Education and the Growth of Knowledge
In the two preceding lectures I have been concerned with the history of thought regarding variations in population and accumulation in relation to economic development. I have said nothing concerning variations in the quality of populations or the stock of knowledge at their disposal. Yet clearly these are influences of great significance in the causation of economic development. Material investment without the skill to utilise it is apt to be unprofitable; and the incentive to invest depends much on the march of technical knowledge. It is therefore a matter of considerable interest to determine how such factors have figured in the speculations of the past. Accordingly they will be the subject of the present lecture. I shall deal first with the history of thought regarding the quality of the population, which will involve mainly thought concerning education in this connection. Then I shall proceed to discuss a little the evolution of ideas about the importance of knowledge in the process of economic development and the systematic advancement thereof.
KeywordsEconomic Development Classical Tradition Economic Thought Present Lecture Material Investment
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