The key to increasing competitiveness is investing into human resources

Authors

  • Magdolna Csath Szent István University, Faculty of Economics and Social Sciences

DOI:

https://doi.org/10.18531/Studia.Mundi.2018.05.02.87-100

Keywords:

Fourth industrial revolution, human resources, intangibles, education, life-long learning

Abstract

This paper focuses attention on the fact that the V4 (Visegrád) countries are not equally well prepared to capitalize on the opportunities offered by the fourth industrial revolution because of the differences in the quality and skills of their human resources. On top of this they lag behind the more developed competitor countries in Western Europe in almost all major human
indicators. Nine indicators describing human and knowledge characteristics are analyzed for the V4 and 5 developed countries.
In some cases Poland stands out with a slightly better result, but together as a group the V4 countries lag behind for all the analyzed indicators compared to the 5 developed countries. Figure 10 which summarizes the results of 5 key indicators proves this problem. The article ends by suggesting that unless the V4 countries start putting stronger emphasis on developing human and knowledge resources they will lose a historic opportunity for becoming a successful actor in the ongoing processes of the fourth industrial revolution.

Author Biography

  • Magdolna Csath, Szent István University, Faculty of Economics and Social Sciences

    professor emeritus
    E-mail: Csath.Magdolna@gtk.szie.hu

     

References

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HCSO: Hungarian Central Statistical Office in cooperation with statistical offices of Czech Republic, Poland and Slovakia (2018): Main Indicators of the Visegrad Group Countries. Budapest, Hungary

Haskel J., Westlake S. (2018) : Capitalism without capital. The rise of the intangible economy. Princeton, Oxford. Princeton University Press.

Nedelkoska, L. , Quintini, G. (2018): Automation, skills use and training. OECD Social, Employement and Migration Working Papers, No. 202, OECD Publishing, Paris. Http://dx.doi.org/10.1787/2e2f4eea-en

The Economist Intelligence Unit (2018): The Automation Readiness Index. Who is ready for the coming wave of automation? London. UK. Www.automationreadiness.eiu.com/static/download/PDP.pdf

Toffler, A. (1970): Future Shock. Random House

World Economic Forum (2016): The 10 skills you need the thrive in the Fourth Industrial Revolution. Davos, Switzerland. Https://www.weforum.org/agenda/2016/01/the-10-skills-you-need-to-thrive-in-thefourth-industrial-revolution)

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Published

2018-06-28

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