How education spurs social growth and equity

Eric Hanushek, has shown that long-term growth in gross domestic product (GDP) is largely determined by how educated its workforce is — the ‘knowledge capital’ of the country — rather than its natural resources or population size.

Crucially, Hanushek proves that such economic growth through education is determined by quality over quantity. More hours spent in school or more dollars invested by a nation aren’t the factors that drive progress; instead, governments should use scientific research to determine which methods and systems impart the most knowledge.

Collaboration is vital for transformation

Education canlay the groundwork for an individual’s future, open opportunities for entire communities and unlock economic growth. But to achieve this potential, collaboration is key.

Policymakers must support educators and researchers by working alongside them. With severe teacher shortages worldwide, it’s never been more important that the education community have their voices heard. Then, by sharing ideas and insight and working with experts globally, we can help shape education systems that are fit to meet future challenges.

Shining a light on changemakers

Good ideas are everywhere. Education initiatives and research projects in developed and developing economies are changing learning and lives worldwide. And these ideas go beyond the stories highlighted here.

Whether it’s creating communities of learners in sub-Saharan Africa, helping children learn through play in Bangladesh or spreading Stem education worldwide through online simulations, the work we recognise reaches far and wide.

This year, the International Day of Education highlights what we firmly believe: education is the ultimate driving force for social progress.By uncovering innovations with impact — ones that increase human potential — we can help people lead better lives and create a better world through education.

By Dr. Charles CHEN Yidan, Founder of the Yidan Prize

This article originally appeared on Financial Times 24 January 2023. No endorsement by Financial Times is implied.