Lucas Green
It is a well known fact that education and training play a very important role in the economic development of a country. Education and training are both must haves in today’s economic scenario. It is quite obvious that there would be no economic activity without knowledge and skill sharing. The social capital that countries have been building up over the past decades would not have been possible without good schools, universities and colleges. Therefore, both human capital and technical know how are equally important when it comes to economic planning.
When it comes to education and training: A very basic premise is that everyone needs to participate and this would only come through proper education and training. Economic development is also highly dependent on how the people learn, their interests and passion. For example, if you want to start a small scale business, then it is imperative to attend a business school and gain essential skills and knowledge. Also, the number of technical workers in a country determines how effectively the economy can utilize technology. If more people are participating in these educational and training programmes, then it becomes easier to address key issues affecting the economy.
Another premise of how our education and training: Part of economic planning is that education and training are equally vital for government policies. There are various examples where people have attained great success after obtaining a degree or diploma. For instance, one of the best examples is Bill Gates who was able to create one of the most successful businesses of all time with his personal software that became a giant when sold. His education and training in areas such as computer programming and business led him to success. In economic planning, this will prove to be crucial especially when developing long term strategies to address various issues. For instance, the economic growth rate and the inflation rate should not be underestimated because these two leads to major challenges in the future.
An additional premise: Of how our education and training part of economic planning consider the issue of the global community. Today, almost everyone lives in a democratic society where decision-making is wide-ranging and involves public debate. These discussions do not only involve leaders but the general public. Therefore, it is important for governments to engage in comprehensive development of public policies to ensure that they are addressing key concerns in the future. Moreover, the impact of these policies on future generations must also be considered.
One aspect of how our education and training: Part of economic planning that most people tend to ignore is the fact that it involves every person and their ideas. This is because most of the decisions that are made are done collectively by various political institutions with different interests. Therefore, an effective economic planning policy must take into consideration the collective opinions of all individuals and the level of participation of citizens. This is one of the factors that make economic planning more interesting and challenging.
As the world continues to become a democratic society: How are education and training part of economic planning is important. However, it should not be the sole concern of government officials and educators. It is essential to consider other interests when formulating a policy. Furthermore, these considerations should be taken into account regardless of the level of government and influence.
