Showing posts with the label human productivity

The Economic Value of Human Capital

Understanding how human capital is utilized in society and how that human capital is measured is important for understanding economic underpinnings.   A study by Olimpia Negu delves into comparing human capital attainment throughout 28 OECD countries and the market benefits of that capital (2012). This measurement helps to show which countries have the highest human capital development. It may also start to highlight where economic growth is most receptive. Before analysis it is important to understand what human capital actually is. Human capital is complex and hosts concepts such as biological capital, educational capital, social skills, and health capital (Neagu, 2010). The total human being and their ability to be productive in the environment entail their ability to be productive.   Laroche et. al. (1999) indicates that human capital has some generalizations: -Non-tradable good embodied in humans. -Individuals are subject to human capital decisions made by parents,