DEPENDENCE OF THE AVERAGE INCOME IN THE COUNTRY ON FACTORS OF EDUCATION, HEALTH, PERSONAL SAFETY AND ECOLOGY

Abstract

In the life of any person, expected or unforeseen situations arise that require not only moral, but also financial resources. At the same time, these financial resources are influenced by the general well-being of both personal and external environment. It is thought that more highly educated workers will earn higher wages, other things being equal, simply because they are more productive than their less educated counterparts.A fundamental debate centers on whether poverty or inequality drives violent crime. Although many studies show a positive relationship between income inequality and the rate of violent crime, some critical studies using similar data argue that when poverty is added to the regressions, income inequality is not significant anymore and (absolute) poverty explains the crime rate, while (relative) income inequality does not. Also, there is an idea that the more income, the lower the likelihood of illness and premature death. That is why it is important to understand which of the factors and how exactly actually affect financial well-being.