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Human Capital In Economic Theory And Practice

Author

Listed:
  • Prof. Dalia Simion Ph. D

    (University of Craiova Faculty of Economics and Business Administration Craiova, Romania)

  • Assist. Prof. Daniel Toba Ph. D

    (University of Craiova Faculty of Economics and Business Administration Craiova, Romania)

Abstract

In the current context, when the economic environment is marked by profound changes, the companies face a number of key issues like: globalization and thus increased competition, the development of information and communication technologies, change of consumer behavior, the greater role of intangible assets, all these factors affecting the competitiveness and development of firms. Human capital and its influence on economic growth and firm performance can contribute to strengthening the position of a country or company. In this article we focused on coverage over time, human capital in economic theory and practice of the factor of production to be minimized to internal resource of an organization that can provide a sustainable competitive advantage.

Suggested Citation

  • Prof. Dalia Simion Ph. D & Assist. Prof. Daniel Toba Ph. D, 2014. "Human Capital In Economic Theory And Practice," Revista Tinerilor Economisti (The Young Economists Journal), University of Craiova, Faculty of Economics and Business Administration, vol. 1(23), pages 95-100, November.
    • Handle: RePEc:aio:rteyej:v:1:y:2014:i:23:p:95-100
    as

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    File URL: http://feaa.ucv.ro/RTE/023-11.pdf
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    References listed on IDEAS

    as
    1. Jacob Mincer, 1958. "Investment in Human Capital and Personal Income Distribution," Journal of Political Economy, University of Chicago Press, vol. 66(4), pages 281-281.
    2. Gary S. Becker, 1962. "Investment in Human Capital: A Theoretical Analysis," NBER Chapters, in: Investment in Human Beings, pages 9-49, National Bureau of Economic Research, Inc.
    3. Yoram Ben-Porath, 1967. "The Production of Human Capital and the Life Cycle of Earnings," Journal of Political Economy, University of Chicago Press, vol. 75(4), pages 352-352.
    4. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    human capital; human development; knowledge economy; firms performance; economic growth; intangibles;
    All these keywords.

    JEL classification:

    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity

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