This paper is an exposition on the theoretical and practical relevance of educational philosophy to national development. It postulated that philosophical ideas have been responsible for shaping the development of societies through the channels of education. Accordingly the five indicators are health, empowerment, safety and security, ability to go about without shame, and meaning and value in one's own life. UNDP methodology with appropriate modifications is adapted to quantify development at individual level as well as aggregate social development. Results show that there exists high correlation between attainment of education and social dimension of development at individual level. This reflects on the importance of education in influencing the social and economic well-being of individuals.