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The Significance of the Individuals’ Time for Economic and Social Development

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  • Istrate, Georgeta-Marinela
  • Caragea, Nicoleta

Abstract

In the globalization context, the last decades have changed the national economies, and also affected the time allocation patterns for individuals and for the entire society. As an economic resource, time is perceived very different by people, because of various individuals’ norms and values, as well as the culture, traditions and the level of social and economic development of the country. The quality of life is a consequence of the structure of time allocation and the quality of every moment spent. The evolution of labour force and the increase of competitiveness, along with the modern standards of living and a new attitude related to employment are factors that have been leading to the erosion of traditional employment relationships while encouraging the development of new forms of work time. This paper will analyze the significance of the time use as an economic resource on the individuals, society and national economy based on the results of two survey carried out by National Institute of Statistics (Time Use Survey and Labour Force Survey).

Suggested Citation

  • Istrate, Georgeta-Marinela & Caragea, Nicoleta, 2009. "The Significance of the Individuals’ Time for Economic and Social Development," MPRA Paper 45498, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:45498
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    File URL: https://mpra.ub.uni-muenchen.de/45498/1/MPRA_paper_45498.pdf
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    References listed on IDEAS

    as
    1. Valerie A. Ramey & Neville Francis, 2009. "A Century of Work and Leisure," American Economic Journal: Macroeconomics, American Economic Association, vol. 1(2), pages 189-224, July.
    2. Istrate, Georgeta-Marinela & Caragea, Nicoleta, 2011. "Time Spent for Education – A Key Resource in the Social and Economic Development," MPRA Paper 45505, University Library of Munich, Germany.
    3. Istrate, Georgeta-Marinela & Caragea, Nicoleta, 2008. "Time-Constraint and Socio-Demographic Characteristics of population in Romania," MPRA Paper 45504, University Library of Munich, Germany.
    4. Istrate, Georgeta-Marinela & Caragea, Nicoleta, 2008. "Time Use and Work Arrangements in Romania," MPRA Paper 45506, University Library of Munich, Germany.
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    Cited by:

    1. Nicoleta Caragea, 2010. "Empirical Analysis of Time in Relation to Economic Development. A System of Time Accounts," Romanian Journal of Economics, Institute of National Economy, vol. 31(2(40)), pages 94-106, December.
    2. Voineagu, Vergil & Caragea, Nicoleta, 2010. "A New Approach of Time Use in National Economy," MPRA Paper 53206, University Library of Munich, Germany.
    3. Istrate, Georgeta-Marinela & Caragea, Nicoleta, 2010. "Working Time During the Economic Crisis and the Impact on Romanian Working Life," MPRA Paper 45503, University Library of Munich, Germany.

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    More about this item

    Keywords

    time use; quality of life; work time; economic and social development;
    All these keywords.

    JEL classification:

    • J22 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Time Allocation and Labor Supply

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