Education and Human Capital Formation

Adolfo Figueroa

Chapter Chapter 2 in Growth, Employment, Inequality, and the Environment, 2015, pp 11-27 from Palgrave Macmillan

Abstract: Abstract Human capital refers to production skills embodied in workers. According to standard economics, human capital plays an important role in the economic process; on the one hand, human capital is as important as machines and technology in the production process; on the other hand, higher human capital implies higher labor productivity and higher incomes for workers; higher human capital also requires higher schooling years, which give workers the basic capacity to learn skills.

Keywords: Labor Market; Human Capital; Social Group; Sigma Model; Oral Language (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-50697-9_2

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DOI: 10.1057/9781137506979_2

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