Theory of Human Capital

 Theory of Human Capital Essay

Theory of Human Capital

What's Individual Capital?

Man capital refers to the inventory of competences, knowledge and personality attributes combined entirely to perform labour so as to create economic benefit. It is the attributes gained by a worker through education and experience.


Economists views on Human Capital

The set of skills owned by the member of staff of the organization Development of expertise is an important factor in production actions Human capital model reveals that investment in education has a great correlation with economic development and growth Economists view education because both buyer and capital good *

What about research…

Adam Smith (1776), Jean Baptiste State (1821), John Stuart Generator (1909), Bill Roscher (1878) and Henry Sidgwick (1901): were early on contributors to the literature upon human capital economics simply by suggesting in a variety of ways that humans are an purchase which creates a return A great many other early researchers recognized the idea but refused to consider people in the same way as physical commodities as a result of what continues to be termed " sentimentalism. ”

Most recent survey…

Schultz (1960): the quality of the workforce was a variable element in the economy and can be improved to increase your variable inside the economic equation, and therefore enhance productivity. Becker (1964): the investment in knowledge, abilities and overall health would not just benefit the individual; it could could also increase an employer's or country's human capital resource pool area and potential productivity. The two were honored the Nobel Prize in Economic Sciences *

Human being Capital pertains to…

Skills Knowledge

EDUCATION Investment Ability



Education & Skills

Education increases the productivity and productivity of personnel by raising the level of intellectual stock of economically effective human capacity Human Capital is the principle that purchase of more knowledge and skills raises the value of a person's individual capital,...