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Education as a Source of Social Wealth

Education as a Source of Social Wealth photo

Some economic theories indicate education as a source of public wealth, and they are completely right. What is the level of higher education in various countries and how the role of education in the modern world could be changed? Go on reading and discover.

Recently it is believed that education is a resource global social development. The more educated the member of society are – the better. However, the matter of dispute here is the desire to reduce the prevalence of several higher education institutions, because of the enormous quantity of students. The reason is that there are not enough people who can work with their hands. They say that every person wants to be an effective manager. Thus, a good plumber is hard to find.

Nevertheless, there is a desire to improve the level of education around the globe with no exceptions. Many countries are moving towards universal higher education. In Finland 94% of people who enter the schools, continue their education in universities.  96% in South Korea, 91% in Greece, 83% in the United States.

 Marxist theory

We have already dealt with Marxism and at the same time we have dealt with Karl Marx, who was a great thinker despite all his mistakes and errors. In particular, we have lost his idea of the main resource of social wealth.

Marx argues that the source of social wealth is free time. That means that the working time is the time of wealth production. However, the society can only feel and use this wealth, when it has free time and is able to enjoy what it has produced.

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The modern age of technologies and information

There is an economic theory that claims that the source of social wealth is information. Indeed, the world today is developing very rapidly, precisely because of the multiplying flow of information.

 Now we perceive the banks not only as a source of capital, but as a source of information as well. Bank estimates the projects and defines whether they have the possibility to develop. The bank defines if a project can be credited, and whether it has a future or not.

Thus, banks are now not just the batteries of capital, but also the accumulators of information, that provide the ability to assess the development of potential of the project.

Education is valuable as an activity that allows us, on the one hand, accumulate information, manage information, look for it, use it, for example, in order to evaluate the possibility of business development, economic development, and many of other spheres and projects in our world.

About the author: Edwin Ebers is a blogger that has publications at different economic and educational oriented resources. Today he is a freelance writer that works at Essayspeed.com and helps the students to write different kinds or assignments.