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- W72233067 abstract "The economic concept ‘human capital’ refers to the fact that education and training can be regarded as a form of investment that will increase future levels of income for both individuals and society, by making people more productive, in the same way as buildings or machinery represent investment in physical capital. Economists traditionally measure the relationship between costs and benefits of investment by estimating ‘rates of return.’ This article examines the applicability of the economic concept of human capital to education, summarizes research and literature on educational aspects of human capital, discusses ways in which estimates of rates of return to education and the links between education, employment and economic growth have influenced education policy, particularly on financing of education, and examines criticisms of human capital theories, including the idea that education may represent a ‘screening device,’ rather than a genuinely productive form of investment. The article ends with a discussion of the more recently developed concept of ‘social capital,’ which challenges narrow definitions of human capital." @default.
- W72233067 created "2016-06-24" @default.
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- W72233067 date "2001-01-01" @default.
- W72233067 modified "2023-09-23" @default.
- W72233067 title "Human Capital: Educational Aspects" @default.
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- W72233067 doi "https://doi.org/10.1016/b0-08-043076-7/02469-4" @default.
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