Education Is The Only Most Significant Aspect Of Economic Development

1077 words - 5 pages

Education Is The Only Most Significant Aspect Of Economic Development
For a country to grow economically there requires being engagement of human capital and skills. However, skill are created and enhanced through formal schooling. It is believed that economy interacts positively with education an aspect that leads to prosperity of a country’s economy. Since the advancement of technology, education becomes increasingly valuable as well as its utilization in various aspects on the job. By enabling employees to continue their education, they are more likely to improve their work rate and in doing so increase economic growth. In this view, the country needs to train and educate workers to ...view middle of the document...

As a result, education is not the only important factor that fosters a country’s development. . More so, while education is a crucial resource that a country posses to support development, it is not the single most significant factor that enhances growth. Natural resources, culture among other factors are key to economic development (Bailey 199). For instance, United States upholds a powerful work ethics that supports its growth. Natural resources such oil also foster economic growth. Agricultural enhanced through efficient legal systems also fosters development. It is quite challenging to think of a scenario where education is a sole agent that fosters growth.

Despite the previous argument, there are several reasons to prove that education is an important factor in relation to other economic development factors. For a country to be considered a developed, it has to have effective and efficient health system, good infrastructure, workable economic policies, equitable incomes, and reduced incidences of poverty among its subjects. In order to have an efficient health system, doctors and nurses need to be equipped with the necessary information on the field they major. In the process of formulating workable economic policies, professional economists and other qualified personnel are always called upon to do the task. Equitable incomes and resources in the society are obtained by increased employment opportunities in the society. In order to achieve the goals and requirements of the economic indicators and development, education is required to provide the personnel and significant information. This indicates how crucial education is to the realization of the economic goals resulting into economic development (Conrad 284). Countries that are well off education wise translate their educational skills into technological catch-up. In fact, any successful economy, hold a workforce that has the aptitude of operating industries at stages in which it enjoys competitive advantage. The workforce must hold skills and expertise in different areas of functionality. Conrad has expressed his view that “poorly prepared individuals simply cannot benefit from advanced education even if they do attend” (282). Such countries provide resources to train and educate people to form a more knowledgeable workforce. Hence, education is the single most aspect that fosters development in the sense that it enlightens people on how to utilize the available resources to...

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