Does Education truly aid Economic Growth and National Development?
In the wake of the prevailing 21st century challenges (pandemic, economic downturns etc), the real contributions (such as cost-benefit ratio) of education to individual and societal growth needs to be re-evaluated.
No doubts, formal education has been a great spring board for many scientific researches and innovations. At the same time, we have witnessed many innovations (especially technology-oriented), spring from car garages and other unconventional locations.
How do we find a balance between formal education processes and the rising unconventional approach to innovations towards building a sustainable education model for maximal individual growth (and success) and integrative national development?...
In other words, by considering the low number of available worthwhile jobs (especially in developing nations) today, how do we sustain the value placed on education and also derive maximum benefits from investing our time, money and other invaluable resources in acquiring formal education?