Importance of Human Capital in Economicdevelopment

In fact, there are still some countries struggling to offer education because they are still in development. Countries in Africa, such as Sudan, are primary victims. According to a research paper, “education is one of the main priorities for the people of South Sudan. As recent studies show, many communities in South Sudan view education as the most important peace dividend.” (Barnaba). After the analysis of school enrollment and completion rates in Sudan, results were rather low. Sudan, a third world country, currently is going through the state of being the most illiterate country in the world. It has placed education as its top priority and may will be finding ways to encourage families to send students.This ultimately has been caused through the poverty of the parents and thus requiring help in supporting the health of the family making education a second priority. Due to that reason, the country is still developing. A huge gap separates the developed countries from the developing countries solely based on the education systems. The paper states, “there is also concern raised on lack of attention to education quality and its failure to reach the marginalized as contributing to the learning crisis”(“Fix the Gaps in Our Education System [column]”). There is a weak management of schooling in many third world countries, which is a primary reason to why they have not developed yet. This is the reason for the gap and

The poor areas have many less doctors than the wealthy spots, even though the rural areas suffer from much harsher diseases on a larger scale. The countries either provide medical training for their own citizens or fund their training from somewhere else, but once the students have the skills to save lives, they move to different places for higher pay. This issue lies not only in South Africa, but in the entire continent. For example, for every Liberian doctor working in Liberia, there are two working abroad. Not only is there a shortage of doctors in general (averaging about 1.15 doctors for every 1,000 people in sub-Saharan Africa) but a shortage of nurses and midwives. Over two-thirds of mothers in Africa have no health professionals to guide them through hardships regarding pregnancy and childbirth, causing Africa alone to be responsible for over one half of the world’s infant and maternal

Hiring nurses from other countries that have comparable education and experience is the answer to

Nursing shortages are appearing to be a global concern as well. The shortage of nurses has caused a widespread and dangerous deficiency of experienced nurses who are needed to care for individual patients as well as the population as a whole. According to an article written by Littlejohn (2012) the nursing shortage needs appropriate intervention in order to prevent a serious public health crisis. Nursing is one of the largest groups of healthcare professionals whose has over 3.1 million Registered Nurses, but there are still not enough to care for the growing number of patients. AMN (2012) Study by Hecker (2004) suggested that in the year 2012 there would be a deficit of more than one million nurses. The shortage of nurses has put the patient as well as nurses at an increased risk for injury.

If the number of professions combined with the ageing workforce, it will increase the difficulty to meet the ascending demand in the health care in the future (NHHRC 2009). The distribution of the health workforce does not fulfil the population that has been distributed. The shortages of distribution was resulted the difficulties to meet the health care needs of Australian. According to the report in NHHRC (2009), 41% of the rural doctors were trained overseas. In other words, Australian is highly relying on overseas trained professions and the fast-growth in aging and retiring health professions is one of the factors that cause the workforce

Natural resources are raw materials extracted from the earth. They are useful in many different ways for its diversified opportunity of benefit and profit for economic development. Examples of natural resources are mineral, oil, waterways, land, timber, diamonds, coals, coltan and genetic. Majority of developing countries, distributions of natural resources vary from one geographic location to another. The variability of location has caused greed and grievances in economic development. This was attributed to more risk of conflict, weak governance, and poor economic performance.

The Nursing Workforce Shortage: Causes, Consequences, Proposed Solutions Patients need nursing care but in the healthcare setting there is shortage of nurses in the workforce. The largest health care professionals in the United States are registered nurses. In the past, there were a lot of nurses’ shortages in the healthcare setting. Therefore, to solve this problem the wages went up and more nurses started working. Also, the more nurses that is working in the healthcare setting it will be a better health outcome and good for quality care.

The population in the western countries are over 65 years old which means there are many elderlies who require a high-level of health care which puts more strain on the health system (Hicks, 2005). A good health care includes an adequate number of the available doctors and nurses to provide the care that is needed by patient. Th nurses ' shortage combines a range of issues that include: sharp population growth in several states, a shrinking pipeline of new students to nursing, an aging workforce and a baby boom that will require intense health care services (Sprinks, 2014). Furthermore, the current shortage in the available nurses in the hospitals puts more pressure on the current nurses, which makes them more prone to make medical mistakes that can affects patients badly.

Globally, the demand for education is higher than what can be supplied. When it comes to healthcare education and professionals, there is a “global imbalance”. In 2013, the World Health Organization (WHO), stated that we are short of 7.2 million health workers, and this number is expected to nearly double to 12.9 million by 2035. The WHO cited the age of the health workforce, lack of youth filling healthcare jobs, inadequate training, and that “internal and international migration of health workers is also exacerbating regional imbalances”. Furthermore, several journals and organizations, including the WHO, New England Journal of Medicine (NEJM), Health Volunteers Overseas, Human Resources for Health, and Routledge International Handbook of Medical Education, have all stated that the global healthcare work imbalance is a global crisis, all suggesting different paths to reduce the current imbalance.

More than a quarter of the world’s countries do not have enough health care workers. The world needs 4 million new health workers to address global workforce shortages. The urgency to address the health care worker crisis is a challenge for all high-, middle- and low -income countries alike. Health care worker shortages affect Germany and the USA, just like they affect India or Uganda. Western countries ‘import’ workers from developing countries, because they are also short of trained health workers. Aging populations are exacerbating the problem (Global Health Workforce Alliance, 2013).

In the last decade expenditures related to education have ballooned to the point where the global educational market has been recently valued as exceeding four trillion dollars (GSV, 2015). One would hope that with

The relationship between education and the disbursement of funds can be difficult to understand, however, the allocation of funds directly affects how students’ are educated. More often than not, educational currency is spent on ineffective resources such as untenable after school programs, teachers’ assistants without clear

This can be measured by the following formula; Per capita nominal GDP = Nominal GDP / Population, Per capita real GDP = Real GDP / Population. Seven factors determine economic growth. Natural resources such as land, mineral deposits, waterways; climatic conditions provide an essential foundation to economic growth. Combined with the other resources of capital, labor and enterprises, natural resources can be developed and organized to increase the productive capacity if the nation. Consequently the quality and size of the labor force is a major determinant of economic growth. Education and vocational training are essential the growth potential of a nation. The promotion of education and job training schemes increase the knowledge, skills and flexibility of the workforce that contributes to potentially higher levels of productivity and efficiency. Whether from natural increase or immigration population growth can cause a higher level of economic growth. An increasing population requires increased public spending on housing, education and other social needs while businesses expectations of

Many studies have demonstrated the idea that institutions are the main factor of economic development because empirical evidence points to strong institutions being able to determine large growth of GDP per capita. Although the characteristics of strong institutions can be described as the potential fundamental cause of economic growth, the effects of geography and materials available to different certain regions have a huge hand in properly developing a society economically and allowing for further growth. The resources of the countries heavily depend on the raw materials available to each region and the kinds of animals they are able to domesticate. This is where the argument circulates around in which geography is a large determinant of whether a civilization or society can prosper in a certain area or not.

In order to ensure the economy delivers on its potentials, the country experimented with two development philosophies-a private sector-led growth in which the private sector served as the “engine house” of the economy and a public sector – driven growth in which the government assumed the “commanding heights” of the economy. The initial low level of private sector development, however, led to public sector dominance of the economy, encouraged by growth in the oil sector (UNDP, 2009).