We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

Economics of Human Capital - Essay Example

Comments (0)
Within the macroeconomic perspective, many economists argue that the capabilities and knowledge of the workforce, including breakthroughs in production technology, are essential to economic development and to national and regional growth. Until the latter part of the 1980s,…
Download full paper
Economics of Human Capital
Read TextPreview

Extract of sample
Economics of Human Capital

Download file to see previous pages... he justification for this argument was that essentially the amount of available land for production was believed to be limited due to the fact that land cannot grow at the same pace as capital and labor, consequently, land becomes insufficient, and capital and labor in the end become saturated and less efficient and less profitable (Mauro & Fernandez 68). This essay discusses the role of human capital in economic growth.
Nevertheless, these early growth framework took in a fourth variable—knowledge, or technological development, that allowed available capital and labor to generate greater yields on specific amounts of land. The rate and extent of transformation of this fourth variable was viewed as exogenous to the framework—knowledge only grew constantly by itself and not as an outcome of investments or capital constituted within the framework. However, examinations of the potential sources of increases in national productivity over time revealed consistently that this inadequately known and non-quantifiable variable-- technological development-- comprised a substantial portion of overall economic development all over the 20th century (Qadri & Waheed 93). Obviously, economists did not accept the assumption that knowledge expanded without help, and hence several adjustments on this framework enable ‘labor’ input to expand not just by increasing work hours and people, but also by hypothesizing that the labor force’s human capital could, successfully, expand by means of training and education. This model is quite subjective, and, according to numerous economists, scarcely better than merely considering technological development as a residual variable that provides explanation of the portion of economic progress that cannot be clarified by expansion in physical or human capital (Becker(b) 57). During the 1980s, economists became fascinated with a modeling framework referred to as ‘New Growth Theory’, which viewed the role of growth in technological and ...Download file to see next pagesRead More
Comments (0)
Click to create a comment or rate a document
Human Capital /
Formal education and participation in ongoing training factors related to the workplace setting also help enhance human capital that every employee represents. The increase in the economic value of man gave rise to the concept of human capital. Conceptualized by Mark Blaug forty five years ago, this is embedded in the economic theory of human resources in the form of human capital theory (Blaug, 1976:827).
8 Pages(2000 words)Essay
Human Capital
It helps firm in strengthening its performance. Without a strategy, firm has no direction to guide them. Human Capital is referred to as a measure of the economic value of abilities, skills and experience of employees. This concept states that all labor is not equal and the value of each labor can be enhanced by investing in them.
3 Pages(750 words)Essay
Econometric Studies in Human capital Theory
The wage differentials and human capital framework has been the debate of microeconomics decisions and policy making. Human capital is a doctrine which states that human capital is investment which requires cost and pay premium return over the lifetime, in monetary or non-monetary form. It is suggested that high schooling yield higher returns.
4 Pages(1000 words)Essay
Human Capital
n incorporated in the principles of strategic planning, an understanding of the applicability of these processes in organizational management is relatively new. Today, as more companies recognize the benefits that organizational development and the role of human resource
5 Pages(1250 words)Essay
Managing Human Capital at Barclays Bank
Human resources are considered as the greatest assets of every organization. Therefore, recruitment, selection, training and retaining of efficient work force has a significant role in the success of an organization. Recruitment of efficient employees was always a challenging task for the management.
12 Pages(3000 words)Essay
Human capital
At the start of this chapter, we are presented with a definition of the human capital. The model shown provides the major supplier an explanation of gender differentials in economic outcomes. There is field work done by Nobel laureates Theodore, Gary Becker and Jacob Mincer that displays individuals.
4 Pages(1000 words)Essay
However, if one were to travel to other countries, to different parts of the United States, or even to their next door neighbor’s house, they may find that a contrasting image of God exists there (Fisher & Smart,
6 Pages(1500 words)Term Paper
Managing Human Capital Assignment
d that the desire to be eligible for such rewards would be sufficient reason to expect employees to consistently deliver the desired quality and quantity of service or output demanded of their job. In contemporary human resources management, however, it is now acquiesced that
12 Pages(3000 words)Essay
'Human capital' (economics)
increases human capital. The state of human capital in a country determines its level of progress and its capabilities No matter how rich a country is in terms of its natural resources, but if it does not invest in its human capital there is little that it can do to
2 Pages(500 words)Essay
An issue in the economic of human capital
Moreover, the main role of human education on economic development , growth of productivity and all the innovation is seen as a justification the government has made for education and gaining specific skills in job training. The
5 Pages(1250 words)Essay
Let us find you another Essay on topic Economics of Human Capital for FREE!
Contact us:
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us