Does Better Education Necessarily Lead to a Better Standard of Living?

“Education is the key to a greater society.” Education has become a necessity in our fast-paced globalizing society and is undoubtedly they key to a greater society. Therefore, in order to understand if better education leads to a better standard of living, we have to first note that a better standard of living means an improved condition of which people live by, indicated by factors such as increased literacy rates, mortality rates and –perhaps, a better education – referred to as better educational qualifications in the form of training, certification or knowledge. Hence, we see that education has become necessary in order to alleviate our living standards and the key to the progress of our society. However, this does not hold true for every society where a better education has not brought about a change in the standard of living or social standing of an individual. Thus, while to a large extent, better education does improve one’s abilities to alleviate oneself in society, this is limited in several societies where better education does not necessarily translate to a better standard of living.
Education has become a large part of our lives and has led the way to greater technological advancements and improvements in our everyday life. Thus, a better education has indeed led to an increase in the standard of living of individuals around the world. Taking Singapore as an example, the government of Singapore has transformed Singapore from a fishing village to one of the world’s most active and globalized cities. This could not have been possible if not for the advanced education the Singapore government has provided for its citizens; paving the way for the spectacular alleviation of the standard of living of Singaporeans. Low cost of primary school and secondary school education has been provided by the Singapore government to ensure that everyone would have the opportunity to receive a better education. Furthermore, scholarships have been given by the government