DEBATE GOVERNMENTS HUGE INVESTMENT IN HRD IN EDUCATION
DEBATE GOVERNMENTS HUGE INVESTMENT IN EDUCATION
Economists and development experts have always maintained that human resource is a significant factor for achieving high economic growth and improve the standard of living in any country. They assert the undisputed fact “the real treasure of any country is its human resource”. According to Harbison (1973), human resources are the energies, skills, talent and knowledge of people which are, or which potentially can or should be applied to the production of goods or the rendering of useful services. Harbison & Myers (1964) posits that "human resources development is the process of increasing the knowledge, the skills, and the capacities of all the people in a society. In economic terms, it could be described as the accumulation of human capital and its effective investment in the development of an economy. In political terms, human resources development prepares people for adult participation in political processes, particularly as citizens in a democracy. From the social and cultural points of view, the development of human resources helps people to lead fuller and richer lives, less bound by tradition. In short, the processes of human resources development unlock the door to modernization". Human resource development (HRD) can therefore be explained as the use of training, organization and career development efforts to improve individual, group and organizational effectiveness. From the foregoing explanation, it could be said that education is imperative if the goals of HRD is to be achieved. Harbison regards human resource as constituting the ultimate basis for the wealth of nations. Adam Smith, who is cited as the “father of modern economics”, states that the capacities of individuals depended on their access to education. Returns on investment in education based on human capital/resource theory have been estimated since the late 1950s and this led to series of United Nations (UN) sponsored conferences to
Economists and development experts have always maintained that human resource is a significant factor for achieving high economic growth and improve the standard of living in any country. They assert the undisputed fact “the real treasure of any country is its human resource”. According to Harbison (1973), human resources are the energies, skills, talent and knowledge of people which are, or which potentially can or should be applied to the production of goods or the rendering of useful services. Harbison & Myers (1964) posits that "human resources development is the process of increasing the knowledge, the skills, and the capacities of all the people in a society. In economic terms, it could be described as the accumulation of human capital and its effective investment in the development of an economy. In political terms, human resources development prepares people for adult participation in political processes, particularly as citizens in a democracy. From the social and cultural points of view, the development of human resources helps people to lead fuller and richer lives, less bound by tradition. In short, the processes of human resources development unlock the door to modernization". Human resource development (HRD) can therefore be explained as the use of training, organization and career development efforts to improve individual, group and organizational effectiveness. From the foregoing explanation, it could be said that education is imperative if the goals of HRD is to be achieved. Harbison regards human resource as constituting the ultimate basis for the wealth of nations. Adam Smith, who is cited as the “father of modern economics”, states that the capacities of individuals depended on their access to education. Returns on investment in education based on human capital/resource theory have been estimated since the late 1950s and this led to series of United Nations (UN) sponsored conferences to
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