There is a debate on whether or not education serves a practical purpose. Some say the economic benefit of education comes from signaling; others argue that it is a waste of money. While Caplan sees some merit in schools, he worries about their efficiency. He says schools would be better off churning out workers if they sent their kids straight out to work. Let’s discuss both sides of the debate. Here are some important things to consider.
In a nutshell, the education promotes democracy by imparting values and morals. It also ensures social change by encouraging innovation and the development of new ideas and beliefs. It also teaches people to respect authority and conform to rules. And, perhaps most importantly, it teaches children to value the dignity of their lives. Hence, it is crucial to promote education and encourage it. The purpose of education is to develop the mind and character of children.
A high level of educational attainment correlates with income. Higher education means more employment opportunities and higher salaries. A nation’s economy relies on an educated population. As a result, countries with higher literacy rates are likely to progress in human development. An estimated 70% of all jobs require college-level literacy. Those with lower literacy skills are more likely to be unemployed. Education promotes economic growth. But what is the best way to promote it?