HIGHER EDUCATION

Relation Of Higher Education With Higher Income In The World

Relation Of Higher Education With Higher Income In The World

Introduction

Higher education has a strong effect on young people's lives. Universities and Colleges are janitors to appealing occupations and higher incomes. The higher education system mirrors both the weaknesses and strengths the of the US society. Higher education in the USA presents students, more wholly than any other country, prospects all through their lives, and regardless of disorganizations and a want for development, it directs better than most to offer individual implementation for persons and the abilities commanded by a industrious nation.

Research Topic

“Relation of higher education with higher income in the world”.

Purpose of Study

The purpose of this study is to research if higher education can guarantee to have higher income in the world or not.

Literature Review

A review of the literature related to relation of higher education with higher income in the world shows that the difficulties with a subjective preference-satisfaction view of Benefits of Higher education have led many sociologists and a few economists to propose different conceptions of benefits of higher education: traditional hedonistic views and hybrids such as some researchers view that certain mental states are intrinsically good yet are good because they are intrinsically desired, 'perfectionist' views in which the desires that count and their weight depend on the objective value of their objects. (Barro 2001)

A college master's values 1.3 million USD in life income than a high school diploma, as said by a recent research report. People with Ph.D. degree receive an average of 3.4 million USD in their work years, whereas people with professional degrees earn at 4.4 million USD. Regarding work as occupation, philosophers have argued for opposed views of the obligation of society. One is that the responsibility for each individual's work life belongs to that person alone; there is no positive obligation of society to ensure good work for all. A second view is that opportunities for decent employment should be made available to all able-bodied adults. A third view is that the obligation of society is to provide each individual, so far as is feasible, freedom from the necessity to work by guaranteeing a basic minimum income to all individuals whether or not they participate in the workforce. The contrast between the second and third views reflects disagreement as to whether the necessity of working is a benefit or a burden and disagreement as to the validity of the social norm that each able-bodied adult is obligated to work for one's own livelihood. (Groennings 1999)

Benefits of Higher education

Higher education offers benefits to both individuals and the Society. Some benefits to individuals consist of:

• There is a correlation between higher levels of education and higher earnings for all racial/ethnic groups and for both men and women.

• The income gap between high school graduates and college graduates has increased significantly over time. The earnings benefit to the average college graduate is high enough for graduates to recoup both the cost of full ...