THE HUMAN CAPITAL – A LONG TERM INVESTMENTJournal: The Journal CONTEMPORARY ECONOMY (Vol.1, No. 4)
Publication Date: 2016-12-31
Authors : Cornelia Serena PAŞCA;
Page : 51-74
Keywords : human capital; investment in education; economic growth.;
Human capital reflects, on the one hand, physical and intellectual skills that characterize work and creative capacity, and on the other, the expenses incurred for optimizing and acquiring such skills. The importance granted to human capital through investment in education and research and development as well as defining the human capital concept, determining its origin and presenting its components and types, as well as the relation between education, human capital formation and economic growth, and equally the correlation between human capital and the allotment of proceeds (income) are the themes this article tackled. Correlation of the educational system supply and the structure and dynamic demand of labor market requires adaptation of workforce supply and human resources to the economic – social needs and the education and training of the same. Education plays a major part in human capital construction and in determining the opportunity of the individual from the economic point of view.
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