The Role of Education in Economic Development

The inter-relation between education and economic development is so obvious that any discussion of the role of education in economic development would appear to be unnecessary. However, what we need to know about education's role in economic development is much more than an assertion that education is necessary for economic development. Especially from the point of view of educational planning, the most important questions are : What is the relationship between education and economic development ? Does education make any contribution to economic development ? If so, what is the exact nature of this contribution ?.