HUMAN CAPITAL IN ROMANIA - BETWEEN CAPITALISATION AND DISSIPATION - A RETROSPECTIVE APPROACH OVER THE LAST CENTURY
A century of human capital evolution in Romania, from the labour market perspective, meant the transition from the strictly quantitative approach, namely from the labour force / labour resources (due to the emergence of the unemployment phenomenon, but also the industrial relations development) to...
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| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Nicolae Titulescu University Publishing House
2018-05-01
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| Series: | Challenges of the Knowledge Society |
| Subjects: | |
| Online Access: | http://cks.univnt.ro/uploads/cks_2018_articles/index.php?dir=5_economic_sciences%2F&download=CKS_2018_economic_sciences_023.pdf |
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| Summary: | A century of human capital evolution in Romania, from the labour market perspective, meant the transition from the
strictly quantitative approach, namely from the labour force / labour resources (due to the emergence of the unemployment
phenomenon, but also the industrial relations development) to the integrative human capital one (tangible and intangible) in
which skills(professional and those so called „soft”) and lifelong learning are associated with technology transfer while decent
and efficient employment becomes conditionality to company efficiency. The labour market was developed as the most
regulated market, highly dependent on the business environment and labour demand in number and/or skills. Being related to
technological transfer human capital becomes a factor of performance and development through its three dimensions:
quantitative (indicators that quantify employment and labour), qualitative (the efficiency of labour as production factor and
the comparative advantages of education) and behavioural (aspects of industrial relations), in both micro and macroeconomic
approach. The paper aims to present the evolution and main peculiarities of the human capital in Modern Romania during the
last 100 years, focussed on economy profile - competitive / market oriented (1918- 1947 and after 1989) or centralized (1948-
1989). How much we gain and lost in preserving, valuing and efficient allocation of the most valuable asset of a nation?
Finally, looking forward to economic, social and societal challenges we are desingning some benchmarks and select few
relevant policy recommendations for responsible and accountable management of this wealth of the nation |
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| ISSN: | 2068-7796 2068-7796 |