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Academia’s Role In Economic Growth

Thu, Jun 7, 2007

Education

Industrial revolution has brought about many major changes in the life of mankind and become source of institutional restructuring. Industrial revolution has opened new panoramas in socio – economics spheres all over the world. The impulse of democracy crept into the societies, which was highly motivated by the infant capitalism. New concepts & ideologies were floated & new spate of economic rejuvenation began to enshroud the economic affairs, which started affecting the orthodoxical methods of economic interaction in an optimistic way. New economic institutions were established with a focused objectives & aims to manipulate & regulate the commercial relations globally.

The role of Academic reformations & development in the journey of economic progress is noticeable. Whole history of economic expansion was subjected to the intellectual fervor of that age. Academic advancements have translated the Industrial Revolution as KNOWLEDGE REVOLUTION. History posses the fact that educational & commercial institutions have a lot of bearing upon on the current development of mankind. From Holy messengers to today’s philosophers, teachers, economists, policy makers have been adding to the development of human history.

In this modern cum checkered age academia & industrial cooperation have become inevitable to actualize the idea prosperity of human beings, it is summed up that human activities are difficult to be systematized. Intellect is not only the basic input in industrial development but for all the human history development revolves around the learning skills of mankind. The first revelation of Islam was the word “IQRA” an Arabic word means, “READ”.

The age in which we are living is an age of technology & modernism. The demands and requirements of the present are entirely different from the those of past. The phenomenon of Survival for the Fittest echoes and technologically upgraded and intellectually skilled industrial base can compete internationally. Similarly today has to offer entirely different from yesterday.
International politico – economic scenario reveals that without an enlighten thought & development in the sphere of technology no nation could survive independently. Rapid growth has been witnessed in Industrialization, where technology and skilled manpower is available. Hence the role of the educational institutions and mainly the system becomes more important player for self-sufficiency in the technological and related felids.

History conveys that the colonial masters have ruled many nations of the world by the dint of their skilled manpower & technological advancement. Cutthroat competition today calls for aggressive enlightening norms in educational institutions to capture market share. Educational institutions are supposed to manufacture the products of students with added value of innovative thoughts to coup with up the technological requirement of the contemporary industry.

Hence technical education that is preferably need based would be absorbed into the market. An emerging concept of need-based studies is taking place that Governments try to establish educational institutions in particular areas where particular demand arises.

Robust industrial sector is in a perpetual quest for seeking international alliances to meet both for the growing demand of international market and local needs. In third world countries, many joint ventures among the indigenous Business community and investors form developed world have been witnessed. These are not only the sources of foreign direct investment to developing countries but also modern education gets its way there, further making the access to opportunities equal and easy for the people of these countries and for out-matched growth in industrial sector. Further governments in developing countries must construct their Educational polices adhere to the national needs and ultimately to modern and practical world.

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This post was written by:

Rubab Saleem - who has written 2973 posts on Pakistan Times!.

Rubab Saleem is Editor of Pakistan Times

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1 Comments For This Post

  1. Azmat Gill from California USA Says:

    Most of indian peoples come from computer field and informantion technology, i find many students come from india here to study. But number of students coming from Pakistan to US is very low becuase we keep on fighting for the tenure of only 5 years, i ask y y y?
    can we introduce new educational system? world is moving with speed of light and we are still looking for electricity supply without fluctuations and tripping in twenty first century….
    where do we stand, can we please think over it……
    i suggest we must leave starving for powers & seats in assembly and stat thinking in terms of development of the nation..
    if not now? when and who will do this we?
    wrtier is very righ in say this that governemnt should pay heed to the issue of making eductaion need base..

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