Education contributes to socio-economic development
Introduction
Socio economic development is defined as a process of identifying the community’s
economic and social needs and therefore creating tactics in order to address the needs in
practical ways that are in the community’s best interest. Education is known to be an
important tool useful for the modern world to succeed. It is a method used to gain skills and
knowledge through instructions and study. It is said that knowledge gained through education
does help open doors to better opportunities for economic growth (Biesta, 2015). This essay
attempts to explain how education contributes to socio-economic development. Firstly, the
relationship between literacy and development will be highlighted by looking at the role of
education in economic development and how education fosters economic and social
development. Secondly, the purpose of socio-economic development and education will be
discussed addressing economic demands and the purpose of socioeconomic development, as
well as how literacy shapes the way we think in development. Lastly, this is followed by the
impact of illiteracy in development.
1. The relationship between literacy/education and development
International organisations and nations have been spending huge amounts of money on
scholastic programs. For instance, South Africa spent 213.7 billion rand on basic education in
the past year (Cohen, 2017). Traditionally, certain assumptions have justified the investments
in education. The first one is that an educated society contributes to the “socio-economic
development” of the society. Secondly, education also contributes to the welfare of people in
society (Fägerlind & Saha, 2016, p.2).
1.1. Role of education in development
In this twenty-first century, the acquisition of knowledge, skills and education have become
key determinants of a nation’s and an individual’s productivity. The theoretical policy
decisions and debates in relation with development have considerably varied and focused on
social wellbeing (Fägerlind & Saha, 2016). Through all these years, however, the main
variable in these practices and discussions has been the role of education in the process of
1
, development. In every sense, education is one of the most important influences in
development. According to research, sustainable economic development cannot be achieved
by any country without investment that is substantial in the human capital. Ozturk (2011),
emphasises that education develops people’s understanding of the world and themselves.
Education increases the society’s creativity and productivity. It also promotes technological
advances and entrepreneurship. Furthermore, it plays an important part in securing social and
economic progress as well as to improve income distribution (Ozturk, 2011). It is estimated
that 250 million children around the world do not have access to basic skills they need in
order to get into the labour market. And this is more than a moral responsibility. Education
sums up to positive investment in sustainable prosperity and growth. For both individuals and
countries, there is an indisputable and direct link between social and economic development
and access to good education. The recent OECD report states that giving every child access to
the skills and education that is needed in order to fully participate in society can boost the
GDP by an average of 28% per year in undeveloped countries and 16% in developed nations
in the next 80 years (Brende, 2015).
1.2. How education can foster economic growth and social development
The basis on which the most of our social and economic well-being is built on, is provided by
education as a foundation for development. Education leads to an increase of social benefits
for society and individuals. According to Ozturk (2011), education is the key to which social
consistency and economic efficiency are increased.
Most scholars generally agree that the invention of writing as a means of communication, is
one of the most fundamental breakthroughs in the development of civilization. Written word
enabled knowledge to be spread quickly and widely between and within generations, as well
as the accuracy of recording historical events. Fägerlind and Saha (2016) stated that the
commerce, economic and social sector was not only radically altered, but there was also
transformation in the nature of human interaction. Writing also made it easier for people by
reducing the dependence on the use of memory as a means of recording events. The
capability to converse by written word and the use of “written accounts”, reduced the
“margin for error”, therefore, making it possible for one to validate knowledge for oneself,
instead of depending on the accounts of other people’s accuracy and credibility. Furthermore,
the development of skill and numeracy is closely linked and interdependent to literacy.
According to Fägerlind and Saha (2016), basic writing and mathematics are the main
2
Introduction
Socio economic development is defined as a process of identifying the community’s
economic and social needs and therefore creating tactics in order to address the needs in
practical ways that are in the community’s best interest. Education is known to be an
important tool useful for the modern world to succeed. It is a method used to gain skills and
knowledge through instructions and study. It is said that knowledge gained through education
does help open doors to better opportunities for economic growth (Biesta, 2015). This essay
attempts to explain how education contributes to socio-economic development. Firstly, the
relationship between literacy and development will be highlighted by looking at the role of
education in economic development and how education fosters economic and social
development. Secondly, the purpose of socio-economic development and education will be
discussed addressing economic demands and the purpose of socioeconomic development, as
well as how literacy shapes the way we think in development. Lastly, this is followed by the
impact of illiteracy in development.
1. The relationship between literacy/education and development
International organisations and nations have been spending huge amounts of money on
scholastic programs. For instance, South Africa spent 213.7 billion rand on basic education in
the past year (Cohen, 2017). Traditionally, certain assumptions have justified the investments
in education. The first one is that an educated society contributes to the “socio-economic
development” of the society. Secondly, education also contributes to the welfare of people in
society (Fägerlind & Saha, 2016, p.2).
1.1. Role of education in development
In this twenty-first century, the acquisition of knowledge, skills and education have become
key determinants of a nation’s and an individual’s productivity. The theoretical policy
decisions and debates in relation with development have considerably varied and focused on
social wellbeing (Fägerlind & Saha, 2016). Through all these years, however, the main
variable in these practices and discussions has been the role of education in the process of
1
, development. In every sense, education is one of the most important influences in
development. According to research, sustainable economic development cannot be achieved
by any country without investment that is substantial in the human capital. Ozturk (2011),
emphasises that education develops people’s understanding of the world and themselves.
Education increases the society’s creativity and productivity. It also promotes technological
advances and entrepreneurship. Furthermore, it plays an important part in securing social and
economic progress as well as to improve income distribution (Ozturk, 2011). It is estimated
that 250 million children around the world do not have access to basic skills they need in
order to get into the labour market. And this is more than a moral responsibility. Education
sums up to positive investment in sustainable prosperity and growth. For both individuals and
countries, there is an indisputable and direct link between social and economic development
and access to good education. The recent OECD report states that giving every child access to
the skills and education that is needed in order to fully participate in society can boost the
GDP by an average of 28% per year in undeveloped countries and 16% in developed nations
in the next 80 years (Brende, 2015).
1.2. How education can foster economic growth and social development
The basis on which the most of our social and economic well-being is built on, is provided by
education as a foundation for development. Education leads to an increase of social benefits
for society and individuals. According to Ozturk (2011), education is the key to which social
consistency and economic efficiency are increased.
Most scholars generally agree that the invention of writing as a means of communication, is
one of the most fundamental breakthroughs in the development of civilization. Written word
enabled knowledge to be spread quickly and widely between and within generations, as well
as the accuracy of recording historical events. Fägerlind and Saha (2016) stated that the
commerce, economic and social sector was not only radically altered, but there was also
transformation in the nature of human interaction. Writing also made it easier for people by
reducing the dependence on the use of memory as a means of recording events. The
capability to converse by written word and the use of “written accounts”, reduced the
“margin for error”, therefore, making it possible for one to validate knowledge for oneself,
instead of depending on the accounts of other people’s accuracy and credibility. Furthermore,
the development of skill and numeracy is closely linked and interdependent to literacy.
According to Fägerlind and Saha (2016), basic writing and mathematics are the main
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