World Development Report 2018 : Learning to Realize Education's Promise

TLDR: For example, the World Development Report as mentioned in this paper shows that education is the best way to pull itself out of economic misery, so it focused on overhauling schools and committed itself to educating every child, and educating them well.

Abstract: Korea understood that education was the best way to pull itself out of economic misery, so it focused on overhauling schools and committed itself to educating every child, and educating them well. Coupled with smart, innovative government policies and a vibrant private sector, the focus on education paid off. Today, not only has Korea achieved universal literacy, but its students also perform at the highest levels in international learning assessments. It’s a high-income country and a model of successful economic development. Korea is a particularly striking example, but we can see the salutary effects of education in many countries. Delivered well, education, and the human capital it creates, has many benefits for economies, and for societies. For individuals, education promotes employment, earnings, and health. It raises pride and opens new horizons. For societies, it drives long-term economic growth, reduces poverty, spurs innovation, strengthens institutions, and fosters social cohesion. In short, education powerfully advances the World Bank Group’s twin strategic goals: ending extreme poverty and boosting shared prosperity. Given that today’s students will be tomorrow’s citizens, leaders, workers, and parents, a good education is an investment with enduring benefits. But providing education is not enough. What is important, and what generates a real return on investment, is learning and acquiring skills. This is what truly builds human capital. As this year’s, World Development Report documents, in many countries and communities learning isn’t happening. Schooling without learning is a terrible waste of precious resources and of human potential. Worse, it is an injustice. Without learning, students will be locked into lives of poverty and exclusion, and the children whom societies fail the most are those most in need of a good education to succeed in life. Learning conditions are almost always much worse for the disadvantaged, and so are learning outcomes. Moreover, far too many children still aren’t even attending school. This is a moral and economic crisis that must be addressed immediately. This year’s Report provides a path to address this economic and moral failure. The detailed analysis in this Report shows that these problems are driven not only by service delivery failings in schools but also by deeper systemic problems. The human capital lost because of these shortcomings threatens development and jeopardizes the future of peopleand their societies. At the same time, rapid technological change raises the stakes: to compete in the economy of the future, workers need strong basic skills and foundations for adaptability, creativity, and lifelong learning.