Human capital – an important resource or impediment in the development of the economy?

Silvia Dumitrescu-Popa and Elena-Iulia Chiță
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Silvia Dumitrescu-Popa: Bucharest University of Economic Studies, Romania
Elena-Iulia Chiță: Bucharest University of Economic Studies, Romania

Theoretical and Applied Economics, 2023, vol. XXX, issue Special, Summer, 144-155

Abstract: Society is the environment in which we are born, develop, live and then die. Whether we are aware of it or not, each of us has our place and role in society, occupying a certain step on the societal ladder. Then, it depends only on us to advance on this ladder. At the same time, we live in a society characterized by the overwhelming presence of modern technological devices, which reduce the distances between people and lead to the birth of a new reality, the virtual one. In general, modern society has a lot of advantages over previous generations. The purpose of this article is to trace the importance of the individual. An educated and skilled workforce is essential for the development of industries and businesses, which creates employment opportunities and increases productivity. Educated individuals can also lead to innovation and technological advancements, which further boost economic growth. But in these times some innovations create fewer job opportunities for some work segments. In this case, we raise the question: is the human capital an important resource or an impediment?

Keywords: resource; development; economy; human capital. (search for similar items in EconPapers)
Date: 2023
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