Importance of Human Capital in Economicdevelopment

HUMAN CAPITAL AND ITS ROLE IN ECONOMIC evolution: 1. Introduction: The modern economists be of the view that vivid resources i...e timberland minerals, climate, water power etc. play in valuable role in the economic development of an clownish. A unsophisticated which has abundant natural resources is in position to development much rapidly than a country which is deficient in such(prenominal) resources. They here how ere emphasize that the presence of abundant resources is not a sufficient condition of economic growth. Physical factures they say be passive factors of economic growth. They are to be combined with gentleman resources of a country who are active facture of economic development. homo resources of a country are the size of population pace of growth of population urban rural distribution of state and quality of population. The quality of population as measured by health standards educational levels and technology is vitally important in influencing a nations cultural and economic progress. A country which has developed the skills and intimacy of its people can exploit natural resources, build social economic and political organizations and can view as forward national development.

The less developed countries of the world are now making investment in piece persons for change magnitude their skills abilities ideals health on the job education programmers. These productive investments progress to a strong bearing upon increasing human capabilities which is called human capital. 2. What is human capital? Its Role in Economic victimization? Human capital can be described as the skills training and health acquired through on the job training and education Michael Pakistan Park in defines it as: \The skill and knowledge of human beings.\ It is also defined as: The endowment of abilities to become that exists in each human being. It can be change magnitude through formal education, on the job training and ameliorate health and psychological well being. To be more precise. If the... If you need to get a full essay, order it on our website: Orderessay

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