Education and knowledge are fundamental to social justice and economic growth

Abstract

This paper tries to explain that both knowledge and education are the way to increase economic growth and social justice. We have used the panel data to check the relationships between four indicators: knowledge, education, economic growth, and social justice. These data are from the Social Progress Imperative Organization (2018). We have used the statistic method (mode, quartile, and decile) to analyze our data though they are not enough. So, we found that 54 countries in the world have the lowest revenue between $600 and $9,300. They set forth almost 43% among 126 countries. In this modal class, about 6% have the lowest rate SPI (Social Progress Index) in the world - it is between 20 and 40-, and more than 94% have a rate SPI between 40 and 80. The results of the OLS regressions show that the improvement of social progress can increase GDP per capita to seven times what it was. On the other hand, both improvements in knowledge and education can increase GDP per capita to thirteen times what it was.    

Keywords

• Knowledge,Education,Economic Growth,Social Justice

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