Is education or financial inclusion the greatest weapon for change in the developing world?
With the recent post on Africa, I was wondering what could actually be a possible step forward to ensuring they or any other third world economy begins prospering.
With that in mind, does anyone agree that education is the greatest weapon they have available. I get that foreign investment is huge and consisted of the greatest money earner for countries with various commodities and products but surely this should take precedence.
The reality is that there are over 70 million children out of school. And of those in school, substantial proportions either do not complete their schooling or leave without being properly literate and numerate. Rather then providing a reliance to direct investment, the greater burden on their own shoulders, the better it is for them.
I was having this argument with someone at work and he seemed to think that financial inclusion (availability of timely and adequate credit, savings and insurance tailored to the needs of the poor and at affordable cost ) is much superior when evaluating for what they need now and in the future. I agree for now but not for the future.
What do you think?