Question

“Human capital formation leads to inventions, innovations and technological improvement.” Comment.

Answer 1

Answer:

individual's income generating capacity. This enhanced productivity of human beings or human capital contributes substantially not only towards increasing labour productivity but also stimulates innovations and creates ability to absorb new technologies.

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Answer 2

“Human capital formation leads to inventions, innovations and technological improvement.”

• Human Capital Formation implies the process to add in the stock of human capital with time. It is the process of developing and boosting the number of qualified and competent people. It is vital for the growth of an economy in terms of inventions, innovations and technological improvement.

• Human Capital Formation has presently evolved for supporting discovery at work in terms of new technologies, enhancing job performance, and facilitating managerial development and innovation.

• Human capital formation includes those learning experiences which are composed, for a particular time, and formulated to bring about the possibility of technological change.

• Human capital formation includes proficiency, abilities, and health that people empower in and grow throughout their lives which encourages them to comprehend their potential as influential members of society.

• When human capital formations boost in tracts such as technology, education, and administration, it directs to improvements in innovation, companionable well-being, correspondence, enhanced productivity, and increased rates of participation, all of which renders economic growth.

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