The role of education in economic development

Abstract

Education is a non-material goods, desirable in itself which enables an individual to attain self-realization, to use his abilities and to enjoy life better. The United Nations statistical commission ranks it third after health and nutrition among the nine components measuring the level of living No one, indeed, questions the utility of education. The problem arises of the economic utility of educational expenditure. Attempts have been made to find criteria for assessing the amount of resources that ought to be allotted to educational expenditure.