Education plays a key role in economic development, and its contribution goes beyond material capital. Education can not only improve people's skill level, but also cultivate people's ideological quality and provide more human resources for economic development.

The value of human resources

Schultz, a professor at the University of Chicago, once emphasized that skilled human resources are the most valuable resources, and their returns exceed the input of material capital. He knows that the value of human resources can be improved through training, which has a far-reaching impact on education and human resources development.

The value of thought

Schultz overemphasized skills and neglected the value of thought, which became an important theoretical source for education to ignore moral education in 1950s and 1960s. Education should not only pay attention to the cultivation of skills, but also pay attention to the cultivation of ideological quality to provide more talents for economic development.