question_answer 12)

‘There is a downward trend in inequality world-wide with a rise in the average education levels’. Comment.

Answer:

It is believed that education level reduces the inequality al the global level Education imparts the knowledge and technical skills which enhance the productivity of people. An educated person possesses higher productivity and efficiency and hence a relatively higher income earning capacity. The higher income earning capacity and greater acceptability of modern techniques with rise in average education level across the world has raised the living standards and quality of life in the under developed nations. Distribution of income has become less skewed and income disparity between the rich and the poor is reducing across the world with better earning opportunities available due to rise in education. Governments of different countries have been investing heavily in the education sector as rise in average education levels not only reduce inequality but also other problems like poverty, unemployment and underutilisation of resources.