Language Education and Globalization

Abstract

Human capital, or more precisely the economy of intellectual capital, refers to the educational process, knowledge, information, ideas, skills and the well-being of individuals. This is, by far, the most important form of capital in modern economies. The success of individuals and whole economies are dependent upon the extent and quantity that individual societies are willing to invest in the intellectual capital of individuals. Research shows that the aggregate sum increases when investments are geared towards education, on-the-job training, individual's wellbeing, information, as well as research and development. Economic globalization and the information revolution foresee radical changes in the very essence of learning. With progressive substitution of universal and standard educational systems for virtual networks, schools will lose the function of being rational transmitters of systematic knowledge.