Question

What are Marshall’s views on education?

Answer 1

Views of Prof Marshall:

• With reference to capital investment on humans, Prof Marshall says that “Every generation inherits values from their ancestors which are the true -inheritance. If the physical wealth of the world gets destroyed but if the ideas to create physical wealth are not destroyed, we can retrieve the resources quickly but if the ideas are destroyed the physical wealth will remain unutilized and with time such resources and the world will be at the doorstep of poverty.”
• Thus we can say that education, training, research, technology, knowledge, expertise, etc. highly influences development. Hence, education is considered as the most important factor affecting economic development.