Economic conditions for the development of world educational systems in the context of globalization

Abstract

The role of education as a socio-economic variable of the country in the context of globalization is constantly growing. Its multidimensionality is the subject to the functions implemented in the relations between society and the economy. The social, cultural, spiritual and educational function of education is a significant and indisputable subject of study in the relevant sciences. The recognition of the economic role of education, the development of estimates its effectiveness and the direction of its growth is a problem which solution depends on whether the striking discrepancy between the productivity of education and the expectations of the economy regarding its importance will be canceled. Obviously, the economic role of education is realized, first of all, in relation to its economic growth. As the development of intellectual potential is a product of the education system that develops new knowledge, provides innovative and technological improvement of production and its embodiment in an increase in the social product, which stimulates economic growth. The aim of this paper is a scientific and experimental review of the economic conditions for the development of world educational systems in the context of globalization. The main background to the development of education is the proper investment in it. Typically for European countries is the fact that most expenditures on education is in the form of government consumption, although it is the consumers who actually spend the most. However, measuring costs only in this way significantly underestimates them, since a more subtle form of costs is completely missed: the opportunity cost of lost wages, since some students are not able to be involved in employment during their studies. It is estimated that the total cost, including the alternative cost of education, are twice the direct costs.