What is relation of education and economic development of country?

The higher the educational level of the people in a country, the higher the chances for economic development of that country. Education grooms a person to think like an entrepreneur and entrepreneurial empowerment not only persuades a person to make more income either through business ventures or appropriate job positions but also enables positive thinking which in turn is good for the society as this prevents depression and  consequent social crimes. Crimes  in society can lead to economic depression and also force people to seek opportunities outside the country thereby leading to brain drain of the country in question. 

Educated employees with their entrepreneurial mindset can lead the company to prosperity thereby promoting economic development of the employers that in turn makes the country prosperous and rich. Also, educated entrepreneurs are more savvy with money than uneducated entrepreneurs thereby leading to fast expansion of small businesses and also reduces the unemployment rates of the country.