Today 's Relationship Of Education And Economy

880 WordsApr 15, 20164 Pages
Today’s relationship of education and economy can be best described by one of the most influential people in history, Albert Einstein, who said “Capitalism has brought with it progress, not merely in production but also in knowledge.” One of the most fundamental building blocks of technological advancements in today’s society is the dependence on education. Creative Destruction, in simpler terms, is the persistent renewal of technology that constantly supersedes the previous forerunner. Many universities play a major role in research and innovation of all areas of study, one notably being technology. It is evident from this that technological advancements are derived directly from educational institutions, which permeates through to our society and into the growth of our economic system. As we continue to discover new advancements, society will intrinsically replace the former, and on the basis of capitalism, we see continuous and incessant growth of our economy. As a higher percentage of the population continues to choose an upper education, there is a rise in the percentage of qualified individuals fulfilling positions in careers and employment. This is essential for a growing economy as there is a direct rise in the inflow and outflow of currency into society. This positive impact, even exclusive of technology, proves that education is crucial for a flourishing economy. It is the technological advancements, which plays into this by way of creative destruction, which
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