Why the west has out developed other civilizations since the 15th century? Niall Ferguson in his book “Civilization, The West and The Rest” analyzes the reasons. Education and R&D are the two main factors that mark the development of any society or country.(Human Society)
Among all the primary and the secondary factors, Education is unarguably is the most important one. Education closely coupled with R&D lead to innovations, which decide and ensure any country’s path of progress.
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Investing in knowledge and then transforming that knowledge into a tangible value, helps the well-being of citizens by developing better products, services, systems, and solutions, and that too at a lower cost. It helps in the overall development of a society or a country.
Education and R&D also share other features in common besides their importance as drivers of a country’s development. Both call for talent and efforts from all stakeholders from Teachers, Pupils, Managers, Engineers, and Researchers. Education and R&D share also the same underlying curiosity and inquisitiveness continuously unearthing new vistas of knowledge to drive further success and learning new skills.
Human development is not limited to just a biological process. Human development is a complex interplay between biology, psychology, and society. “Human is an incomplete animal, who completes himself through culture” Geertz. Human ontogenesis is always in need of compensatory support by cultural and individual scaffolding and self-regulatory efforts. Even if we are coproducers of our development, it is constrained by the laws of nature, in particular by biological laws.
Human capabilities also are expanded or constrained by our efforts, by the institutions, and finally by the working conditions of our society. Human development is defined as the process of enlarging people’s freedom and opportunities and involving their well beings. Human development is about real freedom, where ordinary people have to decide who to be, what to do, and how to live.
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People with extensive and well developed capabilities have the tools, they need to make their vision of “A Good Life” a reality. Without basic capabilities, the human potential remains unfulfilled. The most basic and valuable capability people possess is to be alive. The life expectancy at birth stands as a proxy for the capability to live a long and healthy life. It is different in different parts of the world.
Access to knowledge is a critical determinant of long term well being and is essential to individual freedom, self-determination, building confidence, helps in conferring status and dignity in the society. It broadens the horizon of possibilities as well as allowing for the acquisition of skills and credentials.
The health of a society/country is determined when a community guarantee to its members uniform opportunities for education, access to productive employment, control over their environment, access to the political process, and the process of basic human rights. How the available resources can be utilized in creating, developing, and sustaining the right social conditions and not limiting to the sheer wealth of a community is more important.
A long and healthy life, access to knowledge, and a decent material standard of living are the basic building blocks of well-being with ample opportunities to use capabilities are the important ingredients of a complete life. These values are universally valued around the world and measurable, intuitively sensible, and also reliable indicators.
Economies today operate like delicate living systems. Side by side they lack self-awareness required to find a healthy equilibrium for its constituents. Capital inflows and outflows in economies are like blood circulation in the body. In this flow, free-market systems produce an abundance of wealth, but the system has not resolved the issue of achieving an even distributing system of the wealth so created.
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The huge levels of disparities do more harm than good. The countries which have invested more in R&D achieved basic levels of social securities in their countries.
Historically, R&D and innovation have thrived over the business, academia, and the government. They work together to turn new ideas into beneficial and profitable enterprises.
We can see the Californian hub Silicon Valley, where an infusion of federal government funds in the 1990s to the universities such as Stanford and UC Berkeley helped to create a burgeoning ecosystem that later gave birth to the likes of Google and Facebook. In today’s information age, besides getting information, it is important to use information effectively for creating value.
Innovation leading to increased productivity is the fundamental source of increasing wealth in an economy. Hence innovation is the most important factor for countries that guarantees employment growth, sustainable growth, social welfare, and quality of life. There’s a close relationship between R&D, economic growth, and the development of a society or a country.
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