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Human capital or human assets is a concept used by economists to designate personal attributes considered useful in the production process. It encompasses employee knowledge, skills, know-how, good health, and education. [1] Human capital has a substantial impact on individual earnings. [2]
In economics, capital goods or capital are "those durable produced goods that are in turn used as productive inputs for further production" of goods and services. [1] A typical example is the machinery used in a factory. At the macroeconomic level, "the nation's capital stock includes buildings, equipment, software, and inventories during a ...
Macroeconomics is a branch of economics that deals with the performance, structure, behavior, ... and better education and human capital, are all factors that lead to ...
In contrast, many economists today consider "human capital" (skills and education) as the fourth factor of production, with entrepreneurship as a form of human capital. Yet others refer to intellectual capital. More recently, many have begun to see "social capital" as a factor, as contributing to production of goods and services.
Accordingly, human capital is theorized to deliver increasing rates of return unlike physical capital. Research done in this area has focused on what increases human capital (e.g. education) or technological change (e.g. innovation). [101] The quantity theory of endogenous productivity growth was proposed by Russian economist Vladimir ...
The United Nations definition of inclusive wealth is a monetary measure which includes the sum of natural, human, and physical assets. [6] [7] Natural capital includes land, forests, energy resources, and minerals. Human capital is the population's education and skills.
Elections may not be held in Syria for up to four years, the country’s de facto leader has said, in his first comments on an electoral timeline since his rebel group overthrew the Assad regime ...
Endogenous growth theory holds that investment in human capital, innovation, and knowledge are significant contributors to economic growth. The theory also focuses on positive externalities and spillover effects of a knowledge-based economy which will lead to economic development.