EMPIRICAL REFLECTIONS REGARDING THE BENEFITS OF THE HUMAN CAPITAL

Simona Buta (), Rozalia Kicsi () and Angela –Nicoleta Cozorici ()
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Simona Buta: The “Stefan cel Mare” University of Suceava, Romania
Angela –Nicoleta Cozorici: The “Stefan cel Mare” University of Suceava, Romania

The Annals of the "Stefan cel Mare" University of Suceava. Fascicle of The Faculty of Economics and Public Administration, 2010, vol. 10, issue 1(11), 88-94

Abstract: Starting from the hypothesis that the impact of the human capital on the economic performances does not only depend on the quality, quantity and type of the human resources, but also on a large number of other factors, such as the meeting between the work demand and supply, the degree of satisfaction obtained at the place of employment, the capacity of a country to attract high qualified people from other countries or the measure in which the companies train their employees, the present paper tries to highlight the direct and indirect effects generated by the education. From the perspective of individuals, the economic benefits of the human capital are the increase of the incomes; the wage earnings increase with each level of education. Those who reached the high school, post high school or university level enjoy substantial advantages in comparison with people of the same sex that did not graduate from high school. Also, the wage earnings offered by the education grow at the same time with the age; to those with university studies, the incomes are relatively bigger, but at an advanced age. With few exceptions, women earn less than men, with similar levels of education. From the perspective of national economies, it was noticed that the more educated the countries are, they develop faster because the superior level of training gives the possibility to the workforce to innovate new technologies and to adapt the existent ones to the local production. Besides the economic benefits, education can bring other individual benefits, such as: the growth of the health and nourishment level, a more favorable environment , a better political and community participation, a lower criminality rate, the growth of life expectancy, a larger movement liberty, etc.

Keywords: human capital; education; health; wage earnings; economic growth; social welfare. (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:scm:ausvfe:v:10:y:2010:i:1(11):p:88-94

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