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Economic Growth Also Depends on the Quality of Workforce

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  • Cristiana Matei

    (Advanced Studies, Romanian Academy, Calea Victoriei, Bucharest, Romania)

Abstract

In the general framework concerning the theory and practice of economic growth, which has practically been a concern for all countries since the post war period, the role and importance of labour resources occupy an increasingly important place, we could even say the most important place. The special concern in this problem is determined, in our opinion, by at least two circumstances: firstly, labour recruitment is the main production force of society and, therefore, the main resource of its economic potential and dynamism. Capitalizing all existing labour resources in the national economy of a country and using them as rationally as possible ensures the increase of national income and the increase of the material and cultural living standards of the people in that country; secondly, but not in terms of importance, workforce, by its nature, feels the effects of contemporary technical-scientific progress in the most direct way, which contributes to the increase, or even change, of the place and role of labour resources in the process of economic growth. Instead of the more or less traditional division of economic growth factors, where the main emphasis was on the increase of physical capital, a new division appears in which an increasingly important role is played by human capital, human resources.What makes labour resources a key factor of economic development nowadays is not only the quantitative aspect, whose role generally tends to decrease compared to the previous period, but also the qualitative aspect, from the point of view of training and professional qualification. This paper attempts to analyse the dependence of the economic growth process on the level of training and the structure and professional mobility of the workforce.

Suggested Citation

  • Cristiana Matei, 2018. "Economic Growth Also Depends on the Quality of Workforce," Manager Journal, Faculty of Business and Administration, University of Bucharest, vol. 27(1), pages 64-73, December.
    • Handle: RePEc:but:manage:v:27:y:2018:i:1:p:64-73
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    References listed on IDEAS

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    1. Helge Peukert, 2001. "The Schmoller Renaissance," History of Political Economy, Duke University Press, vol. 33(1), pages 71-116, Spring.
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