EDUCATION AND HUMAN CAPITAL AS ENGINES FOR ECONOMIC GROWTH. A

Csaba Csintalan () and Alina Badulescu
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Csaba Csintalan: Doctoral School in Economics, University of Oradea, Oradea, Romania,

Annals of Faculty of Economics, 2015, vol. 1, issue 2, 665-673

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.

Keywords: education; investment; economic growth; productive human capital (search for similar items in EconPapers)
JEL-codes: A11 I25 O15 (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (2)

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