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Personal Capital and Emotional Intelligence: An Increasingly Important Intangible Source of Economic Growth

Author

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  • John F. Tomer

    () (Department of Economics and Finance, Manhattan College)

Abstract

This paper focuses on a new source of economic growth, personal capital formation, and provides an explanation for a part of economic growth that has heretofore been unexplained. Personal capital is the human capacity reflecting the quality of an individual's psychological, physical, and spiritual functioning; it is a capacity fundamentally different from cognitive ability. Spending effort to improve emotional intelligence, often in order to improve job performance, is the essence of what successful investment in personal capital involves. Given the increasing investment in it and the evidence of its importance, economists can no longer afford to neglect the contribution of personal capital to economic growth.

Suggested Citation

  • John F. Tomer, 2003. "Personal Capital and Emotional Intelligence: An Increasingly Important Intangible Source of Economic Growth," Eastern Economic Journal, Eastern Economic Association, vol. 29(3), pages 453-470, Summer.
  • Handle: RePEc:eej:eeconj:v:29:y:2003:i:3:p:453-470
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    File URL: http://web.holycross.edu/RePEc/eej/Archive/Volume29/V29N3P453_470.pdf
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    References listed on IDEAS

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    1. John F. Helliwell & Robert D. Putnam, 1995. "Economic Growth and Social Capital in Italy," Eastern Economic Journal, Eastern Economic Association, vol. 21(3), pages 295-307, Summer.
    2. Stephen Knack & Philip Keefer, 1997. "Does Social Capital Have an Economic Payoff? A Cross-Country Investigation," The Quarterly Journal of Economics, Oxford University Press, vol. 112(4), pages 1251-1288.
    3. La Porta, Rafael, et al, 1997. "Trust in Large Organizations," American Economic Review, American Economic Association, vol. 87(2), pages 333-338, May.
    4. N. Gregory Mankiw & David Romer & David N. Weil, 1992. "A Contribution to the Empirics of Economic Growth," The Quarterly Journal of Economics, Oxford University Press, vol. 107(2), pages 407-437.
    5. Barro, Robert J. & Lee, Jong-Wha, 1994. "Sources of economic growth," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 40(1), pages 1-46, June.
    6. repec:hrv:faseco:30726298 is not listed on IDEAS
    7. Robert E. Hall & Charles I. Jones, 1999. "Why do Some Countries Produce So Much More Output Per Worker than Others?," The Quarterly Journal of Economics, Oxford University Press, vol. 114(1), pages 83-116.
    8. Greg J. Duncan & Rachel Dunifon & Jeanne Brooks-Gunn, 2001. "As Ye Sweep, So Shall Ye Reap," American Economic Review, American Economic Association, vol. 91(2), pages 150-154, May.
    9. Melissa Osborne & Herbert Gintis & Samuel Bowles, 2001. "The Determinants of Earnings: A Behavioral Approach," Journal of Economic Literature, American Economic Association, vol. 39(4), pages 1137-1176, December.
    10. Goldsmith, Arthur H & Veum, Jonathan R & Darity, William, Jr, 1997. "The Impact of Psychological and Human Capital on Wages," Economic Inquiry, Western Economic Association International, vol. 35(4), pages 815-829, October.
    11. B. F. Kiker, 1966. "The Historical Roots of the Concept of Human Capital," Journal of Political Economy, University of Chicago Press, vol. 74, pages 481-481.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Tomer, John F., 2011. "Enduring happiness: Integrating the hedonic and eudaimonic approaches," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 40(5), pages 530-537.
    2. Darlene Bay & Kim McKeage, 2006. "Emotional Intelligence in Undergraduate Accounting Students: Preliminary Assessment," Accounting Education, Taylor & Francis Journals, vol. 15(4), pages 439-454.
    3. Aleknavičiūtė Rasa & Skvarciany Viktorija & Survilaitė Simona, 2016. "The Role of Human Capital for National Innovation Capability in Eu Countries," Economics and Culture, De Gruyter Open, vol. 13(1), pages 114-125, June.
    4. Tomer, John F., 2013. "Stemming the tide of obesity: What needs to happen," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 42(C), pages 88-98.
    5. Tomer, John F. & Sadler, Thomas R., 2007. "Why we need a commitment approach to environmental policy," Ecological Economics, Elsevier, vol. 62(3-4), pages 627-636, May.
    6. repec:wea:worler:v:2012:y:2012:i:1:p:5 is not listed on IDEAS
    7. Cole, Kenneth & Daly, Anne & Mak, Anita, 2009. "Good for the soul: The relationship between work, wellbeing and psychological capital," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 38(3), pages 464-474, June.
    8. Katerina Dimaki & Vasilis Angelis & Maria Mavri, 2011. "Identifying Clusters of European Regions Based on Their Economic and Social Characteristics," ERSA conference papers ersa10p1116, European Regional Science Association.
    9. John F Tomer, 2012. "Brain Physiology, Egoistic and Empathic Motivation, and Brain Plasticity: Toward a More Human Economics," World Economic Review, World Economics Association, vol. 2012(1), pages 1-76, September.

    More about this item

    Keywords

    Economic Growth; Growth;

    JEL classification:

    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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