Summary |
Questions such as: why are some countries still poor? Why are others able to grow richer and richer? And why do some countries grow at a slower pace than others, keep coming up. They arise because of imbalances in microeconomic and macroeconomic objectives and stem from variations observed in educational opportunities, consumption pattern, savings pattern, technology etc., as between countries. The concept of economic development has thus become a major social and political issue over the decades. If any country achieves high employment, high growth and low inflation rates, then we consider it to have achieved both micro as well as macroeconomic objectives – much to the relief of the policy-makers. This book addresses issues of education and human capital development in the form of the identification of theories applicable to the realm of economic policies; identification of the forms of evidence against which the prediction of such theories can be tested, and the results of tests carried out in addition to providing recommendations for the policies derivable from theoretical and empirical considerations.
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