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Theoretical and Applied Economics
No. 12 / 2012 (577)

Controversies concerning the connection higher education – human capital – competitiveness

The Bucharest University of Economic Studies
The Bucharest University of Economic Studies

Abstract. Based on human capital theory, initiated by some representatives of the new school in Chicago in the second half of the twentieth century (Th. W. Schultz, G. Becker and G. Stigler), we see that there is a theoretical vein-slogan: "Man is the most precious wealth of a country," and if we corroborate this slogan with an adaptation of what Adam Smith stated in the eighteenth century – "A country is rich if it has rich/educated individuals", we reason, based on the literature review, that between higher education, human capital and competitiveness there is an indestructible link, influencing, in its turn, the economic growth and development. This paper aims to highlight the main elements describing the link existing between higher education, human capital and competitiveness, bringing to the fore the Romanian reality.

Keywords: human capital; competitiveness; higher education; economic growth; controversies.

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