The Influence and Mutual Promotion of Education and the Economy

Abstract

In the 21st century, global competition around the economy and education is fierce. Under normal circumstances, the quality of education in countries with strong economic strength is good, while the quality of education in countries with relatively backward economies is not well guaranteed. This paper discusses the relationship between education and the economy, the reasons for this relationship, and the ways of their healthy development together. When discussing the relationship between the two, this paper compares the GDP of the United Kingdom and Nigeria with the current situation of education in the two countries and confirms that the relationship between economy and education is usually common progress. As for the reasons for the influence between the two, the paper discusses the two reasons for economic security education and education promoting the economy and divides them into two different types of reasons, direct and indirect. Education promotes the economy through commercialization and training of talents. The state sets up a minimum allocation system and follows the allocation formula to ensure adequate funding for education. To promote the common development of both, China has a good example, such as driving independent innovation through university strategy, providing creativity and skills for economic construction, and implementing compulsory education policies to coordinate education equality among regions, thus affecting balanced economic development.