What are the differences between human capital and human development?
Answers
➤ Human capital considers education and health as a means to increase labour productivity .
➤ It is a narrow concepts which treat human beings as means to achieve and end which is higher productivity .
➤ Investment in education converts human beings into human capital .
➤ Human capital treats human beings as a means to an end, the end being the increase in productivity .
➤ It is based on the idea that education and wealth are integral to human well being because only when people have the ability to read and write and the ability to lead a long and healthy life ,they will be able to make other choices which they value .
➤ Human Development treats human beings as ends in themselves because human welfare should be increased through investment in education and health even if such investment does not result in higher labour productivity .
Answer:
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ANSWER
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\huge\bf\green{\mid{\overline{\underline{HUMAN\: CAPITAL}}}\mid}∣
HUMANCAPITAL
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➤ Human capital considers education and health as a means to increase labour productivity .
➤ It is a narrow concepts which treat human beings as means to achieve and end which is higher productivity .
➤ Investment in education converts human beings into human capital .
➤ Human capital treats human beings as a means to an end, the end being the increase in productivity .
\huge\bf\pink{\mid{\overline{\underline{HUMAN\: DEVELOPMENT}}}\mid}∣
HUMANDEVELOPMENT
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➤ It is based on the idea that education and wealth are integral to human well being because only when people have the ability to read and write and the ability to lead a long and healthy life ,they will be able to make other choices which they value .
➤ Human Development treats human beings as ends in themselves because human welfare should be increased through investment in education and health even if such investment does not result in higher labour productivity