Both the income level and the general standard of living (human development) increase. Second, poverty is also a major barrier to acim 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.
