Benefits of Investing in educational Conferences
Education is the passport to the future … and not only for each person on an individual level but also for society as a whole. The importance of education in our society is a reality, and more at a time like today. Children are the most important resource in the world and the best hope for the future. The urgency to invest in education is pressing. It is not a superficial proposal; it is based on the fact that we know the impact that education has on our society thanks to multiple scientific studies carried out over the last decades … and the conclusions coincide: better education = better future. Education is a fundamental strategic asset for social and economic growth. Economy and Education are communicating vessels. Here are five reasons why investing in educational conferences can bring a change in society.
Education improves people’s standard of living
Scientific research work in recent years has shown the benefits of quality education. The equation to demonstrate this is simple: with a higher level of education, a person manages to obtain a higher level of income than if they had no such training.
Theodore Shultz was the first researcher to point to education as a form of investment, as opposed to those who considered it an expense. Their work demonstrated, for the first time, that education leads people to improve their income level and their level of well-being. His studies earned him the Nobel Prize in Economics in 1979. Investing in education brings direct returns for people.
Education improves the welfare level of society
The benefits of education are not left only to individuals at the individual level, society as a whole also wins with a higher level of training. If more training is associated with higher income, people with more training pay more taxes, thereby making a greater contribution to society.
School failure and school dropout are a stumbling block because of their impact on families, on the level of well-being and social cohesion. And the problem also has a direct impact on the public coffers, because of the less training, the lower the salary and the less consumption.
The data is very relevant, especially for those countries that have a high rate of early school leaving, such as Spain, with a rate of 29% compared to 14% in the EU. And more, if we take into account that despite the multiple educational reforms, the rate has remained practically stable for many years.
Education is essential in the “learning society”
In the book “Creating a learning society”, its author Joseph E. Stiglitz asks the question: what is it that generates growth in a society? And he makes his approach: we need to create a “learning society” as a formula for achieving economic growth, development and social progress.
In our society, we cannot afford to stop learning, education has an essential role. Social progress in the 21st century will be the result of how we teach our young people. We are what we are for our education. Therefore, education must reach more people, it must be continued and it must be in tune with what society needs. We must understand education as the heart of progress and this forces us to be demanding. Education must change and must incorporate skills and competencies that may not have been necessary at other times but are now essential.
Education improves non-economic aspects in people’s lives
Beyond the impact of education on the remuneration of people and the generation of wealth, various researchers in the field of Economics of Education have also detected positive non-monetary effects. These, logically, are more difficult to quantify, but they can be identified and assessed through various procedures.
Thus, we found that the level of education affects aspects such as:
- the degree to which an individual enjoys their work: people with a higher level of training are more satisfied with the work they do;
- education can lead individuals to make better decisions in aspects related to their health or lifestyle;
- and education can make individuals more patient and more goal-oriented.
Therefore, we are not referring only to benefits at an economic level but also benefits in quality of life.
Investing in education is profitable
James Heckman’s work has concluded that the returns from investing in early childhood education are higher than other types of investment.
If society invests in early childhood education, fosters schooling, reduces crime, improves children’s skills, and leads to higher income levels in their future professional lives. A higher level of income has an impact on improving the lives of the person and contributing to a higher level of taxes to society and, therefore, generates greater social welfare.