When the United Nations committed to the 2030 agenda for promoting sustainable development, they came to know that eliminating poverty in all its dimensions and forms which included extreme poverty is the biggest global challenge of the countries these days. With the large number of countries which are still below the poverty level, the lawmakers are all wondering about how they can eradicate poverty so that more and more people can live a peaceful life.
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If you take a look at the ideologies of Yadezra, the leading Jewish charity in Israel, you will get to know about their inspiring principles on how they are helping the masses who are in poverty and sharing food, clothing and shelter with them. Before we move on to that, let’s take a look at how education can eradicate poverty.
#1: Education can reduce poverty altogether
It has been researched and found that if all children left their school with the basic skills of reading and writing, around 172 million people could be lifted from poverty. This is almost equal to a 14% drop in the total of the entire world. Extreme poverty could also be reduced by 30% by following the learning improvements which have been given by the Education Commission.
#2: Education boosts personal earnings
Education can also boost earning by around 10% every year when there is an additional year of education. For every $1 that is invested in the extra scholastic year, their earnings multiply by $5 in the low and poor income nations and by $2.5 in the lower middle-income nations. Therefore, with every year of schooling, there could also be a rise in earnings.
#3: Economic inequalities would get reduced
In an ideal situation where the workers from both rich and poor backgrounds got the same amount of education, the difference in between the two in poverty could get reduced by 40%.
#4: Economic growth could be promoted with education
It is through educational attainment that half of the difference in the economic growth rates between Sub-Saharan Africa and East Asia in between the years of 1965 and 2010 can be explained. In the year 2050, the GDP per capita in the low-income nations would be 70% lower than what it would be in case the children were all learning in schools.
Therefore, now that you’re aware of the ways in which education can help in eliminating poverty, you too can do your bit to eradicate poverty and make this world a better place to live in.