Essay about The Human Capital Of The World 's Underdeveloped Countries

Essay about The Human Capital Of The World 's Underdeveloped Countries

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According to experts, the human capital originated with Theodore Schultz, an economist that was interested in the world’s underdeveloped countries. Mr. Schultz claimed that improving welfare of poor people did not depend on equipment, energy, land but rather on education. He also argued that many have neglected to see human beings as capital and therefore they have done a poor job encouraging knowledge. Economist Theodore Schultz became a winner of the Noble Prize in 1979. Today, because of his many examples, others have embraced the importance of helping one another become more productive through motivation of higher education and job training techniques. Studies have proven that investments in human capital are vital in sustaining economic growth. When we invest in human capital it means we are investing in education as well as on the job training which in turn will improve the quality of our workforce. Human capital and training working together are valuable tools that will provide positive results. Training is linked to performance and employee retention. Organizations that are willing to teach, coach, mentor and train their employees show a greater resolution in productivity overall than those that are resistant in molding their employees. To remain in competition, organizations must be willing to provide the necessary training to their employees. According to a quote from “Get Your People Working like They Mean It” by: Evelyn Jacks Everything is a Battle” Managers must be willing to engage themselves in the future of their employees. As I continue with this paper I will focus on the advantages of investing in human capital and the positive effects that can be produce because of job training. It has been said that that our ...

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...erve a small portion of each country’s economic status. United States has been the leading country in economic growth. According to researchers United States represents about 22% of the global economic growth. It has the most influential in the financial market and represents a major part of the global manufacturing output. Although the United States has many positive status quo, like every country, it also has its flaws. If the United States saves, we would be able to contribute to investment macro economically. By the United States saving it would allow us to invest in physical assets nationally. It would open us to more foreign investments. When we save we will also attract high amount of capital. Workers all over would become more productive and gain more bargaining power. But, sadly to say U.S. is in major debt and debt can contribute to a recession.

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