HUMAN CAPITAL THEORY AND EDUCATIONAL POLICY STRATEGIES IN SUB-SAHARAN AFRICA: A RETROSPECTIVE OVERVIEW

Human capital theory is a powerful, and yet also viewed as a narrowly conceived, understanding of the benefits of education to individuals and society. For many years since its proper formulation in the early part of 1960, during which time education has been modelled as investment leading to economic growth and development, the theory has informed government policies in education and attracted criticism and generated debate over the tension concerning who benefits from education and how education should be organised and funded. This article reviews the influence of the theory in the education policy strategies of sub-Saharan Africa from the ‘manpower planning’ era, through the ‘rate of return’ era, the ‘endogenous growth and endogenous development’ tenets and the debates over ‘quality versus attainment’. These are all discussed in relation to educational access, expansion, finance and curriculum relevance