Theodore schultz human capital theory becker
Theodore schultz human capital theory becker test!
What Is the Human Capital Theory and How Is It Used?
What Is Human Capital?Theodore schultz human capital theory becker
Human capital is a loose term that refers to the educational attainment, knowledge, experience, and skills of an employee. The theory of human capital is relatively new in finance and economics. It states that companies have an incentive to seek productive human capital and to add to the human capital of their existing employees.
Put another way, human capital is the concept that recognizes labor capital is not homogeneous.
Key Takeaways
- Human capital is the intangible economic value of a worker's experience and skills.
This includes factors like education, training, intelligence, skills, health, and other things employers value, such as loyalty and punctuality.
- The human capital theory posits that human beings can increase their productive capacity through greater education and skills training.
- Critics of the theory argue that it is flawed, overly simplistic, and confounds labor with capita