What is human capital Human capital and growth

human capital is everything that an individual brings to a task at hand is a repository of skills of Health which can be used for economic activities but more generally for for realization of the potential of an individual human capital is of course the capital it's in human beings instead of just machines and things like that it's their knowledge their training their skills their life experience their physical strength their emotional strength their overall health people have traditionally focused on a very narrow understanding of human capital thinking about education and in particular schooling with informal context any skills or knowledge that makes people more productive so human capital for me is really the ability to take control of your life a more empowered life the ability to read and write increase political participation more knowledge for women more and more the profession moves towards not thinking about development in this narrow sense of just per capita growth rates of income but something that improves quality of life human capital itself can be considered an indicator or a measure of development there is a clear relationship between education and the income and the future of the households and individuals with better health and education people can be more productive they can then become wealthier they can contribute to society it drives growth but also as countries grow people learn people become healthier and so growth itself produces more human capital the more educated people are the easier for them it is to produce more and to come up with inventions and to increase the amount of resources available for everybody around people in developing countries they know best what they need to make their lives better and increasing their human capital will actually help them help themselves it's very important to try to understand which institutions both formal and informal institutions matter we don't totally understand how to increase individuals human capital and we also don't always understand the interaction between people's human capital so to understand human capital is not only to understand you know how humans have evolved but also how humans can translate the knowledge that they that they have which has been accumulated over centuries into progress both economic and as individuals

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