What is the definition of human capital in scientific literature?
Best insight from top research papers
Human capital is an innovative economic category that has become the main productive force for economic development and improving the quality of life. It is defined as a stock of health, knowledge, skills, motivation accumulated as a result of investments, which is used in the labor process, ensuring productivity and income growth . The evolution of economic systems and concepts has led to the identification of two key elements of human capital: education and health . Human capital is considered an investment in human resources, acquired through education, and is crucial for the ability to absorb and systematize knowledge and innovate . It is also the foundation for the formation of a free civil society, the generator of a cultural environment, and the solution of various social and environmental problems . Investment in human capital is reliable and pays off faster than investment in other types of capital .
Answers from top 4 papers
More filters
| Papers (4) | Insight |
|---|---|
17 Feb 2022 | The paper defines human capital as the set of skills, knowledge, abilities, and attributes embodied in people that are crucial for absorbing knowledge and innovating. |
29 Apr 2019 | The definition of human capital in scientific literature is that it refers to the knowledge and skills acquired through education, which contribute to the productivity and income of individuals. |
| The paper provides multiple definitions of human capital, stating that it is a stock of health, knowledge, skills, and motivation accumulated through investments, used in the labor process to ensure productivity and income growth. | |
| The paper provides a definition of human capital as an innovative economic category that has become the main productive force for economic development and improving the quality of life. |
Related Questions
What is human capital management?5 answersHuman Capital Management (HCM) refers to the strategic management of an organization's employees to enhance efficiency and achieve goals. It involves decisions made by HR managers that impact work culture, competitiveness, and overall business performance. HCM emphasizes the value of human capital, which is the additional value individuals bring to organizations through their knowledge and skills. Research highlights the importance of investing in human capital through talent management, learning programs, and strategic measures to secure a competitive advantage. While technology like AI and machine learning can enhance decision-making in HCM, studies suggest that human involvement remains crucial, as certain functions are unlikely to be replaced by technology in the near future.
What'sThe development of human capital?5 answersThe development of human capital refers to the process of enhancing and investing in the knowledge, skills, and abilities of individuals to contribute to economic growth and innovation. It involves aligning education and training with the needs of society, fostering a versatile and forward-leaning mindset, and promoting lifelong learning. Human capital has emerged as a key factor in economic development, surpassing physical and natural capital in its importance. The formation and development of human capital are crucial for the productive forces of society and sustainable economic growth. Factors such as education, health, and social protection play a significant role in the reproduction of human capital. The dual system of education, which combines theoretical knowledge with practical training, has been identified as an effective approach for the formation of human capital. Public-private partnerships in vocational education can also contribute to the development of human capital by sharing the costs and risks involved.
What is the relationship between human capital and the knowledge economy?5 answersHuman capital is a crucial factor in the development of the knowledge economy. It is considered the dominant form of social wealth and the foundation of intellectual and social capital, contributing to economic and civilizational progress as a whole. Investments in human resources are seen as an investment that affects the growth of business performance, rather than just a cost component. The development of a knowledge economy relies on the efficient use of intellectual resources and human capital, which requires measures for its formation, accumulation, and preservation. In the digital age, human capital plays a significant role in the transition to a new era of immaterial investments, particularly in research and development, education, training, and information and communication technologies. Recognizing human capital as a necessary independent factor for economic growth, there is a need to reflect it in the accounting and reporting systems of firms.
What is human capital development?5 answersHuman capital development refers to the process of enhancing and investing in the skills, knowledge, and abilities of individuals within an organization or society. It involves the cultivation of human potential through education, training, and other forms of skill-building activities. Human capital development is crucial for promoting equitable distribution of income and reducing inequalities. It is also a key factor in the competitiveness and success of organizations, as it contributes to increased productivity, innovation, and overall performance. The development of human capital encompasses various aspects, including social and emotional skills, task effectiveness, and cognitive abilities. It involves creating a supportive organizational culture that motivates individuals to perform at their best and fosters their growth and development. Additionally, human capital development involves assessing and measuring the value of human capital, including factors such as education, culture, and health.
What are the differences between human capital and human resources?3 answersHuman capital and human resources have distinct differences. Human capital refers to the knowledge, skills, creativity, innovativeness, and commitment of individuals that contribute to increasing organizational value-added. It involves tasks with undefined processes and outputs, focusing on the individual and organizational perspective. On the other hand, human resources are workers who use their knowledge, skills, and commitment to carry out tasks with clearly defined processes and outputs. They are workers who contribute to the completion of specific tasks within an organization. In summary, human capital emphasizes the individual's potential for growth and value creation, while human resources focus on the execution of specific tasks within an organization.
Why human capital is important?1 answersHuman capital is important because it contributes to economic growth, organizational development, and entrepreneurial innovativeness. Investment in knowledge, skills, and qualifications, rather than physical capital, has been found to generate higher profits. Effective management of human capital can increase employee loyalty and help organizations navigate turbulent economic conditions. The practical application of human capital theory has helped countries achieve economic progress. In the context of entrepreneurial ventures, human capital plays a crucial role in achieving innovativeness, with factors such as formal and non-formal education, lifelong learning, previous experience, and entrepreneurial self-efficacy influencing its impact. In the new economy, human capital has become the main factor of production, driving organizational development and providing firms with a competitive advantage. The productivity of modern economies depends largely on investment in knowledge and skills, highlighting the importance of human capital.