Who can be invest in human ?
Answers
Answer:
Explanation:
The use of the term in the modern neoclassical economic literature dates back to Jacob Mincer's article "Investment in Human Capital and Personal Income Distribution" in the Journal of Political Economy in 1958. Then Theodore Schultz also contributed to the development of the subject matter.
The use of the term in the modern neoclassical economic literature dates back to Jacob Mincer 's article "Investment in Human Capital and Personal Income Distribution" in the Journal of Political Economy in 1958. Then Theodore Schultz also contributed to the development of the subject matter.
There are many ways in which a country can invest in human capital: education - supporting a robust K-12 and higher education system by providing those orgnizations subsidies or providing citizens cheap funding for education.
This concept can be applied to job-assignment, wage dynamics, tournament, promotion dynamics inside firms, etc. Arthur Lewis is said to have begun the field of development economics and consequently the idea of human capital when he wrote in 1954 "Economic Development with Unlimited Supplies of Labour."