Question

Explain how educational process in a country leads to economic prosperity?

Answer 1

Providing education to citizens improves productivity, and these citizens not just provide more human capital, but also improve technology. This bolsters economic growth.

However, one must remember that the rate at which the economy grows depends on a country's current economic situation.

Developing nations grow the quickest, and already developed nations experience slow growth.

For example, The South Korean economic growth in the 80's, compared to other developed nations in the same period of time.

Hence, improving education in already developed nations may not have an improvement of expected scale compared to developing nations.