Education and Leadership as Drivers for Economic Growth - The case of Portugal

Abstract

The competitiveness of nations requires several factors that must occur for it to attain sustained levels of economic development. Some of the most important vectors that constitute differentiators of nations competing globally are the qualification of its population, as well as the degree of sophistication, capacity for decision-making and strategic vision of its leaders and elites. A greater competitive ability of a nation translates into a higher capacity for wealth creation and a better performance on key items of social and human development. Often, small niches of excellence and strong leadership in key sectors are crucial, notably for the example that these examples of excellence signify to others, thus producing a dragging effect whereby other sectors and individuals are pulled in by inspiring role models and their examples. This chapter examines the performance of Portugal from different indexes, providing different perspectives, all related to levels of education and retention of qualified individuals, aiming to assess and evaluate the deep constrains that the country faces at a critical moment. Recommendations are centered around the key idea of a strong emphasis on the acquisition of knowledge as a catalyst for economic development.