for economic development and poverty reduction. Without education, economic development is not possible. A balanced education system not only promotes economic development, but also productivity, generating individual per capita income. Its influence is remarkable at the micro level of an individual family whose combination forms the nation. That is why we must all invest in education, because it can help eradicate poverty.

Unraveling the Essence of a Career

A career is often perceived as a linear path, but in reality, it’s a complex tapestry woven from our work-related contributions to society over a lifetime. It’s not just about the jobs we hold but also the unpaid roles, volunteer work, and the various positions we undertake, whether part-time or full-time. From being a student to a homemaker, or a professional in any field, every role plays a part in shaping our career. In today’s dynamic job market, career options are diverse, ranging from self-employment to organizational or project-based roles. Career development is a multifaceted process influenced by psychological, sociological, economic, physical, and chance factors. It’s about planning and strategizing, reflecting on one’s abilities and the work environment, and taking action to craft one’s life’s work. This development can occur in educational institutions, workplaces, and through personal experiences. The power to shape your career lies within, requiring self-reflection, resourcefulness, motivation, flexibility, and a commitment to maintaining relevant skills.

The Evolution of Career Development
The concept of a career has undergone significant transformation over the years. According to the U.S. Bureau of Labor Statistics, individuals born between 1957 and 1964 held an average of 12.3 jobs from ages 18 to 52. This indicates a shift from the traditional notion of a lifelong career with a single employer to a more dynamic career landscape with multiple job changes (U.S. Bureau of Labor Statistics).

In the past, career planning was often compared to a train journey, with a predetermined track leading to retirement. However, as Richard Knowdell suggested in the 1990s, it has evolved into an all-terrain vehicle ride, requiring individuals to navigate through an ever-changing terrain. The old metaphor of a career as a marriage has been replaced by the idea of a career as a series of dates or an amusement park with various rides, as discussed at a California Career Development Conference.

The ladder metaphor is now considered outdated, as career progression no longer implies a straightforward ascent within one organization. Instead, it’s likened to a maze with numerous directions and possibilities. My own analogy likens a career to a wardrobe, where different outfits represent various roles and jobs that change with personal growth and evolving interests. This approach emphasizes the need for adaptability and personal expression through work.

Navigating the Modern Career Landscape
In the modern world, planning and strategizing one’s career is an active and dynamic process. Individuals are encouraged to forge their unique paths, often stepping away from traditional routes. The future job market is unpredictable, with new roles and fields emerging that are currently unknown. This uncertainty underscores the importance of being flexible and open to new experiences while learning from each job, no matter how small.

Mark Twain’s words, “There is no security in life, only opportunity,” resonate with today’s career mindset. We must embrace our multifaceted talents and remain adaptable, using each job as a stepping stone towards future opportunities.

Michelle L. Casto is a whole life coach, speaker, and author dedicated to helping individuals discover bright ideas for their lives and empowering them to shine. For more insights or a free coaching session, visit Get Smart! Series and Brightlight Coaching.

Top Accredited Online MBA Programs in India: Your Path to Career Advancement

In today’s competitive job market, acquiring a Master of Business Administration (MBA) degree has become essential for professionals aiming to accelerate their careers. However, balancing work commitments and personal responsibilities can often pose a challenge for individuals seeking higher education. Fortunately, accredited online MBA programs offer a flexible solution, allowing aspiring professionals to pursue their academic goals without disrupting their current lifestyle.

If you’re considering enrolling in an online MBA program in India, you’re in luck. The country boasts several prestigious educational institutions that offer accredited online MBA programs tailored to meet the diverse needs of working professionals. To help you make an informed decision, we’ve compiled a list of some of the best-accredited online MBA programs in India.

Indian Institute of Management (IIM) Ahmedabad – ePGP: Renowned for its excellence in management education, IIM Ahmedabad offers an Executive Post Graduate Program (ePGP) designed for working professionals. This online MBA program provides participants with a comprehensive understanding of business management concepts through interactive online sessions and experiential learning opportunities.
Indian School of Business (ISB) – PGPMAX: The Post Graduate Program in Management for Senior Executives (PGPMAX) offered by ISB is specifically crafted for experienced professionals with over ten years of work experience. This online MBA program emphasizes leadership development, strategic thinking, and global perspective, preparing participants for top leadership roles in the corporate world.
Symbiosis Centre for Distance Learning (SCDL) – Online MBA: SCDL’s Online MBA program is accredited by the Distance Education Bureau (DEB) and offers specializations in areas such as Marketing, Finance, Human Resource Management, and Operations. The flexible online learning platform enables students to access course materials, lectures, and assignments at their convenience, making it an ideal choice for working professionals.
IGNOU – MBA (Master of Business Administration): The Indira Gandhi National Open University (IGNOU) offers a distance learning MBA program accredited by the University Grants Commission (UGC). With a focus on practical skills and industry-relevant knowledge, IGNOU’s MBA program equips students with the tools and expertise needed to excel in today’s dynamic business environment.
NMIMS Global Access School for Continuing Education (NGA-SCE) – Online MBA: NMIMS offers an Online MBA program accredited by the Distance Education Accreditation Commission (DEAC), USA. The program’s curriculum is designed to foster critical thinking, problem-solving, and leadership skills, empowering students to drive innovation and organizational growth.
Amity University Online – MBA: Amity University’s Online MBA program is recognized by the University Grants Commission (UGC) and offers specializations in areas such as Finance, Marketing, Human Resource Management, and Operations. The program combines rigorous academic coursework with practical industry insights, preparing students for leadership roles in various sectors.
XLRI Jamshedpur – Virtual Interactive Learning (VIL) Program: XLRI’s Virtual Interactive Learning (VIL) Program offers a unique blend of online and classroom learning experiences, enabling working professionals to pursue an MBA without compromising on their job commitments. The program’s comprehensive curriculum covers various business domains, including Finance, Marketing, and Strategy.
Whether you’re looking to advance your career, switch industries, or enhance your managerial skills, pursuing an accredited online MBA program from a reputable institution can open up a world of opportunities. With the flexibility of online learning and the prestige of renowned educational institutes, these programs offer the perfect combination of convenience and quality education for aspiring business leaders in India. Take the first step towards achieving your career goals today!