Importance of Education
Over the years, education has proved to be the best way to develop a country or society. This is how individuals and groups of people acquire knowledge, internalize values, and master skills. Whether it is socially, politically, or economically, education plays a vital role in a country’s progress. It enriches people’s understanding of themselves and improves their lives and these results in a broader range of social benefits to the country and the individuals. The education and training within a country’s workforce are crucial in determining how a country performs either politically or economically. Education is a significant and vital contributor to the development of any state.
The Economy
Education is, by far, one of the most important factors of economic development in any country. For any country to achieve sustainable economic growth, it must invest substantially in human capital. Education helps to improve people’s creativity, promote technological advances, entrepreneurship, and enhance the workforce’s productivity. Individuals’ abilities in a country, which is referred o as human capital, are crucial for the growth of a nation. Rich countries attain their level of richness due to the presence of high social capital, while the seemingly developing countries are poor due to lacking enough human capital.
Canada is an example of a country that has dramatically invested in education, making Canada be among the top developed nations. Knowledge is vital in Canada, and the level of Education in Canada is among the best in the world. This is an effort made by the government to ensure the citizens get the best quality of education. This, in turn, facilitates the growth of the country. Many countries lower the cost of knowledge so that more people get educated on the skills they may desire. Upon employment, they can pay taxes and revenue, which helps to boost the country’s economy. The productivity of the economy of a country increases as the proportion of educated workers increases. This is because; the knowledgeable workers can carry out tasks and duties more efficiently. Countries that see most of their citizens attend schools and training facilities see rapid economic growth compared to countries with a less-educated workforce. The Canadian government provides funding for both primary and secondary education, which has led to an increasingly educated workforce, which has led to a growth in the country’s economy. In many of the developed countries, the number of people enrolling for higher education is more when compared to those in developing; this, in turn, leads to a more skilled workforce in the developed countries, and with this, the Gross Domestic Product (GDP) increases. With enough revenue, the governments can cater to the needs of its citizens better, thus making education very important in boosting the economy.
Human Capital
Human capital is the various knowledge, experience, and skills possessed by a group of individuals that add value to a country. In a company setting, it can be classified as the economic value of worker’s skills and experience, which include assets such as training, intelligence, and abilities. The availability of education and exercise leads to an increase in human capital, which leads to the development of a country. Education is essential in increasing the human capital of a state, as this is how the citizens of the country can acquire their knowledge and skills. The levels of social capital in a country help to fast track the country’s growth as the citizens’ skills help them create employment opportunities, which in turn leads to the generation of capital. For a company to generate more profits and become more productive, it is required that the company invest majorly on the employees (i.e., in the workers’ training and education). There is an excellent relationship between human capital and economic growth. This can be seen as the Canadian government has increased the nation’s human capital with more citizens who are uneducated getting education opportunities. With an increased number of educated and skilled people, there is growth in employment opportunities, which has led to the economy growing significantly. Since people get to go and get trained in a different field and acquire a diverse set of knowledge and skills, human capital certainly helps boost the economy of a country. In countries like Canada, the government has lowered the cost for higher education to see more people continue with their studies and get skilled. This has led to most citizens possessing a specific skill that can help them earn a living, which leads to more profitable enterprises that exist, which then adds up to an increase in wealth in society.
Leadership
For a country to progress, the country’s leadership must be good, and for a country to have a good leader, the leader must be educated. Education is crucial to building good and responsible leaders. Leaders who are trained often have much better leading skills, which helps with the development of a country. Education provides the citizens of a country-wise enough to elect leaders who they feel are right for them and who have the voters’ interests at heart—having leaders who are educated means that power will not be misused for the leaders’ gains. If the uneducated leaders abuse potential, the citizens suffer, leading to the country’s economy declining. Development of leadership schools where leaders are trained on how to cater to those who elect them and not their selfish gains.
If bestowed to the wrong hands, power can be hazardous when the leaders cannot make a wise decision that will benefit the general public. Education is crucial in ethical leadership in any setting, be it a group, company, or country.
Conclusion
Education is the best means to change the world for the better. It is through education that a country can lead a prosperous direction economically, politically, or socially. For a very civilized country, the workforce’s productivity is increased, which, in turn, makes it better and more comfortable for the government to cater to the citizens’ needs. With a good education, intelligent leaders are elected who can work for the people’s needs and improve the lives of the people who elected them. Hence, knowledge is very vital for the growth of any country.