application/pdf, Adam Smith（1723-1790）, in his book An Inquiry into the Nature and Causes of the Wealth of Nations（1776）, asserts that self-interests of individuals would spur them on diligent work, which would develop economy and enhance accumulation of capital. During the Victorian era（1837-1901）, however, the gulf between rich and poor grew. John Stuart Mill（1806-1887）, in his book Principles of Political Economy（1848）, insists that labourersʼ education would cultivate their moral and intellectual standard, which would improve the productivities of labour. However, in the 21st century, today, child poverty is even increasing in economically advanced countries. ʻThe Innocenti Reportʼ（2016）issued by United Nations Childrenʼs Fund（UNICEF）reports that the inequalities are disadvantaging children in the early stages of life and weakening their futures. In regards to the theory of educationʼs effects on economy, child poverty could be eliminated by the reform of educational and economical systems. Strategies to solve employment gap, gender inequality and educational disparities are an urgent need of time.