Why is school important for economic development?

We spend more time complaining about school and homework but we don't truly realise it's economic importance in terms of economic development. Firstly, what is economic development? According to Investopedia, economic development is the part of economics that focuses on improving our economy. The skills we obtain through education make a valuable contribution towards our economic development. The education system in our country means that young people have to stay in school until the age of 18 now which means they are able to obtain more skills. These skills can then be applied in sectors that are productive and benefit our economy, however not every country enforces this policy and so their economic development is not as successful as ours. For example, in Brazil where there is a thriving coffee industry, there is no or very little incentive for young people to stay in school when they can go work on a coffee plantation and earn some money, which consequently results in a lack of skills to work in a more productive sector which will enhance their growth further.

So next time you complain about school, just think about how important you are for our economic development with all the skills you have obtained, unless you haven't got any skills, in which case, get some!