What is difference between human capital and human development?
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human capital is the sum total of the economic capacity created by the citizens of a Nation. however human resource refers to the head count of work force available and it's management.
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HUMAN CAPITAL
- It 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 .
- Human capital treats human beings as a means to an end, the end being the increase in productivity .
HUMAN DEVELOPMENT
- 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 .
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