Bring out the differences between human capital and human development.

Differences between human capital and human development:
1. Human Capital considers education and health as a means to increase labour productivity. Investment in education converts human beings into human capital. Human Capital represents enhanced labour productivity, which is an acquired ability and an outcome of deliberate investment decisions with the expectations that it will increase future income sources.

Human development is based on the idea that education and health are integral to human well being because only when people have the ability to read and write and the ability to leed a long and healthy life, they will be able to make other choices which they value.

2. Human capital treats human beings as a means to an end, the end being the increase in productivity. 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 doesn't result in higher labour productivity.