How is human development a broader term as compared to human capital?

Solution

Human development and human capital look alike but human development is wider than human capital. Human Capital represents enhanced labour productivity and also stimulates innovations and creates ability to absorb new technology.

Human development is a much wider concept. It asserts that education and health are integral to human well being. That is why, this approach treats human being ends in themselves and human welfare should be increased through investments in education and health even if such investment does not result in higher labour productivity. Therefore, basic education and basic health are important in themselves, irrespective of their contribution to the labour productivity.

Some More Questions From Human Capital Formation In India Chapter

For Daily Free Study Material Join wiredfaculty

Human Capital Formation In India

How is human development a broader term as compared to human capital?

Some More Questions From Human Capital Formation In India Chapter

What is meant by human capital formation?

Human capital formation is the process of adding to the stock of human capital over time.

What do you mean by the term 'sources of human capital formation?'

A professor earns a higher wage than a peon in the college. Why?

What is human developments?

What is 'on the job training'?

Give the different forms of 'on the job training'.

Why is expenditure regarding on-the-job training a source of human capital formation?

What is investment in education?

Mention on the main forms of development of human resources.

Mock Test Series

NCERT Sample Papers

Entrance Exams Preparation

Phone Number

Email Address

Location