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What Is a Better Monetary System: Bargaining or Money?

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Why People Need To Be Educated
Introduction
Economists have customarily considered education as an investment in human capital, which has a direct impact on both the educated individuals and the society at large. Generally speaking, people with better education have an upper hand in politics, social life and economics than those with basic schooling. However, it would be biased to assume that all the observable differences among people are brought by education. Many factors contribute to the difference in economic status and this includes family backgrounds and innate ability. In actual sense, these factors interact with the formal education environment and jointly help to develop preferences that determine people’s economic behavior. Even so, still there is evidence pointing out that, other factors neutral, better educated individuals normally have better jobs and higher income than those with average education. Further, they enjoy other benefits attributed to their schooling experience. Furthermore, it is factual that communities and countries with higher literacy levels have better living conditions than those with a less educated population. Therefore, this paper discusses the benefits of education as an attempt to substantiate the fact most of the observable difference in welfare are as a result of differences in education levels. To this end, the paper will have explored the reasons behind the need to be educated.

The Impact of Education
From an economic point of view, the time and money invested in educating an individual is in itself an investment, and like any other form of investment and under ideal conditions, the education must pay returns. Typically, these returns have a positive net impact on the educated fellow and the society around him or her as a whole. Additionally, the returns can be seen as the ability of

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