The Potential Of The Investment In Education In Creating Socio-Economic Development In The New Economy And The Knowledge-Based Society
AbstractCompared with classical economics, the new knowledge economy and learning society gets another new framework for addressing specific facets and therefore is no longer centered n the transfer of information, but becomes a dynamic process in which individuals learn how to continuously learn, how to access new opportunities to explore and exploit effective and timely information in order to transform it into new knowledge. In this new context in which human skills and knowledge are core components of the strategic economic and social system, traditional factors of production lose their centuries supremacy and become secondary. Paraphrasing Quash professor at the London School of Economics, robust growth in investment in intangible assets facilitates the so-called “cognitive domains” in which “ideas are worth billions, while the products still cost less. “ (Suciu, 2004). Thus, more investment in education leads to an increased income which leads to wealth and in this way contributing to society development.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Alexandru Ioan Cuza University, Faculty of Economics and Business Administration in its journal Review of Economic and Business Studies.
Volume (Year): (2011)
Issue (Month): 7 (May)
investment in education; socio-economic development; knowledge;
Find related papers by JEL classification:
- I21 - Health, Education, and Welfare - - Education - - - Analysis of Education
- I25 - Health, Education, and Welfare - - Education - - - Education and Economic Development
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Jean Luc De Meulemeester & Denis Rochat, 1995.
"A causality analysis of the link between higher education and economic development,"
ULB Institutional Repository
2013/1573, ULB -- Universite Libre de Bruxelles.
- de Meulemeester, Jean-Luc & Rochat, Denis, 1995. "A causality analysis of the link between higher education and economic development," Economics of Education Review, Elsevier, vol. 14(4), pages 351-361, December.
- Kitaura, Koji, 2009. "Child labor, education aid, and economic growth," Journal of Macroeconomics, Elsevier, vol. 31(4), pages 614-620, December.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sireteanu Napoleon-Alexandru).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.