The cost of under-investment in education and ways to reduce it

A study on the educational system in contributing to the country's socioeconomic development


The case for investing in education is unquestionable. Education is a fundamental human right. It is critical for long-term economic growth and crucial for the achievement of all of the United Nations Sustainable Development Goals.

The value of education is increasing because it is education that will determine whether the defining trends of this century – technological, economic, and demographic – will create opportunity or reduce inequality, and because it is the common critical factor for successfully addressing the global challenges humanity is facing.

Countries that invest and reform in education as a means for ensuring to achieve the United Nations Sustainable Development Goals will secure huge benefits that far outweigh the costs. They will gain the economic advantages that come with an educated workforce with the skills necessary to compete in the 21st century economy. The overall economic benefits will translate into far-reaching gains in income and living standards at the individual level as well.
The Cost of Underinvestment in Education and ways to reduce it
George Psacharopoulos
Publication date
English, Albanian

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