Education provides economic benefits to society in many ways because well-educated citizens are better-equipped for significant economic production. However, the benefits aren't just for society as a whole, education also benefits individuals and families.
Education can improve the future for everyone involved. As children learn to count, write and read, their futures and the futures of their families and countries all begin improving and the world slowly becomes a better place. Education benefits society in so many ways, including the following five notable areas.
Increased Employment and Earning Employers in a society are impacted by supply and demand of qualified workers. Higher overall education levels mean more qualified workers compete for positions, and employers can put more talented people in key roles. Better organizational performance leads to stable employment and income that flows back into the community.
Increased Earning Potential Also notable, as individual education increases, so does each person's earning potential. As each person's earning potential increases, so does the amount of money flowing into the community. Getting a higher degree doesn't guarantee a higher income but research shows a direct correlation between degree attainment and the amount of money people earn. For example, someone who doesn't graduate from high school may earn an average of about $475 per week while a high school graduate averages weekly pay closer to $650. Weekly pay for those with a college degree might average $775 with a two-year degree, $1,100 with a four-year degree and up to $1,700 or more with a post-graduate degree.
Improved Health People with higher levels of education tend to get jobs with better health benefit plans. Access to affordable healthcare makes it feasible for people to get help with illness and disease, which contributes to mitigating the potential for community outbreaks. Educated parents are more likely to vaccinate their children. They're also better able to feed their children, which reduces the disease and growth problems associated with undernourishment. Additionally, children born to mothers who can read have a 50 percent greater chance of living past their fifth birthdays, and mothers who have completed their primary education are at 66 percent less risk of maternal death.
Improved Economic Stability A stable economy benefits society. When a country's educational system is doing well, its economy is almost always sure to follow. For example, as individual earning potential increases and more money is being put back into the community, home prices often stabilize. A stable business system is another economic benefit.
Education's Link to Happiness and Trust Education improves the lives of individuals, families and societies. Although money can't buy happiness, there is a correlation between education and living longer, happier lives. People with a solid education are more likely to get involved in societal activities, and they're more likely to have skills that support their mental and emotional health. All of that also boosts society's level of unity and trust. In general, the more educated people are, the more they feel compatible with society and a sense of togetherness. In short, the more educated the society, the more advances and progression that society enjoys.