Does standard of living correlate with higher education?
This question aims at the correlation between a societies standard of living and standard of formal education.
For example, over the past century, America has had the fortune of being a place with a high standard of living, relative to most of the world.
However, it is hard to ignore, that when foreigners come to study and work in American society, they bring their cultural standard of higher marks in course work or higher ranks in the work world.
Example: the "Asian F" is commonly known in American schools and colleges as an Asian student receiving the letter grade of a B in a certain course.
However, this grade among Americans had always been considered above average and continues to secure a higher standard of life, while the foreigners with the higher cultural mark standards come from a country with a lower standard of living.
So is there a correlation between Higher Education levels and Standard of Living?
I disagree. It has very really policy implications, and policy is the bread and butter of this site.
But lots of topics have policy implications. A question about Bit Torrent could have policy implications. Still wouldn't really be a political question. My 2 cents...
Suppose you paid a boatload of money to send your child to a prestigous university overseas. would you expect him to do very well or average?
Just to be clear, are you asking if SoL correlates with Higher Education on a personal level (I.e. does having a high education mean you are more likely to have a higher SoL (regardless of other factors like nationality/residency). Or do you mean do countries with higher education levels (of their citizens) have higher SoL? I don't think these two things are necessarily the same thing.
@user1873: if you can mention how nationality/residency plays int hat would be appreciated, thank you.
Minor point, but I want to point out that I appreciate you used "Correlate" rather than "Cause." So many people don't realize that Correlation != Causation, but here, I think you are asking *exactly* the correct question by seeking to understand if there even *is* a pattern (correlation) before asking for a cause. Thanks!
Yes, Standard of Living correlates with higher education, because the latter is included in the measurement of the former.
Standard of living refers to the level of wealth, comfort, material goods and necessities available to a certain socioeconomic class in a certain geographic area. The standard of living includes factors such as income, quality and availability of employment, class disparity, poverty rate, quality and affordability of housing, hours of work required to purchase necessities, gross domestic product, inflation rate, number of vacation days per year, affordable (or free) access to quality healthcare, quality and availability of education, life expectancy, incidence of disease, cost of goods and services, infrastructure, national economic growth, economic and political stability, political and religious freedom, environmental quality, climate and safety. The standard of living is closely related to quality of life.
There are several measures of Standard of Living. One is created for evaluating quality of life in OECD countries. You can run your own comparisons on the data here, and change the weight placed on each variable. You will notice little fluctuation, especially with those nations that have low education scores.
Another standard is the Human Development Index. You can run your own charts on their data here. You will find a high degree of correlation between HDI: Education Index and **HDI: Human Development Index (HDI) value. Here is a plot of HDI: Education Index versus HDI value. You will note the positive slope of the line, and the fact that the majority of points track fairly close to a line through the center of the points.
For the last chart, it would be more informative to plot the HDI *excluding the education index* against the education index.
@Mechanicalsnail, I am not sure I agree. I already noted that education was a component of HDI. What if the question was, is there a correlation between cost of life insurance and a persons age, would you ask me to factor out the **age** of a person when plotting their life insurance costs? Then the LI cost would only be based on other health issues, smoking, dangerous activities (hang-gliding, motorcycle rising, etc,). I bet that if you factor out age out of the cost of Life Insurance, you would find little correlation with age.