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Education And Human Capital As Engines For Economic Growth. A

Author

Listed:
  • Csaba Csintalan

    (Doctoral School in Economics, University of Oradea, Oradea, Romania,)

  • Alina Badulescu

    (Doctoral School in Economics, University of Oradea, Oradea, Romania,)

Abstract

The paper approaches some key issues regarding the concept of education and human capital and their role in promoting economic growth and development and empowering people. Education is widely considered as not a cost but a real and effective investment. Human capital, as part but also as a result of the education system, has to be connected to the labor market reality and requirements, so that the nowadays education could be effective for tomorrow's economy. It is necessary to form an active labor force, involved in the promotion of the economic growth, ensuring financial remuneration according to the work performed, welfare, consumption, taxes due to the state etc. Education is seen as the most cost-effective investment in people, which transforms the individuals and the society, but also contributes to the economic system of a state, through its role to ensure labour force. Education is the product of many actors involved, jointly acting, such as family, social environment, school, church, cultural institutions, media and associative structures. Most of all, education must to be a conceptual framework of each of us as a constant desire to become more educate. Education has no borders, no barriers to overcome at the informational level. It must be acquired, supported and constantly assessed to become increasingly competitive. Intellectual human capital within the education system is an integral part of economic heritage. It can lead, through the value of work performed, to economic growth. Regarding the frame of the relationship between education development and economic growth, the starting point could be identifing the appropriate or inappropriate workforce for specific economic activity, the actors can contribute to economic growth through their subsequent training in the education system, corelating the individual productive capacity with existing market capacity.

Suggested Citation

  • Csaba Csintalan & Alina Badulescu, 2015. "Education And Human Capital As Engines For Economic Growth. A," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(2), pages 665-673, December.
    • Handle: RePEc:ora:journl:v:1:y:2015:i:2:p:665-673
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    File URL: http://anale.steconomiceuoradea.ro/volume/2015/n2/079.pdf
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    References listed on IDEAS

    as
    1. Annamaria Di Bartolo, 1999. "Modern Human Capital Analysis: Estimation of US, Canada and Italy Earning Functions," LIS Working papers 212, LIS Cross-National Data Center in Luxembourg.
    2. Gary S. Becker, 1962. "Investment in Human Capital: A Theoretical Analysis," NBER Chapters, in: Investment in Human Beings, pages 9-49, National Bureau of Economic Research, Inc.
    3. Theodore W. Schultz, 1967. "The Rate of Return in Allocating Investment Resources to Education," Journal of Human Resources, University of Wisconsin Press, vol. 2(3), pages 293-309.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Peng Li & Xiangrong Li & Gonglin Yuan, 2023. "Cross-Regional Allocation of Human Capital and Sustainable Development of China’s Regional Economy—Based on the Perspective of Population Mobility," Sustainability, MDPI, vol. 15(12), pages 1-32, June.
    2. Mihaela Moca & Alina Badulescu, 2021. "E-Learning And M-Learning Content Generation As Learning Support In Economic Education," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(1), pages 121-129, July.

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    More about this item

    Keywords

    education; investment; economic growth; productive human capital;
    All these keywords.

    JEL classification:

    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
    • I25 - Health, Education, and Welfare - - Education - - - Education and Economic Development
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration

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