ipl-logo

Human Capital

1331 Words6 Pages

Human capital has been identified as a key stimulus of economic development. The theoretical models of economic growth have underscored the role of human capital. The empirical analysis of growth for a broad group of countries shows that the school attainment has positive effect on growth. It has been widely observed that increases in national output have been large compared with the increases of land, man-hours, and physical reproducible capital. Investment in human capital is probably the major explanation for this difference. As an economic concept human capital is at least two centuries old, but its incorporation into the mainstream of economic analysis and research is a new and lively development of the past two decades.The need for …show more content…

Many theoretical models of economic growth, such as those of Nelson and Phelps (1966); Lucas (1988); Becker, Murphy, and Tamura (1990); Rebelo (1992); and Mulligan and Sala-i-Martin (1992), have emphasized the role of human capital in the form of educational attainment. Empirical studies of growth for a broad cross-section of countries, such as those by Romer (1990a), Barro (1991), Kyriacou (1991), and Benhabib and Spiegel(1992), have used proxies for human capital. These studies have, however, been hampered by the limited educational data that were available on a consistent basis for a large number of countries. The relationship between Human Capital and Economic Growth being established in the changing dynamics of the world is studied here. To unify an index applicable to all economies is the hypothesis for this literature …show more content…

A country can improve its technology level by imitating from the frontier or by innovating new knowledge. An economy which is lagging far behind the world technology frontier can improve its technology level by allocating its labor force mainly into imitation. Similarly, an advanced economy can progress technologically by innovating new knowledge. There exists an optimal composition of skilled and unskilled human capital and by implementing that appropriate policy an economy can converge to the world technology frontier if the world technology frontier is not growing at a very faster rate. That is, an optimal education policy is crucial for both technologically developing and developed

Show More
Related
886 Words | 4 Pages

However, the future was not globalized in the way America thought it would be. Rather than America just being the “brains” and allowing other countries to do the laborious work, countries have been growing and becoming economically stronger. The unemployed were supposed to find education to be successful, but in this newly globalized world, education is more commonly found and not just exclusive to more powerful countries such as the United

Read More
774 Words | 4 Pages

There are many factors that are discussed in this article that effect a person’s opportunities. In this article the author uses analytic statements to help express her research and her ideas. I do not believe that the author of this article is biased in anyway and I think she has done a great job of presenting her argument in an intelligent, factual way.

Read More
1733 Words | 7 Pages

First of all, the development of the human capital of the nation through education

Read More
381 Words | 2 Pages

An increased number of citizens who have obtained additional education will, as shown by research ["A Well-Educated Workforce Is Key to State Prosperity. " Economic Policy Institute. N.p., n.d. Web. 9 Apr. 2017.] , result in a happier, higher paid workforce who will undoubtedly buy more goods and stimulate the

Read More
1430 Words | 6 Pages

Human capital is referred to, “the talents that we have to do our jobs” (Aulette and Wittner 192). Some of the believe held toward women in the work force

Read More
758 Words | 4 Pages

1.7.1 intellectual capital Since 1990, intellectual capital has been an interesting topic for researches and practitioners in European countries and Asia as well. Literature provides a number of definitions for intellectual capital; for example, IC is “a stock of focused, organized information that the organization can use for some productive purpose” (Edvinsson & Sullivan 1996, p. 357). Intellectual capital “focuses on organizing the knowledge resources in order to make knowledge manageable and is about actions and activities linked with knowledge, which are not easy to represent” (Mouritsen et al. 2001a: EmidiaVagnoni Chiara Oppi , 2015, p. 335).According

Read More
969 Words | 4 Pages

1.1 Background of the Research Technology has always develop for a long time. Until today, it is still develops at a stunning pace. As a matter of fact, technology has touched every aspect of life; from the way we move by using a horse changed into automobile, from walking on the land to flying in the air and reach farther distance. The products we are using in our daily life also produced by the technology. Under those circumstances, including the economy, politics, and also society, are affected by technology.

Read More
495 Words | 2 Pages

The world is ever changing through technological advances, innovative ideas and a need to further advance our society. Innovation has become an essential part of society. Individual viewpoints have been provided to understand concepts leading to improvement however the most prevailing viewpoints being that of Gerhard Lenski, Leslie White, and Alvin Toffler. To get a predominant cognizance of these thoughts, it is fundamental to take a look at and get these three viewpoints and the crucial part they play in depicting the improvement for development. Gerhard Lenski specified that technological progress is the motivation behind civilization evolving throughout history.

Read More
721 Words | 3 Pages

Technology can be defined as “the branch of knowledge that deals with the creation and use of technical means and their interrelation with life, society, and the environment”. (n.d.) Therefore, when we speak of technological evolution we can say that it is an “innovation and technology related hypothesis that describes the fundamental change of society through technical development”. Different theorists have their own perspective on the evolution of technology but, although each of their views differs from another, they shared certain common features, mechanism, and incidence in technology. Some theorists have developed distinct approaches to understanding the nature of the technological process and the relationship between technological development and the social world.

Read More
1200 Words | 5 Pages

The notion that education generates sufficient external benefits, either through higher levels of economic growth spillovers is examined and found lacking. Even under conditions of market failure, government failure is omnipresent and sufficiently. Through education provides positive externality and that university education needs to be subsided the government might not have enough money to pay for education which might also reduce the funds paid by the

Read More
1941 Words | 8 Pages

More and more countries are emerging on the economic as well as the educational level. As Nelson MANDELA said “Education is the most powerful weapon which you can use to change the world”. Many countries have understood that fact. Mostly African countries start realizing that their economy depend on young, educated young. IN SENEGAL, education began one of the most domain to invest in.

Read More
911 Words | 4 Pages

In a company Human Resource is a very important part of the strategic plan. The HR department is the go-to when a company decides how to approach a problem or gain Ideas. If there needs to be hiring, the HR department will take care of it. They will provide the proper training and tools to achieve the organizations goals. There must be a strategic plan put in place that way everyone is on the same page internally within the company to be successful outside of the company.

Read More
1193 Words | 5 Pages

The human development index proves that countries where children with few years of education are overall less developed. South Korea’s recent transformations shows how important a strong education system truly is. Thirty years ago it was a low income country with 78% of it’s population illiterate because only 40% of children were able to attend secondary school. After the country decided to invest money in their education system, all children had to opportunity to attend secondary school, thus their economy skyrocketed.

Read More
2696 Words | 11 Pages

Education differs dramatically between developing and developed countries. Researchers have found that education impacts earnings and economic growth. Poor children, with a lack of good education, are most likely to get low paying incomes. Poor areas and poor children who do not perform well in school due to lack of resources, poor education system.

Read More
1571 Words | 7 Pages

INTRODUCTION Economic growth is defined as the increased capacity of an economy to be able to produce goods and services in comparison from one period of time to another. This is figured by the genuine Gross Domestic Product (GDP) and development, and is measured by utilizing genuine terms such as “Balanced Inflation”. These terms help to remove any distorted views on the perceived outcome of inflation on the cost of merchandises produced. Likewise, Economic growth is related to the high expectations in a person’s standard of living. If the standards are high, it wouldn’t be beneficial for the economy as the working class individuals will face a lot of trouble.

Read More

More about Human Capital

Related Topics

Open Document