At some point in life, everyone has been in situations when parents have repeatedly stressed that education is paramount to one’s development. At the time, one is unable to realize the significance that academic development could have on a wider social and national extent. The introduction of the first steam engine in 18th century - the Industrial Revolution -resulted in prosperity in almost all areas of life first in the United Kingdom, and later in the rest of the Western Europe, which shaped a new worldview, placing education as one of the top measures to consider, when determining a country’s growth. Plenty examples of different countries in varying times through history, illustrate how increased levels of investment in education have been pivotal to the economic development in the long-run. The case of Kosovo, unfortunately, is similar to the countries that were late or for different political reasons were not able to make good use of this already established and proven relationship. By looking at the successes of other countries in having education as a tool to increase the involvement of youth in economy and to foster entrepreneurial spirit among them, this essay will focus on how these examples could be adapted to the case of Kosovo, for it to achieve higher rates of growth in the long run.
Before going into argumentation however, it is important to define both education and economic development in the context of their relation to clarify the standards used to draw the final conclusion of the essay. Many dictionaries define education as the process of gaining knowledge and economic development as the social and technological reformations taking place in a country’s economy . The combination of these two definitions gives the output of a positive multiplier effect, where higher investments in education would result in a more knowledgeable output from universities, hence a more knowledgeable workforce, which would create fertile grounds for an increase in the productivity of a country.
Plenty of scholarly work has focused on education being directly correlated with economic growth. The arguments generally rest on two distinct aspects: building capacities of the human resources, in our case of university graduates, for a more productive labor force ; and on the fact that education is an essential aspect of developing or adapting working knowledge that suit best to a country’s local production .
Many scholars have stressed the importance of student enrollment in university as a factor boosting the quality of labor force and as a result the productivity of a country . A great example in this sense, comes from Ireland, which in the period 1995-2007 experienced a rapid economic growth, believed to be the result of a four-decade investment in enhancing enrollment rates in higher education institutions, as well as the introduction of educational programs designed to combine students’ abilities with the needs of the economy. The fourty year...