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Economic Development

Most economists argues that it is not the physical capital or natural resources that determine the character and pace of its economic and social development, but its human resources. Developing countries must agree because they devote so much of their resources and capital into education. The late Professor Frederick Harbison of Princeton University argues that “Human resources constitute the ultimate basis for wealth of nations. Capital and natural resources are passive factors of production; human beings are the active agents who accumulate capital, exploit natural resources, build social, economic and political organizations, and carry forward a national development.” Most third world nations believe that rapid quantitative expansion of educational opportunities is the key to national development. Most countries contribute most of their public revenues to education, and poor nations have invested huge sums of money to education. The basic premise these countries are following is that there is a direct correlation between level of education and income level. In areas where the average level of education is higher, th


Overall, it has been concluded that expansion of educational opportunities in developing countries created a more productive labor force. It provides widespread employment and income earning opportunities for teachers, school and construction workers, textbook and paper printers, school uniform makers, and related workers. It also creates a class of social leaders to fill vacancies left by departing expatriates. Along with these reasons, education also provides the kind of training and education that would promote literacy and basic skills while encouraging modern attitudes on the part of diverse segments of the population.

These reasons for developing education are all very sound and well thought out. There is one problem with them however. This is what is known as the “brain drain”. The idea behind this is that high-level educated workers tend to migrate from poor to rich countries. They do so because the wages and quality of living are significantly higher in rich countries than in poor. This is often true of professionals such as scientists, engineers, academics, and physicians. Most of these professionals

Some topics in this essay:
Michael Todaro, Princeton University, , developing countries, educational opportunities, natural resources, women’s education, discrimination women hinders, improved child health, expansion educational opportunities, educational discrimination women, child health nutrition, improved child, development countries, quality living, expansion educational, economic development, level education,

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Approximate Word count = 765
Approximate Pages = 3 (250 words per page double spaced)


  

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