Formal Education, Development and Educational Inflation
Synopsis
Formal education has always been considered an essential condition for economic growth and the development of society. A society with high levels of education is always characterized by a high level of development. However, this is not completely true, the statement is partially correct, but not necessarily. It is assumed that a society with high levels of education has better conditions to achieve development, because education improves people's skills and productivity, facilitates innovation and technological advancement, promotes a more informed and participatory citizenry and could reduce inequality in the long term.
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