Human Capital, Education and Training

Vani Borooah

Chapter 4 in Growth, Unemployment, Distribution and Government, 1996, pp 30-37 from Palgrave Macmillan

Abstract: Abstract Human capital refers to the stock of acquired skills, knowledge and abilities of human beings. Underlying this concept is the idea that such skills and knowledge enhance productivity and, moreover, they do so by enough to justify the expenditure undertaken to acquire them. Thus, spending to increase the stock of human capital should be viewed as ‘investment’, not as ‘consumption’. The return to investment in human capital is the increased amount of output that results from an expansion (and deepening) of skills and knowledge.

Keywords: Human Capital; High Education System; Export Performance; Compulsory Schooling; Human Capital Formation (search for similar items in EconPapers)
Date: 1996
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DOI: 10.1057/9780230373006_4

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