human resources are as important as a natural resources for any country discuss
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Answer:
Hope this will help you mate..
Explanation:
Developing and enriching human capital is far more important for the economic growth of a country compared to simply possessing natural resources. Examples are the East Asian economies that lacked natural resources, but still excelled economically on the strength of their better human capital.
The governments in East Asia nurtured their human resource through better education and health facilities. Planners in South Asia in general and Pakistan in particular thought that their natural capital and the strategic location would be enough to move ahead economically. Today, over 70 percent of the world’s poor live in this region, while poverty has almost vanished from East Asia.
In 1960s the South Asian region was perhaps better economically than East Asia. In fact Pakistan’s exports, per capita income in early 60s was higher than South Korea, Malaysia, Thailand or Philippines. We proudly claim that the South Korean economy surged ahead after copying the long term economic plan of Pakistan. But we conveniently ignore the fact that their huge human capital endowments, both in terms of education and health were the main reason for this growth. It is also the reason that we failed to capitalise on the excellent economic roadmap prepared by our economic planners.
In the early 1960s, the per capita income of Pakistan was more than double that of South Korea. Now, our per capita income is only $4,900 on purchasing power parity (PPP) while that of South Korea is $36,400. The reason for this divergence is that in 1960s, literacy rates were as high as 71 percent for the Republic of Korea, and 68 percent for Thailand, while Malaysia achieved a rate of over 50 percent. On the other hand, South Asian developing countries had a low literacy rate; only nine percent for Nepal and 16 percent for Pakistan. After almost five decades, the literacy rate has improved officially to around 60 per cent in Pakistan that is still lower than the literacy rate of Korea in 1961. The literacy in South Korea reached 98 percent and Malaysia managed a rate of about 90 percent.
Expenditures on education, training, medical care, and so on are investments in human capital.
Studies across the South and East Asian economies show that life expectancy is much higher in the East Asia.
In the 1960s, life expectancy was below 45 years in South Asian countries. On the other hand the East Asian developing countries had life expectancies well over 50 years, with the Republic of Korea achieving a figure of over 54 years, followed by the 53 years of Malaysia and 51 years for Thailand.
Currently South Asian developing countries have enhanced their life expectancy to more than 65 years, at least in the case of Pakistan, India, Bangladesh and Bhutan.
Yet the life expectancy rate in both Malaysia and Korea remains much higher; of the order of more than 80 years, with Thailand reaching a figure of 73 years.
Pakistan is fortunate that the proportion of working age population is increasing in the country with declining dependent age population. It is reverse in most developed economies.
If the available human capital of the country is not empowered with knowledge-based education and healthcare, we would remain a low income country even after 50 years.
Pakistan’s demographic divide, therefore, is both a threat and an opportunity, as much would depend on how our planners nurture its 63 per cent human resource that is below 25 years old.
Answer:
Human resources are as important as natural resources because it is the human who uses technique to convert natural resources in useful resources
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