THE LOSS OF INTELLECTUAL CAPITAL DUE TO DRUG ADDICTION AMONG THE ROMANIAN YOUTH

Cristian Silviu Banacu and Paula Stefania Frusinoiu

Proceedings of the INTERNATIONAL MANAGEMENT CONFERENCE, 2018, vol. 12, issue 1, 939-944

Abstract: The versatile nature of the concept of Intellectual Capital stems from its origin, evolution, and wide application, from public organisations, to private ones, from individual to academia, from economic analysis to national diagnose. Due to this ability to reveal the hidden elements that are sources of added value for a nation, the application of this concept at decision-making level was simply one step away, as, according to Bontis (2004), more and more states became aware that the resources of a nation are first of all its people, citizens, their level of education, personal culture, honesty, sense of civic responsibility. Since young people are the driving force of a nation, the challenges this population category faces should be at the heart of any policy decision. Drug use among young people continues to be an important public concern at global level because illicit drug use affects not only the user but also non-users, family members, the peers, the community and the society as a whole. The harms or negative consequences of drug use have been in the focus of researchers for several years now in the attempt to estimate the social cost of illegal drug use. Illicit drug use generates additional costs for healthcare, the justice system, social welfare, prevention interventions, costs related to education and research and a loss in productivity due to premature mortality. Additionally, lost productivity can be triggered by reduced labour participation, incarceration, hospitalization, and participation in treatment programs away from work. The purpose of this article is to generalize the concept of intellectual capital and place it in relation to the dynamic drug use phenomenon which affects young people. The results of the research are based on the analysis of academic investigations conducted by various authors and of publications of significant research and public bodies.

Keywords: intellectual capital; national intellectual capital index; national welfare; social cost; social cost of drug use; strategic management (search for similar items in EconPapers)
Date: 2018
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