How Does Human Capital Contribute To Economic Growth And Development?
Posted By: Maurin, Princess Crystal
About this Talent:
Human Capital is one of the essential elements why our economy is developing and g rowing. Without this, we surely cannot enhance our economy to be in a better, bigger, and greater economy. Basically, human capital refers to the economic value of a worker’s experience and skills. It is the investments made in and acquired during the course of a person's life in knowledge, skills, and health that allow them to reach their full potential as contributing members of society. That is why they are called human capital because people cannot be separated from their knowledge, skills, health, or values in the way they can be separated from their financial and physical assets.
I believe that there is a strong relationship between human capital and economic growth, in which it can help boost our economy. Human capital helps contribute to economic growth and development by investing in education, on-the-job training, and health that enhances the capacities of the workers or employees of a company. So when the employees or workers’ capacities are enhanced then it allows an economy to grow. Because as employees do their job properly, then there are more opportunities for them to come that will help the economy grow and develop. When human capital increases or expands in fields or areas like research, education, and management, it leads to increases in innovation, social well-being, increased levels of production and productivity, and higher participation rates, in which all of it supports economic growth. Investing in workers can also be a contributing factor of human capital to create better employment conditions in economies throughout the world.
Salient Features:
| Job Price:400 | Duration : 24 hrs |
| Location: Rs.Philippines | Languages Known : english |
