Human Capital And Productivity
Economist Theodore Schultz invented the term human capital in the 1960s to reflect the value of our human capacities. He believed human capital was like any other type of capital; He believed that investing on human capital would lead us to a higher production, (Investopedia)
Investopedia defines human capital as a measure of the economic value of an employee's skill set. The concept of human capital recognizes that not all labor is equal and that the quality of employees can be improved by investing in them. The education, experience and abilities of an employee have an economic value for employers and for the economy as a whole. (Investopedia)
Investors Words defines Human Capital as "the set of skills which an employee acquires on the job, through training and experience, and which increase that employee's value in the marketplace." (Investors words) Human capital is a way of defining and categorizing peoples' skills and abilities as used in employment and otherwise contribute......
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