Group 12 Human Capital

The purpose of our study is to identify the importance of human capital in today's economy.

• How does the education and development of workers effect a certain country's economic success?

• How does the structure of a workforce lead to production problems and successes.
• How and why do governments effect human capital?

By looking at these questions in great detail, we hope to see how human capital effects the economy.

What is human capital?

In simple terms, human capital is all of us..... or you could say it is a way of defining and categorizing peoples' skills and abilities as used in employment and otherwise contribute to the economy. Many early economic theories refer to it simply as labor, one of three factors of production, and consider it to be a commodity -- homogeneous and easily interchangeable. But other conceptions of labor are more sophisticated.