Creation and destruction of human resources in the process of economic growth: some thoughts on the Italian experience
by Gilberto Antonelli, Riccardo Leoncini
International Journal of Technology Management (IJTM), Vol. 9, No. 3/4, 1994

Abstract: Human capital formation is one of the main direct determinants of economic growth potential, and, especially of the growth potential of productivity. On the other hand, human resources, incorporating past investments in education and training, are among the direct determinants of the actual exploitation of growth potential. The first consequence of this dual economic role of human resources formation is the low degree of visibility of their relevance. This is because of the systematic delay between their design and use. Moreover, the systematic delay between design and use makes it difficult to maintain equilibrium in their reproduction, and induces complexity in policy measures in this field. It seems very difficult to coordinate such policy measures with the needs of the political cycle, which tends to underplay their role with respect to monetary and fiscal policy. Even more problematic is the matching with fast macroeconomic stabilization policy and structural adjustment policy. In the present work, the authors adopt this reference framework in order to analyse the main features of the demand for education in Italy in the last twenty-five years.

Online publication date: Sat, 23-May-2009

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