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The flow of these skills is forthcoming when the return to investment. Human capital theory brought the nber into the modern era of economics. Human capital is the stock of skills that the labor force possesses. This review of human capital theory begins in 1776 and ends in the 1960s, when the theoretical and empirical foundations of the field were. Human capital theory suggests that individuals and society derive economic benefits from investments in people. What is human capital theory? One of the most important ideas in labor economics is to think of the set of marketable. The basic theory of human capital. The purpose of this literature review is to clarify, investigate, and discuss by identifying and synthesizing the human capital. Human capital theory rests on the assumption that formal education is necessary to improve the productive capacity of a population.
Human Capital Theory PDF
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