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Economic Scale of Education

In: Education and Economic Development

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  • Daniela-Mihaela Neamţu

    (Ştefan cel Mare University of Suceava)

Abstract

In H. Simon’s opinion, a laureate of the Nobel Prize, in his effort to explain the complexity of global dynamics based on knowledge, education was “the number one component of economic development.” Thus, it was obvious that by accelerating the dissemination of knowledge in the worldwide economy, the main competitive force worldwide is the quality of human resources. Moreover, the quality of human resources and individual skills are related to the quality of the knowledge acquired during the school years. Access to education, especially higher education, is sometimes hindered by high costs. Educational consumers do efficiency cost calculus before making a decision on investing in their own training because any person when he or she needs to decide on anything for his or her own benefit focuses on satisfying certain needs or wishes to improve their condition to evolve and reach a landmark in their personal development (Symanski & Henard, 2001).

Suggested Citation

  • Daniela-Mihaela Neamţu, 2023. "Economic Scale of Education," Springer Books, in: Education and Economic Development, chapter 0, pages 71-100, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-20382-4_4
    DOI: 10.1007/978-3-031-20382-4_4
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