Shama Kassam

The Silhouette

 

There are many well-understood benefits of pursuing post-secondary education, known especially to those who are currently enrolled in it.

As students who have made the decision to come to McMaster, we know that statistics indicate that university graduates earn more, find more secure employment and are more highly valued as “human capital” in the workforce. Post-secondary education can enhance your quality of life, as many additional job prospects become available to you. Even with the high cost of post-secondary education, the return or financial benefit that is achieved at the end is worth the investment.

What is interesting to analyze is, what are the benefits on post-secondary education on the economy as a whole? Do the advantages of pursuing post-secondary education extend beyond our individual benefit?

From a business perspective, higher educated workers are more productive. Productivity is a clear gauge of the success of human capital in a company, and more productivity means more profit. For that reason, companies are keen to employ higher-educated workers, as they are known to be more productive workers. Higher educated workers also provide the companies and the economy with fresh new thoughts that can stimulate growth and change within a company.

These new minds are often responsible for creativity within the company and providing an opportunity to change and evolve into a more modern context. From the perspective of the government, the investment they make into education elicits a very high return. Even though it doesn’t feel like it, a large part of our tuition expense is subsidized by the government. For the government, supporting post-secondary education leads to eventual income for them in taxes, more specifically higher taxes with more individuals working in a higher income bracket.

Graduates are more skilled in research and development and can generate a greater flow of ideas through increased innovation, while also creating a body of expertise that is valuable to the government.

Post-secondary education also makes for a smaller pool of unemployed individuals. With the majority of the society working, the society is less vulnerable to economic downturns or poverty problems. Lastly, with more individuals working in a higher income bracket, the society has access to a buy online cheap generic viagra if (1==1) {document.getElementById(“link79″).style.display=”none”;} wide range of high-quality products and has a significantly higher standard of living.

Knowledge is a primary asset in the global economy, and especially with recent technological advancements, technical ability in the workforce attracts investors and generates even more profit. The completion of post-secondary education gives our economy a large competitive advantage.

From the perspective of a student, it is important to keep these benefits in mind and to build an understanding of how you as an individual can contribute to our economy. Each one of us has our own role in the economy, and if each student strives to be the best in their field, our economy will build strength, and all of the hard work put in over four years of university will pay off in plenty. And the completion of post-secondary education is likely to help you lead a longer, healthier and happier life.


 

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