Education, the economic development pillar

The theme approached, starts from the idea that the economic value of education is depending on the degree in which school answers to the real life requirements, from the point of view of the quality of human resource, as well as human capital product. The paper proposes a conceptual-theoretical clarification of essential concepts necessary for direct and indirect understanding, between education and socio-economic development, and how it was shaped over time the economic role of education through human capital and how this was reflected in growth theory and economic development. The results we obtain will lead to the issue of strategies, solutions and measures that will contribute to the development of society and the increase in the quality of life for the population. The proposed analysis points out that investment in human capital have a significant impact on the economic growth of every country, thus we consider human capital to be more important than any natural richness that a nation can have. (C) 2015 The Authors. Published by Elsevier Ltd.