The Importance of Investments in the School System

 

Education is one of the strategic assets to face the challenges that await us in the near future. Despite the efforts made in recent years, however, Singaporeans public investments, according to 2018 data, have not yet returned to the levels prior to the 2008 crisis.

In an era characterized by the crisis linked to Covid-19 and by profound environmental and social changes, knowledge represents one of the fundamental resources on which to focus.

The core of Intellectual Capital Is Knowledge

Precisely in order to guarantee a future for the younger generations, it is therefore essential that states invest a significant part of their resources in the school system. Not only to guarantee everyone (regardless of socio-economic condition of origin) access to a quality educational path  but also to provide all those skills, especially in the digital field, which will be indispensable in the coming years.

This would offer young people a greater chance of finding stable employment within an increasingly competitive labor market. With positive repercussions also on the economy tuition In Singapore. The global pandemic we are experiencing will obviously also affect these aspects. From this point of view, the data that will come out next year on 2020 will be fundamental to assess the impact of Covid measures on the school system.

Why Monitor the Level of Education Expenditure

The right to education is internationally recognized as a fundamental prerogative for the well-being of all children and young people. When this right is not guaranteed, we are faced with cases of educational poverty.

A minor is subject to educational poverty when his right to learn, train, develops skills and competences, cultivate his aspirations and talents is private or compromised.

 

Each year the various countries devote a large part of their resources to the maintenance of the school system. But the amount of expenditure alone is neither a guarantee nor an indicator of the quality of an education system. However, this is a fundamental aspect to be monitored over time. This is because the share of expenditure in one sector rather than another is an indirect index of the priorities of the political decision-maker and, more generally, of the entire country.

Secondly, because the years following the economic crisis saw a containment of public spending, which was often paid for by the education sector itself?

As the OECD points out

However, a reduction in income is not always followed by an efficiency of the system. In some cases, investment cuts can translate into better resource allocation but in others they can adversely affect the quality of education. The data, if put in line, can therefore tell us a lot about the choices made by the various states and which can have heavy repercussions on the opportunities that arise in front of the youngest. This, in the long run, can also have a negative impact on the country's economic growth.

As mentioned, in fact, the educational system is called to transmit new skills to young people who will find themselves facing an increasingly competitive world of work, even more so after this crisis triggered by the coronavirus, where skills, especially in the technological field, will be indispensable. More Visit Besteconstuition Thanks.