Kozyreva P.M., Smirnov A.I. Middle Income Groups: The Correlation Between Education and Material Well-Being. In: The Middle Income Group in China and Russia. Research Series on the Chinese Dream and China’s Development Path. ...

Abstract

The specific features of the way mid-level income groups are formed are largely determined by the solutions for the country’s education issues, mainly those of accessibility and quality of education. This, in many respects, may be explained by the special role education plays as a mechanism of socialization and social and cultural integration, an upward mobility channel, and a means of producing and accumulating human and social capital. Modern sociological research views education inequality as combined inequality of social circumstances that impact education opportunities and inequality of education outcome. It bears noting that research conducted in different countries demonstrates an overall positive link between the differentiation of the population’s education level and income. Empirical data makes it obvious that the improvement of education level is the main factor of increasing income and combating poverty, while higher income, in turn, serves as one of the key prerequisite for a rise in education level and the accessibility of high-quality professional education. The status of material well-being tends to be viewed as one of the objective indices of education and career success or lack thereof. Another point being highlighted is the importance of income security for all workers, regardless of age and professional group, as they name income as the primary motivational factor that prompts them to work and invest in their education.