HUMAN CAPITAL DEVELOPMENT - NEW CHALLENGES IN THE CONTEXT OF KNOWLEDGE-BASED ECONOMY
HUMAN CAPITAL DEVELOPMENT - NEW CHALLENGES IN THE CONTEXT OF KNOWLEDGE-BASED ECONOMY

Summary/Abstract: The new technological, informational and communicational changes we have seen in recent decades have marked the transition from natural resources-based economy to knowledge-based economy. In the new knowledge economy the wealth is based on knowledge acquired and their use and not on material factors of production. In this context, human resources, along with information resources, acquires a special importance and are experiencing upward increasingly strong. Experts now agree that human capital is the fundamental factor of overall progress and long-term investment in human capital development has effects on all levels: individual, organizational, national and global level. This paper presents some aspects on the significance of human capital development in the context of knowledge-based economy, emphasizing the importance of lifelong education and training.

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