Importance of Philosophical Framework of Education in Social and Economic System of the Developing Nations

Purpose: The aim of this paper is to highlight the importance of Philosophical System of Education in the developing regions. This study emphasized on significance of learning of Scientific Research philosophies and paradigms to generate new ideas in business, education & research to meet the challenges faced by developing and growing economies. Methodology: This paper reviews the various theories, philosophies and, paradigm briefly to explore that how, effect of paradigms on the methodologies of research from selection of research topic to data analysis. Findings: The study has found that a theoretical direction of a researcher is very important in producing a creative knowledge. To improve the learning process, education, business and technical schooling and research process there is need to explore this area further. Implications: To improve education system extensive research in this area required. This system will work as an intellectual tool that provide us meaningful path towards financial and social life. Therefore, researchers should learn from previous studies to conduct further research on  Educational philosophical system.