Human capital intelligence and economic development

Alexander Maune

doi:10.21511/ppm.14(3-2).2016.13

Abstract

This article explored human capital intelligence and economic development in Zimbabwe with some examples adopted from Israel and many other countries. A qualitative-exploratory literature review methodology was used for the purpose of this study because of its suitability. The primary concern of the author was to have and provide an in-depth analysis and understanding of the multiple realities and truths pertaining to human capital intelligence and economic development in Zimbabwe. An inductive approach was adopted for the purpose of this study. The findings of this article will make it possible to generalise the role of human capital intelligence towards economic development of a country and to develop some valuable propositions for future studies. The findings showed that human capital intelligence plays a critical role in economic development, through laying a foundation for economic development, attracting foreign direct investment, personal remittances, as well as attracting venture capitalists. Empirical evidence from countries such as Israel shows the criticality of human capital intelligence development to economic development of a nation. This article will assist business managers, societal leaders, policymakers, as well as governments to understand the criticality of human capital intelligence towards the development of a company, society and nation at large. This article has, therefore, academic, societal and business value. Keywords: Zimbabwe, economic development, human capital, intelligence, intellectual capital. JEL Classification: O1, J41, O34

Highlights

Human capital intelligence has been described as a key economic driver (Schultz, 1961 and Benhabib and Spiegel, 1994) and many countries have invested much in this cause
Education has been viewed as a vital key to human capital intelligence and economic development, many societies often fail to establish viable educational and training systems that facilitate human capital intelligence and economic development in these societies (Adjibolosoo, 1998, p. 21)
Regardless of how much education an individual possesses in the modern world, as long as that education does not foster human capital intelligence development, it is unlikely that it will lead to economic development (Adjibolosoo, 1998)

Summary

Introduction

Human capital intelligence has been described as a key economic driver (Schultz, 1961 and Benhabib and Spiegel, 1994) and many countries have invested much in this cause. Human capital accumulation is of major significance in the process of economic development and growth Accumulating human capital involves costs, and in industrial societies these can be heavy in view of the length of the learning process. 18), intellectual human capital has become more important for both company and economic development than any other sources of competitive advantage, because only by means of knowledge can companies and countries gain competitive advantage.

Objectives

Methods

Findings

Discussion

Conclusion