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The Tracking of Industrial and Digital Revolutions and the Importance of Human Capital Development

Author

Listed:
  • Robert Daniel Stanescu

    (The Bucharest University of Economic Studies)

  • Alexandra Cristina Dinu

    (The Bucharest University of Economic Studies)

Abstract

The following paper highlights new approaches of comprehending the core aspect of human capital development within the ongoing process of new technological development era. The literature review dwells with headlining key aspects in relation to education and production, aspects that influence the ongoing development, as well as highlighting the importance of solid binding links which causes multiple issues along with its rewards. One of the prominent concern that highlights unusual issues, as well as unique rewards, represents the development and assimilation process of digitalization. In this regard, new atypical and unique jobs that appear within society, offers new possibilities together with new obstacles which need to be solved differently.

Suggested Citation

  • Robert Daniel Stanescu & Alexandra Cristina Dinu, 2021. "The Tracking of Industrial and Digital Revolutions and the Importance of Human Capital Development," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 532-537, December.
    • Handle: RePEc:ovi:oviste:v:xxi:y:2021:i:2:p:532-537
    as

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    References listed on IDEAS

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    1. Colin Crouch & Henry Farrell, 2004. "Breaking the Path of Institutional Development? Alternatives to the New Determinism," Rationality and Society, , vol. 16(1), pages 5-43, February.
    2. Tuan T. Chu & Jens Hölscher & Dermot McCarthy, 2020. "The impact of productive and non-productive government expenditure on economic growth: an empirical analysis in high-income versus low- to middle-income economies," Empirical Economics, Springer, vol. 58(5), pages 2403-2430, May.
    3. Petre Prisecaru, 2016. "Challenges of the Fourth Industrial Revolution," Knowledge Horizons - Economics, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 8(1), pages 57-62, March.
    4. Kneller, Richard & Bleaney, Michael F. & Gemmell, Norman, 1999. "Fiscal policy and growth: evidence from OECD countries," Journal of Public Economics, Elsevier, vol. 74(2), pages 171-190, November.
    5. Min Xu & Jeanne M. David & Suk Hi Kim, 2018. "The Fourth Industrial Revolution: Opportunities and Challenges," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 9(2), pages 90-95, April.
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    More about this item

    Keywords

    industrial revolution; digitalization; human capital development; path-dependence; future developments;
    All these keywords.

    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology

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