1. Quality human resources of a country- write a note
Answers
Answer:
Human resources are considered important type of resources for attaining economic development of a country. ... Meier is “the process of acquiring and increasing the number of persons who have skills, education and experience which are critical for the economic and political development of the country
Answer:
By the term human resources we mean the size of population of a country along-with its efficiency, educational qualities, productivity, organisational abilities and farsightedness. By human resource we mean human capital. Human capital implies the abilities, skills and technical know how among the population of the country.
Human resources must be considered both from the angle of assets as well as the liabilities connected with the attainment of economic development. For the attainment of economic development, proper utilisation of both natural as well as human resources is very much essential.
These are some factors affecting the Quality of Human resources of a country:
(i) Proper Utilisation of Resources:
Human resources are considered important type of resources for attaining economic development of a country. Among various types of resources, human resources are the most active type of resources. Qualitative and quantitative development of human resources is very much required for the proper utilisation of natural resources of the country.
Thus the human capital formation according to Prof. Meier is “the process of acquiring and increasing the number of persons who have skills, education and experience which are critical for the economic and political development of the country.”
(ii) Increased Productivity:
Human capital has been playing an important role in the economic development of a country. Schultz, Kenderick and Harbison have made some important studies recently so as to point out that a major part of the growth of national output in USA can be attributed to increased productivity which has been mostly realised out of capital formation.
In this connection Prof. Galbraith was of the view that “we now get the larger part of industrial growth not from more capital investment but from investment in men and improvements brought about by improved men.”
(iii) Development of Skills:
Slow growth in underdeveloped countries is mostly resulted from lack of investment in human capital. These countries are suffering from lack of critical skills required for its industrial sector and also face the problem of surplus labour force in its farm sector. Thus human capital formation is very much required for the economic development of the underdeveloped countries.
In this connection, Prof. Myint observes that, “It is now increasingly recognised that many UDCs may be held back, not so much by a shortage of savings as by a shortage of skills and knowledge resulted in a limited capacity of their organisational framework to absorb capital in productive investment.”
Thus the underdeveloped countries are suffering from shortage of technically trained and highly skilled and educated persons and the developed countries are maintaining high level of investment on the development of manpower resources.
In order to attain an all-round development of the country, the human capital formation through adequate volume of investment on human development is very much important under the present context of development.
(iv) Increased Volume of Output:
As a result of human resource development, the production increases as the knowledgeable and skilled workers can make a rational use of all resources at their disposal. With the imparted knowledge, workers try to increase his output and income. Attainment of vocational skills helps the workers and all categories of manpower to earn higher level of income in various professions.
The higher education and training at higher educational set up like college and universities usually enables workers to contribute liberally towards faster expansion of output in technical, engineering, machine building, accounting, management etc. Moreover, improved health facility can enhance physical capacity of workers. Thus all these factors positively contribute towards increased output.
(v) Addition to Productive Capacity:
Human resource development in the form of human capital formation can make necessary addition to the productive capacity of a country in humorous ways. By upgrading the technological scenario along with improved knowledge and skill can modernise the production technologies and thereby can add to the productive capacity of the country in general.
Transfer of technology from foreign countries can pave the way for adoption of modern technology into production and thereby can improve the productive capacities. Moreover, human capital formation can promote higher growth of the economy by adding physical stock of capital of the country.
(vi) Improving Quality of Life:
Human resources development can pave the way for improving quality of life for the people in general. This can be made possible through improvements in the three components of Human Development Index (HDI), i.e., rise in per capita income, higher educational attainments and increase in life expectancy.
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