000123452 001__ 123452
000123452 005__ 20180122221117.0
000123452 0247_ $$2Other$$aISSN 1442 8563
000123452 037__ $$a1745-2016-140994
000123452 041__ $$aen_US
000123452 245__ $$aEducation's Role in Economic Development and in Assisting the Poor
000123452 260__ $$c2005-05
000123452 269__ $$a2005-05
000123452 270__ $$mc.tisdell@economics.uq.edu.au$$pTisdell,   Clem
000123452 300__ $$a10
000123452 336__ $$aWorking or Discussion Paper
000123452 490__ $$aSocial Economics, Policy and Development
000123452 490__ $$a42
000123452 520__ $$aMuch faith has been put in the increased supply of education as a means to promote national economic development and as a way to assist the poor and the disadvantaged. However, the benefits that nations can obtain by increasing the level of education of their workforce depends on the availability of other forms of capital to complement the use of its educated workforce in production. Generally, less developed nations are lacking in complementary capital compared to more developed ones and it is appropriate for less developed countries to spend relatively less on education. The contribution of education to economic growth depends on a nation’s stage of economic development. It is only when a nation becomes relatively developed that education becomes a major contributor to economic growth. It is possible for less developed nations to retard their economic growth by favouring investment in educational capital rather than other forms of capital.

Easy access to education is often portrayed as a powerful force for assisting the poor and the disadvantaged. Several reasons are given here as to why it may not be so effective in assisting the poor and in promoting greater income equality even though the aim is a worthy one. Also, an economic argument is presented in favour of special education for the physically and mentally handicapped.

This paper is not intended to belittle the contribution of education to economic development nor to devalue the ideal of making basic education available to all. Instead, it is intended as an antidote to inflated claims about the ability of greater investment in education to promote economic growth and about the ability of more widespread access to education to reduce poverty and decrease income inequality.
000123452 542__ $$fLicense granted by Clem Tisdell (c.tisdell@economics.uq.edu.au) on 2012-05-15T04:55:24Z (GMT):

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000123452 650__ $$aCommunity/Rural/Urban Development
000123452 650__ $$aLabor and Human Capital
000123452 650__ $$aTeaching/Communication/Extension/Profession
000123452 6531_ $$aeducation
000123452 6531_ $$aless developed nations
000123452 6531_ $$aeconomic growth
000123452 700__ $$aTisdell, Clement A.
000123452 8564_ $$s75390$$uhttp://ageconsearch.umn.edu/record/123452/files/WP%2042.pdf
000123452 887__ $$ahttp://purl.umn.edu/123452
000123452 909CO $$ooai:ageconsearch.umn.edu:123452$$pGLOBAL_SET
000123452 912__ $$nSubmitted by Clem Tisdell (c.tisdell@economics.uq.edu.au) on 2012-05-15T05:02:38Z
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  Previous issue date: 2005-05
000123452 982__ $$gUniversity of Queensland>School of Economics>Social Economics, Policy and Development Working Papers
000123452 980__ $$a1745