Government Must Invest In The Educational Sector For Increase Human Capital
We find students every day browsing the internet to know the next school to apply? The surprising part of this is, not Ghanaian schools, but school aboard. An ever-increasing number of individuals are venturing out crosswise over oceans to obtain a quality education. Why is this? Is Education as important as it seems?
We find more students traveling out than coming in? What's more terrible, these schools aboard subsidize funds for our students, collate their ideas into their academic pool of knowledge and present a luxurious and comfortable environment for them to stay behind and work for them.
Education is at least important as investment in physical capital for a country’s long-run economic success. In the created economies of Western Europe and North America, every additional time of schooling raises a worker’s salary by around 10 percent. In less created nations, where capital is particularly rare, the hole between the wages of educated and uneducated is significantly deeper and blurred for future innovations.
Investment in human capital, like investment in physical capital, has an opportunity cost. When students are in school, they forgo the wages they could have earned. In less developed countries, kids regularly drop out of school at an early age, despite the fact that the advantages of the extra schooling are exceptionally high, basically in light of the fact that they have to work to help their family monetarily.
The financial standing of our nation is simply so hard, students need to leave school and begin little privately-owned company just to make a decent living. Rather than depleting from the little their families have, they are inclined to thrive for their family’s success. Some end up in bargaining circumstances where they need to depend on fraudulent activities just to make a couple of bucks.
One huge issue confronting some poor nations is the negative thoughts people have about the country. We find many of the most highly educated workers emigrate to rich countries, where these workers enjoy a higher living standard. If human capital does not have positive and constructive externalities, then the brain drain makes these people left behind poorer than they otherwise would be. This is been a problem for centuries now but developed countries who see the value of human capital invested more in education.
Developed countries today, like Europe and America have the best educational systems and is not surprising most poor countries send their best brilliant students abroad to gain higher degrees and experience. The challenge here is that these students who spent their lives in abroad may decide not to return home and the negative mindset about their country will diminish the poor countries load of human capital considerably further.
Hence, one manner by which government policy can enhance the standard of living is to provide good schools and to urge the general public to take advantage of them. The free education policy is not the solution to the problem, providing education facilities for higher education is the solution to our problems. We have few schools and universities, but the populations increase every now and then, how then do we anticipate these few educational facilities to harbor all these people.
There is a need to produce for educational systems to satisfy demand. People must be educated about acquiring some form of education; Schools must be more practical than theoretical. Students are thought books and theories and when they find themselves on the field, we see a whole new thing. Brilliant students ought to be conceded grant in the best schools and given a porous to return home after school. Students who venture out abroad should come back to affect their nation emphatically.
The government must be on its toes and investment in the educational sector for future prospects. Ghana is still looking forward for a cognizant change and upheaval for a superior tomorrow.