It is estimated that more than 250 million school children throughout the world cannot read. This is unfortunate because literacy has enormous benefits – both for the individual and society. Higher literacy rates are associated with healthier populations, less crime, greater economic growth, and higher employment rates. For a person, literacy is a foundational skill required to acquire advanced skills. These, in turn, confer higher wages and more employment across labor markets .
Papua New Guinea
Every sector is reforming to meet the changing demands of the global economy. Except one. Education remains a predominantly public service. This is fine except that it means that this is also mainly publicly-provided, publicly-financed, and regulated. No public service agency is expected to do as much as we expect of education. How are education systems around the world faring?
The importance of literacy for economic growth and development is already well established in economic research. Literacy enables people to access information and improve their productivity. I believe that literacy is crucial to the diffusion of new technologies, especially among the poor. It produces high economic returns, so much so that early literacy is viewed as a threshold for economic development.