The Socio-economic Importance of Education in a Knowledge-Based Economy

Abstract

In modern society, the priorities and importance of education are outlined, which is an essential condition for upward mobility and successful implementation of professional plans of modern youth in all countries of the world. With the development and improvement of the knowledge-based information, economy, and society, the value of education and knowledge increases. Education is becoming a fundamental condition for the competitiveness of a person in the labor market. This view dramatically expands the boundaries and meaningful basis of the need for knowledge. In recent years, the awareness of the value of knowledge in the younger generation is increasing. Young people evaluate education as a specific value in the direction of their future choices. Currently, young people are focused on such a level of education that would guarantee success in their professional activities, high wages, and career growth. Modern youth come to the understanding that to develop competitiveness and demand in the labor market, they need to improve their education and professional qualifications. In this regard, s activity is considered by young people as an essential condition for self-development and self-improvement, as an opportunity to realize their knowledge and skills in the professional sphere. World globalization leads to competition among countries and to compete in leadership positions in the field of innovative technologies, which indicates a direct correlation between the quality of training of qualified specialists. Education is considered a valuable and effective way to invest in the future. It is the period of youth that is important for the formation of a value system. In this regard, the problem of priority values of youth, in particular the value of education, is becoming relevant. The conditions, problems, and factors that influence the attitude of young people to education and the value of knowledge are identified.