Is Education the cure for poverty?
Summarise the impact of education on poverty and the challenges education faces in equipping people for the new workplace (paragraphs 7-14) in 150 to 200 words.
Education, upon combining with multidimensional job training, readiness, and a quality job search, results reaped are more than double. An increase in earnings, employment and a reduction of time spent on welfare are just some of them. However, the challenges that have presented themselves are abundant, making education only a partial cure for poverty. Recent changes in the labor market has led to at least half of the inequality increase taking place within groups of comparably educated people. Even among the highly educated, only some are getting ahead, and lots aren't. Additional mechanisms are needed to nudge the invisible hand toward outcomes that are more meritocratic and just. Education improves the quality of workers, not the quality or the quantity of jobs. A danger of over-reliance on education is that skilled workers end up unemployed. Technological change is one of the reasons we've doubled the share of college grads but continued to see their unemployment rates in the 2 percent range, as our economy is still very much structured to produce lots of low-wage jobs.Thus what matters is the quality of jobs to aid in reducing or reinforcing working poverty, rather than the quantity that requires an educational degree. (199 words)
Do you agree with the author whether if education is only part of the answer to poverty? Write your response with reference to the arguments in the article, within 200 to 250 words.
Yes, I agree with the author that education is only part of
the answer to poverty. It is true that education is the ticket out of poverty.
However, it is not the only method to escape poverty; various other factors
also determine whether one is going to remain poor and get out of the penniless
pithole. In fact, it is even arguable whether education is the most important
factor in getting a decent job with a decent pay in contrary to popular
beliefs. If a man is highly-educated and is equipped with high level of skills
but lacks an economic context wherein they can realize the economic returns
from their improved human capital, he is still going to stay poor. Education
alone isn’t successful in
raising employment and earnings prospect, rather education combined with a
strategy of focused job training), "soft skills," and holding out for
quality jobs will be much more successful. Moreover, strawn reports showed
complementation of multidimensional job training, readiness, and a quality job
search with education causes the returns (income) to double. Not
forgetting to mention the great influence of rate of technological change, rate
of change and demand shift have on the amount of wages one can have. Between
1969 and 2000, improved education lowered family poverty by quite abit. But
economic growth and inequality had considerably larger effects. Family
structure and race also played roles in lowering family poverty, although not
as much as education. Thus, education is only part of answer to
poverty