Akademik Veri Yönetim Sistemi
Global Conferences on Education and Research, Florida, Amerika Birleşik Devletleri, 16 - 19 Aralık 2024, ss.50-51
The human capital approach, introduced in
the 1960s, has been pivotal in connecting education and skills to personal
income, prompting a shift in public expenditure to view education as an
economic investment rather than merely a cost. This theory underscores
education’s critical function in the economy, suggesting that it could
potentially alleviate poverty, inequality, and social exclusion—especially
within a knowledge-based economy. However, the post-pandemic
landscape in the United States has revealed significant increases in
socioeconomic inequality and social exclusion, challenging the optimistic projections
for the future workforce. The disruption caused by the COVID-19 pandemic
highlighted the connection between human capital, gross domestic product, and
per capital income, affecting nations across the income spectrum. The rise of
remote work has underscored universities' need to equip individuals
with the skills to thrive alongside artificial intelligence in evolving job
markets. The World Bank, as a leading development finance institution, plays a
significant role in shaping education reforms and policies in this context. This
study uses World Bank data to evaluate the importance of education in supporting tomorrow's workforce, aligning with the human capital approach and advancements in labor-substituting technologies. It will explore the
fundamental question of education’s role in building human capital through a
systematic literature review of 40 publications and a time series analysis of
the World Development Reports from 1978 to 2024. The article provides insights
into how the World Bank influences education policy formation while examining
the relationship between education, human capital, and economic growth,
ultimately contributing to a broader understanding of educational strategies in
the face of evolving economic challenges.
Keywords: Human Capital, Skilled Workforce, Education, World Bank, Remote Work, Economic Growth, Poverty